Quantum Fuel Systems Technologies, Inc. (NasdaqGM: QTWW)
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated a lt e rnat ive energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum’s portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low-emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum’s powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum’s customer base includes automotive original equipment manufacturers (OEMs), dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Value Proposition
Quantum Technologies is a major Tier 1 supplier of clean vehicle technologies to the automotive OEMs. Quantum’s portfolio of technologies is being fully integrated into the transportation energy system. The Company’s core hybrid electric, hydrogen, and alternative fuel technologies enable energy efficient utilization in hybrid and fuel cell vehicles; and, Quantum’s hydrogen refueling stations provide modular solutions for distributed infrastructure to meet the growing demand from hydrogen hybrid and fuel cell vehicles. The Company has provided groundbreaking, concept-tocompletion solutions for industry leaders such as Toyota, Ford, Suzuki, Yamaha, Opal, General Motors, NASA, and the U.S. Army. Quantum’s products and services provide leading-edge solutions for its customers and partners. With technological milestones such as the first hydrogen fuel cell vehicle to go 300 miles without refueling and the development of a 13.3 wt% hydrogen tank and 0.75 kg regulator for NASA/AeroVironment, coupled with the environmental impacts of global warming and the recent prices of gasoline, Quantum Technologies is poised for both shortand long-term growth for the foreseeable future.
• Four new models to be introduced from 2009 to 2011
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Quantum’s German partner, Asola Advanced and Automotive Solar Systems GmbH, won a $135 million contract to supply silicon photovoltaic solar modules to AS Solar GmbH.•
Quantum awarded $14.5 million development program to advance and integrate Q-Drive system for Fisker Automotive•
Quantum received an order for four additional Ford Escape hydrogen hybrid vehicles for the U.S. Army’s Tank Automotive Research, Development, and Engineering Center (TARDEC)•
Quantum and Henrik Fisker (Fisker Coachbuild LLC) form Fisker Automotive, Inc. - the new green American premium car company. Quantum has a 30% stake in Fisker.o
First model: The Karma, a plug-in hybrid electric vehicle (PHEV) premium 4-door sports sedan to start production in Q4 2009. On February 19th 2008 Quantum received a $14.5 million program from Fisker Automotive, Inc. to advance and integrate Quantum’s (“PHEV”) architecture – known as “Q-Drive” – for the Fisker Karma.o
On January 15th 2008 Quantum’s Fisker Automotive, Inc. joint venture announced that it has received a second round of funding lead by Kleiner Perkins Caufield & Byers. The multi-million dollar investment builds on the initial capital funding from Palo Alto Investors.•
Quantum announced on January 22nd 2008 the acquisition of a 25% equity stake in ASOLA Advanced and Automotive Solar Systems GmbH ("ASOLA"), a leading German solar energy technology company and has a letter of intent to acquire 8% more.o
On November 8th 2007 ASOLA has signed a long-term supply contract with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. Resulting sales from the supply agreement with Ersol are anticipated to generate US $500 million for ASOLA and Quantum.o
On March 5th 2008 Asola Advanced and Automotive Solar Systems GmbH, has been awarded a contract by AS Solar GmbH for the supply of high-efficiency silicon photovoltaic solar modules. The value of this contract is estimated at $135 million over a three year period, beginning in 2008, and subject to final negotiations on quantity and price in 2009 and 2010.•
Advanced Lithium Power Inc. (ALP) has developed breakthrough energy and power management technologies, including advanced control strategies for lithium-ion cell balancing and thermal management, resulting in battery packs of unprecedented power density, energy density, safety, and durability. Quantum has a 40% stake in ALP.o
On April 18th 2007 Quantum’s strategic partner in lithium-ion battery systems, ALP, has signed a Memorandum of Understanding with a leading Chinese automaker to jointly develop battery-dominant propulsion systems for passenger
Products
Advanced Vehicle Systems
