Quantum and Asola to Triple Plant Capacity for Solar Modules in Germany to Meet Increasing...

Quantum and Asola to Triple Plant Capacity for Solar Modules in Germany to
Meet Increasing Demand

IRVINE, Calif., May 20 /PRNewswire-FirstCall/ -- Quantum Fuel Systems
Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that its German
solar partner, Asola Advanced and Automotive Solar Systems GmbH, is expanding
its annual solar module manufacturing capacity to 45 MW (megawatts peak
power), in response to increasing demand for photovoltaic power systems in
Europe. Asola has successfully secured financing for this expansion, and plans
to commission the new, state of the art facility by fall 2008.
Quantum holds a 25% stake in Asola, and has initiated discussions related
to an expanded partnership. Quantum and Asola have entered into a long-term
supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of
high-efficiency silicon photovoltaic solar cells, starting in 2008. Together
with supply contracts with other major suppliers around the world (i.e.
MOTECH, Sunergy and others), the Ersol agreement guarantees a steady supply of
solar cells to Quantum and Asola, thereby avoiding any potential future
disruptions due to crystalline silicon shortages, as have been recently
experienced by the solar cell industry. Resulting sales from these supply
agreements are anticipated to generate in excess of US $600 million for Asola
and Quantum.
"Electricity buy back guarantee programs continue to expand the market for
high quality solar photovoltaic power systems in Europe", commented Alan P.
Niedzwiecki, President and CEO of Quantum. "We are excited to be in this
vibrant market place, and pleased by the customer-loyalty and appreciation for
Asola's technology leadership, reliability and highest manufacturing quality."
"Asola is pleased to kick off this much needed expansion project in
partnership with Quantum," said Asola's founder and CEO, Reinhard Wecker. "We
are thankful to our bank, local and federal government agencies, key customers
and suppliers for their collaboration and support for this project. Our
expanded capacity will allow us to serve new and existing customers who are
demanding increasing quantities of high quality solar photovoltaic products to
ensure reliable electricity production during peak demand hours".
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated
alternative 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 OEMs, fleets, aerospace industry,
military and other government entities, and other strategic alliance partners.
Quantum has co-founded a "green American car company" called Fisker
Automotive, Inc. Fisker Automotive will offer a range of environmentally
friendly premium cars, incorporating Quantum's proprietary high-performance
plug-in-hybrid electric vehicle architecture, known as "Q-Drive," into a
unique chassis that will enable optimizing the performance and vehicle
dynamics. "Fisker Karma" launched at the Detroit International Auto Show in
January, 2008, incorporates an advanced solar-photovoltaic roof designed by
Asola. More information is available at http://www.fiskerautomotive.com.
More information can be found about Quantum's products and services at
http://www.qtww.com.
About Asola:
Asola Advanced and Automotive Solar Systems GmbH produces and markets
high-quality silicon-based photovoltaic modules that comprise 4, 5, 6, or 6+
mono-crystalline or polycrystalline silicon cells. Asola's technologies
include high output and high efficiency flat modules for residential and
industrial applications, specialized spherical modules for automotive
applications and modules for various thin film technologies. More information
can be found in www.asola-power.com.
Forward Looking Statements
Except for historical information, the statements, expectations, and
assumptions contained in the foregoing press release are forward-looking
statements. Such forward-looking statements include, but are not limited to,
the Company's expectations regarding expected future revenues and operating
results; future opportunities for Asola and Quantum; Asola's ability to secure
solar cells and fulfill orders in the future; and other statements about the
future expectations, beliefs, goals, plans, or prospects expressed by
management. Such statements are subject to a number of risks and
uncertainties, and actual results could differ materially from those discussed
in any forward-looking statement. Factors that could cause actual results to
differ materially from such forward-looking statements include, among other
factors, Asola's ability to expand production, the overall expansion of the
solar industry, and general economic conditions. Reference should also be made
to the risk factors set forth from time to time in the Company's SEC reports,
including but not limited to those contained in the section entitled "Risk
Factors" in the Company's Annual Report on Form 10-K for the fiscal year
ended April 30, 2007. The Company does not undertake to update or revise any
of its forward-looking statements even if experience or future changes show
that the indicated results or events will not be realized.
For more information regarding Quantum, please contact:

At the Company:
Dale Rasmussen
Investor Relations
DRasmussen@qtww.com
1-206-315-8242

Dr. Neel Sirosh
Chief Technology Officer
NSirosh@qtww.com
1-949-399-4698

Investor Relations:
RedChip Companies, Inc.
Sanford Diday
1-800-REDCHIP (733-2447, Ext. 115)
info@redchip.com
http://www.redchip.com

(C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Dale Rasmussen, Investor Relations, +1-206-315-8242, DRasmussen@qtww.com, or
Dr. Neel Sirosh, Chief Technology Officer, +1-949-399-4698, NSirosh@qtww.com,
both of Quantum Fuel Systems Technologies Worldwide, Inc.; Investor Relations:
Sanford Diday of RedChip Companies, Inc., +1-800-REDCHIP (733-2447, Ext. 115),
info@redchip.com