LAKE FOREST, Calif., Dec. 14, 2015 (GLOBE NEWSWIRE) -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW ), a global leader in natural gas storage systems, integration and vehicle system technologies, announced today that it is offering its new VP-650 TM virtual pipeline trailer which will have the highest capacity available in the industry at approximately 650,000 SCF.
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The VP-650 TM virtual pipeline trailer will be capable of moving very large quantities of compressed natural gas to support industrial users of energy who are not connected to a natural gas pipeline. The VP-650 TM utilizes Quantum's Q-Lite® CNG storage cylinders. The tanks in the VP-650 TM are also capable of storing gas at up to 5000 psi service pressure which enables additional fuel capacity compared to standard 3600 psi systems. This combination of lighter weight technologies and higher fuel density design has enabled Quantum to provide the new VP-650 TM virtual pipeline trailer with an industry leading capacity of 650,000 SCF.
The trailer design and integration will also house other unique features that will set this product apart from existing trailers, including push button shut-offs, independent lock-off features, and other technology to ensure a full fill is achieved every time.
Quantum’s VP-650 TM is mounted in a 45’ hi-cube shipping container and has also been designed for sea transport. Short to medium distance shipping of CNG can be more cost effective than shipping LNG and other clean fuels. Products such as Quantum’s VP-650 TM can open up a broader group of both domestic and international industrial users of energy to operate on low cost natural gas.
"We are excited to be bringing our new VP-650 TM high pressure 5,000 psi technology together with our light weight cylinder experience to emerging applications within the virtual pipeline industry,” said Mr. Brian Olson, President and CEO of Quantum. "We believe that offering 20% more gas capacity than competing systems will allow virtual pipeline companies to save substantial operating cost by making 20% less trips to service their high volume industrial CNG users," concluded Mr. Olson.
Orders for the VP-650 TM are being taken now for customer delivery in mid-2016 upon completion of final validation and certification and permitting procedures.
About Quantum: Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the innovation, development and production of natural gas fuel storage systems and the integration of vehicle system technologies including engine and vehicle control systems and drivetrains. Quantum produces one of the most innovative, advanced, and light‐weight compressed natural gas storage tanks in the world and supplies these tanks, in addition to fully‐integrated natural gas storage systems, to truck and automotive OEMs and aftermarket and OEM truck integrators. Quantum provides low emission and fast‐to‐market solutions to support the integration and production of natural gas fuel and storage systems, hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum is headquartered in Lake Forest, California, and has operations and affiliations in the United States, Canada, and India.
Forward Looking Statements: This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report, other than those that are historical, are forward looking statements and can generally be identified by words such as "may," "could," "will," "should," "assume," "expect," "anticipate," "plan," "intend," "believe," "predict," "estimate," "forecast," "outlook," "potential," or "continue," or the negative of these terms, and other comparable terminology. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. Risk factors include the growth of the CNG market, acceptance of the Company’s products and the VP-650 achieving validation and receiving necessary certifications and permits. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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More information about the products and services of Quantum can be found at http://www.qtww.com/ or you may contact:
Quantum Investor Relations Phone: 949-399-4555 Email: ir@qtww.com
