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
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 (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