Utilizing its expertise in ultra-lightweight all-composite gaseous fuel storage, Quantum will develop a unique storage module with higher system weight efficiency than it has demonstrated in the past for Lockheed Martin. Additionally, the storage system will be designed to withstand the extreme conditions experienced on lunar surfaces.
"This program will push the boundaries of storage technologies and advance Quantum's core technology," said Alan P. Niedzwiecki, President and CEO of Quantum. "Quantum will develop ultra-lightweight hydrogen and oxygen tanks well suited to meet the extreme temperature and light weight performance requirements of this program. Meeting these extreme requirements also has the potential to advance our current technologies for hydrogen vehicle commercialization, where temperature and weight considerations are also significant."
The first phase of the program is a one-year effort to design the hydrogen and oxygen tanks. Test tanks will be built to validate the design. Additional activities during the first year will be to design the storage module and test subscale tanks for leakage and permeation of the stored commodities. Later phases of the program may be awarded. Activities for these phases would include full validation of the tank design, construction of deliverable tanks, and fabrication of a deliverable storage module, with the final tanks integrated.
Quantum and its subsidiary, Tecstar Automotive Group, are leaders in powertrain engineering, system integration and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.
Quantum has product commercialization alliances with General Motors, AM General, Sumitomo and IMPCO. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, Sunline, Yamaha, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at www.qtww.com.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2004 sales of $35.5 billion.
Information about Lockheed Martin can be found at www.lockheedmartin.com/data/assets/9355.pdf.
Forward Looking Statements
Statements in this document regarding future financial and operating results, future growth in customers and development programs, future opportunities for Quantum and its subsidiaries, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward- looking statements, including: variations in pricing, material costs, other general costs and expenses; the ability of the Company to meet customer requirements; the ability of the Company to receive additional phases of this announced award; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2005 and in the other documents filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, opinions, and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
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CONTACT: Andy Abele, Executive Director, Strategic Development, for
Quantum Fuel Systems Technologies Worldwide, Inc., +1-949-399-4527,