In order to accommodate increasing demand from vehicle OEMs, fleets and natural gas vehicle (NGV) system integrators, Quantum Fuel Systems Technologies Worldwide Inc. says it is expanding manufacturing capacity for its natural gas storage tanks.
Quantum manufactures its polymer-lined carbon composite tanks at a facility in Lake Forest, Calif. The planned expansion will double the company's current production capacity by deploying manufacturing lines at a 60,000 square-foot building that is adjacent to Quantum's existing 30,000 square-foot factory. The company has also closed a $3.25 million capital lease financing arrangement with Amur Investment Co. LLC to help fund the purchase of new equipment for the expansion.
Quantum anticipates that additional capacity will be available during the first quarter of 2013, and incremental capacity will come on line throughout the first six months of the year.
