Quantum Fuel Systems (QTWW) surged with heavy volume off the 50 day moving average yesterday on news the company won a contract with Dow Chemical (DOW) to deliver 100 plug-in hybrid Ford F150 pickups (about 5% of Dow’s fleet).  The vehicles will use Quantum’s proprietary F-Drive system developed specifically for the Ford F150 along with Dow Kokam lithium battery technology.  The truck has a 35 mile all electric range and a 400 mile range in hybrid mode. 

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"Quantum is proud to be partnering with The Dow Chemical Company to launch the PHEV F-150 truck," said Alan Niedzwiecki, President and CEO of Quantum Technologies.  "We are excited and impressed by Dow’s progressive thinking, environmental stewardship and willingness to lead."

"Quantum and Dow Kokam are cooperating to bring some of the first PHEV, light duty fleet vehicles to market that truly meet the performance demands and cost payback requirements of corporate fleets," said Chuck Reardon, commercial vice president, Dow Kokam.  "This is possible because Dow Kokam’s advanced battery technology and Quantum’s expert vehicle engineering are capable today of delivering the performance necessary to meet the needs of visionary companies like Dow."

Shares of QTWW are looking quite bullish in recent months and appear to have found a long term bottom at $2.25.  Buy volume has been heavy and yesterday’s move was a key breakout off the 50 day moving average.