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Hybrid Electric Vehicles•
Plug-In Hybrid Electric Vehicles•
Alternative Fuel Vehicles•
Hydrogen Internal Combustion Engines•
Fuel Cell Vehicle SystemsEnergy Storage and Delivery
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Lithium-Ion Battery and Advanced ControlSystems
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Advanced Hydrogen & CNG StorageSystems
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Mobile & Portable Hydrogen RefuelingSystems
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2,000 Hydrogen SystemsRenewable Energy Generation
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Solar Photovoltaic Modules (Automotive, Residential, and Commercial)•
Wind Turbines (Installation, Electricity and Hydrogen Generation)
Services
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Concept to Production Vehicles•
Powertrain Engineering•
Electronics & Software•
Design Analysis & Rapid Prototyping•
Computer Graphic Rendering•
Full Size Clay Modeling•
Reactive Injection Molding Body Parts•
SULEV Emissions Test & Certification•
Vehicle Validation•
Service Engineering•
Second Stage Manufacturing•
Aftermarket ProductsManagement
Alan P. Niedzwiecki,
President and Chief Executive OfficerMr. Niedzwiecki has served as Quantum’s President and as one of its directors since February 2002 and was appointed as Chief Executive Officer in August 2002. Mr. Niedzwiecki served as Chief Operating Officer from November 2001 until he was appointed CEO in August 2002. From October 1999 to November 2001, Mr. Niedzwiecki served as Executive Director of Sales and Marketing. From February 1990 to October 1999, Mr. Niedzwiecki was President of NGV Corporation, an engineering and marketing/commercialization consulting company. Mr. Niedzwiecki has more than 25 years of experience in the alternative fuels industry in product and technology development and commercialization relating to mobile, stationary power generation, and refueling infrastructure solutions. Mr. Niedzwiecki is a graduate of Southern Alberta Institute of Technology.
Jeffrey P. Beitzel,
Chief Operating OfficerMr. Beitzel has served as Quantum’s Chief Operating Officer and as one of its directors since March 2005. Mr. Beitzel previously served as a director and Co-Chief Executive Officer of Starcraft and as President of Wheel to Wheel. Mr. Beitzel has founded and owned several automotive companies since leaving an engineering position with Ford Motor Company in 1983. Such businesses have generally focused on converting automotive design concepts into limited volume production for original equipment manufacturers.
W. Brian Olson,
Chief Financial OfficerW. Brian Olson has served as Chief Financial Officer and Treasurer since August 2002 of Quantum Fuel Systems Technologies Worldwide Inc. From July 1999 to August 2002, Mr. Olson served as Treasurer, Vice President and Chief Financial Officer of IMPCO. He originally joined IMPCO in October 1994 and held various financial positions with IMPCO, including serving as Corporate Controller. Prior to joining IMPCO, Mr. Olson was with the public accounting firm of Ernst & Young LLP and its Kenneth Leventhal Group. Mr. Olson holds a B.S. degree in business and operations management from Western Illinois University and an M.B.A. degree in finance and economic policy from the University of Southern California. Mr. Olson is a Certified Financial Manager and a Certified Management Accountant.
Board of Directors
Dale L. Rasmussen,
Chairman of the BoardMr. Rasmussen has served as a member of our board of directors since October 2000, and was appointed as chairman of the board of directors in February 2002. Since April 1984, Mr. Rasmussen has held various positions at IMPCO Technologies, Inc. ("IMPCO"), our previous parent company, including his current position as Senior Vice President and Secretary since June 1989, as well as Vice President of Finance and Administration. Prior to joining IMPCO, Mr. Rasmussen was a commercial banker for 12 years at banks that were acquired by Key Bank and U.S. Bank. He received a B.A. in Business Administration and Economics from Western Washington University and is a graduate of the Pacific Coast Banking School.
Alan P. Niedzwiecki,
President and Chief Executive Officer(See Bio Above )
Jeffrey P. Beitzel, Chief Operating Officer
(See Bio Above )
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