Quantum Fuel Systems just announced that it has obtained $3 million worth of new debt financing. The financing comes from WB QT, LLC, and also allowed Quantum to restructure its existing loan with that company. Here’s the lowdown on the agreement, from a company press release:
Quantum gets an additional $3 million in new debt financing in the form of a 11.5% convertible note with a conversion price of $0.71. The maturity date is August … Read the rest
Last week, Jesse James (of West Coast Choppers fame) set a new land speed world record at 199.712 MPH with a hydrogen fueled car, developed in part by Quantum Fuel Systems (QTWW), called the Streamliner. The milestone event, which took place in the Mojave Desert, will be shown in your living rooms on Sunday, August 9th at 10 PM ET/PT on Spike TV.
The Streamliner was fitted with 24 Quantum hydrogen injectors that fueled … Read the rest
Quantum Fuel Systems Technologies just announced that its affiliate, Asola, has opened a new PV manufacturing facility in Erfurt, Germany. The new, state of the art plant will employ 130 workers and produce 32 MW of PV modules per year first. Later, it will expand to produce 45 MW annually.
In a press release, leaders from both companies commented on the new plant:
"With this new plant we underline our own exceptional growth path, … Read the rest
The Fisker Karma hybrid-electric car has been nominated as a finalist for Green Car Journal’s 2009 Green Car Vision Award at the Washington DC Auto Show February 4 – 8. The car uses the Q-DRIVE plug-in hybrid technology, developed exclusively for Fisker Automotive by Quantum Technologies (QTWW) which co-founded Fisker.
A fully charged Fisker Karma burns no fuel for the first 50 miles after which the gasoline engine kicks in to charge the battery and … Read the rest
Quantum Fuel Systems Technologies Worldwide Inc. announced today that it will provide its Q-Drive high-performance plug-in-hybrid electric vehicle architecture to its affiliate Fisker. Fisker will use the Q-Drive vehicle architecture to produce its sporty "KARMA" plug-in hybrid. The KARMA will be able to go for up to 50 miles on its electric battery alone, with a hybrid gasoline engine for longer trips.
The Karma can be charged using a normal 110-volt electric outlet, or … Read the rest
According to MSN, Quantum Fuel Systems Technologies Worldwide, Inc. announced that Asola, its German partner, has entered into a joint partnership with Moroccan company Majdaline Holding. The two companies will join forces to build a solar power manufacturing plant. The plant will produce enough solar power modules to generate 30 MW of power each year, and has the potential to bring in $100 million annually.
From the article on MSN MoneyCentral, here are some … Read the rest
Quantum Fuel Systems Technologies Worldwide Inc announced a deal between Asola, the company’s German partner, and Q&Tech/Yongsan Inc, a South Korean manufacturing company. Under the agreement, Asola and Q&Tech will enter into a joint venture to build a manufacturing plant in South Korea. Q&Tech will then produce and distribute Asola’s German-designed solar components.
South Korea is a fast-growing solar market, and this deal allows Asola to market its parts there. The plant will conform to … Read the rest
Quantum Fuel Systems (QTWW), a leader in the development and production of advanced propulsions systems, energy storage technologies and alternative fuel vehicles reported earnings this morning much lower than what analysts had been expecting.
According to StreetInsider.com, the company reported a loss of .08/share from continuing operations, vs the analyst estimate of a .05/share loss while revenues came in at about half of the expectations at 3.7 million (est. of 7.5 million) vs the … Read the rest
UP
Altair Nanotechnologies (ALTI) up 33.79% on this news
Xethanol (XNL) up 11.11%
A-Power Energy (APWR) up 8.59%
Otter Tail (OTTR) up 5.04% and broke out to new all time highs!
DOWN
Quantum Fuel Systems (QTWW) down 7.14% … Read the rest