Quantum Fuel Systems Technologies Worldwide Inc., a developer of advanced propulsion systems and alternative fuel vehicles, says it has received new purchase orders totaling $750,000 for its ultra-lightweight composite high-pressure compressed natural gas (CNG) storage tanks for applications in light- and heavy-duty fleet vehicles.
‘We are excited about this expanding CNG order flow and the prospects for our CNG business,’ says Alan Niedzwiecki, president and CEO of Quantum. ‘We believe that revenues from the sale of CNG tanks will more than double in 2012 and, combined with the expected Fisker Karma production ramp, we are forecasting 2012 to be a year defined by significant revenue growth.’
