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Quantum Fuel Systems Worldwide, Inc. (QTWW) Releases Numbers and Offers Alternatives

California-based company Quantum Fuel Systems Worldwide, Inc. released their numbers on September 10th and showed that the company is making strides in the business world. The revenue for the first quarter of fiscal 2009 was $3.7 million compared to $3.5 million in the first quarter of 2008, an increase of 6%.

Quantum provides products that utilize the hydrogen economy. By using thus format, the company can produce automotive options for a vast array of customers that range from the everyday consumer to government organizations.

Quantum made national news in the financial sector on May 30, 2008, when the company closed a series of transactions with its secured lender where the company received $7.5 million in proceeds from a new loan, replaced an unexercised 5.0 million investment commitment from the lender with a new $10 million investment commitment, and substantially amended the terms of its outstanding borrowings under its $16.2 million Convertible Promissory Note and its $10 million Term Note B.

Quantum is led by Alan P. Niedzwiecki, who serves as both the company CEO and president. Niedzwiecki has over 25 years experience in the alternative fuels industry and has guided Quantum into concept-to-completion solutions for industry leaders such as General Motors, NASA and the United States Army.

Amongst the most innovative products created by Quantum are its natural-gas pickup truck, hydrogen-powered military vehicles and hybrid cars. The young company’s mission is to be at the forefront of the new automotive age and to provide consumers with energy alternatives that will offer choices for all auto owners.

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