Irvine, CA – Business Wire – March 22, 2005 –
The Plug-In Hybrid Development Consortium (the
“Consortium”) announced that Quantum Fuel
Systems Technologies Worldwide, Inc. (“Quantum”,
Nasdaq: NM: QTWW) and Mr. Alan Perriton, former
Senior Executive of General Motors Asia/Pacific,
have joined the Consortium. The Consortium is
made up of a growing number of automotive
suppliers, manufacturers and other organizations
working together to accelerate the commercial
production of Plug-in Hybrid Electric Vehicles,
(PHEVs).
Quantum and its subsidiary, Tecstar Automotive
Group, are leaders in powertrain engineering,
system integration, rapid prototyping, advanced
propulsion systems, and manufacturing of
packaged fuel systems for hybrid, fuel cell, and
alternative fuel vehicles. Quantum has product
commercialization alliances with General Motors,
AM General, and Sumitomo. Quantum’s customer
base includes General Motors, Toyota, Opel,
Hyundai, Suzuki, Ford, DaimlerChrysler,
AeroVironment, and the U.S. Army. Quantum has
also developed hybrid hydrogen technologies for
the Toyota Prius and the Hydrogen Ford Escape
Hybrid now in development. Quantum brings
valuable vehicle prototyping, powertrain, and
system integration engineering services to the
Consortium which plans to demonstrate affordable
plug-in hybrid technology to automakers in a
PHEV design with the potential of achieving over
100 mpg.
“Quantum is pleased to join the Consortium and
contribute our expertise in the development of
the next generation hybrid vehicle. We believe
that plug-in hybrid electric vehicles can be
practical and cost-effective, and support the
transition to fuel cell vehicles,” said Dr. Neel
Sirosh, Chief Technology Officer, Quantum.
Alan Perriton joins the Consortium as an advisor
to the automotive industry. Mr. Perriton
formerly served as president of General Motors,
Korea and head of GM Asia/Pacific’s New Business
Development/M&A activities. Having lead GM’s
fuel cell business development activities for a
period of time, Mr. Perriton’s expertise in this
field will be of great assistance. “The Plug-In
Hybrid Development Consortium can help
automakers accelerate the development of plug-in
hybrids by introducing critical new technology
and by reducing development time and costs. I
see plug-in hybrids as a legitimate bridging
technology to our Hydrogen future.” said
Perriton.
“We are pleased to welcome Quantum and Alan
Perriton to the Consortium,” said David West
co-founder of the Consortium and VP Marketing,
Raser Technologies (NYSE Arca:RZ), “the
technical expertise of Quantum along with the
leadership of auto industry experts such as Alan
Perriton are valuable additions to the
Consortium and will help coordinate the
Consortium’s efforts with automakers.”
PHEVs are dual-mode hybrids that can run on low
cost electric fuel or gasoline. Plug-in Hybrids
can deliver dramatic improvements in fuel
economy by driving their first 25 to 50 miles on
clean renewable electric fuel for about 1/4 the
price of gasoline before turning on the
combustion engine. Many experts contend that
wide spread use of plug-in hybrids could
significantly contribute to the reduction of
emissions and dependency on foreign oil.
The Consortium was organized to help reduce the
R&D gap between component suppliers and OEMs;
and to coordinate and accelerate the development
of critical new solutions while reducing the
development time for the next generation Hybrid
vehicles. The members of this growing Consortium
plan to develop compatible components and cost
effective working designs, that would enable a
plug-in hybrid to achieve 100-200 total mpg
petroleum economy by driving its first 25 – 50
miles in all electric zero emission mode. This
“Dual Mode” PHEV will then continue to operate
in a high-efficiency hybrid electric mode to
achieve conventional range of operation.
Alan Perriton also serves on the Board of
Directors of Raser Technologies (www.rasertech.com),
an advanced electric drive technology company
that also participates with the Plug-In Hybrid
Development Consortium.
About The Plug-in Hybrid Development
Consortium.
The Plug-In Hybrid Development Consortium, is
made up of key component suppliers who intend to
work together with participating automobile
manufacturers to coordinate and accelerate the
development of key hybrid components and
demonstrate these advanced technologies in “next
generation” plug-in hybrid electric vehicles.
Membership is divided into two groups,
developers, made up of component suppliers and
advisors. Phase 1 membership is not exclusive.
Further information on the Plug-In Hybrid
Development Consortium may be found at:
www.hybridconsortium.org.
More information on Quantum may be found at:
http://www.qtww.com.
Plug-in Hybrid Development Consortium
Contacts:
Raser Technologies, Inc. (NYSE Arca: RZ) David
West (801) 765-1200
Quantum, (NASDAQ NM: QTWW) Dr. Neel Sirosh (949)
399-4698
Southern California Edison, (NYSE: EIX) Ed Kjaer
(626) 302-1324
Pacific Gas & Electric, (NYSE: PCG) Brian Stokes
(415) 260-3145
Maxwell Technologies, (NASDAQ NMS: MXWL) John
Miller (619) 756-2756
