Quantum Announces Additional CNG Tank Orders
Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced that it has recently received approximately $2.0 million in additional orders for its Q-Lite® CNG storage tanks. The orders are from a combination of new and existing customers widely distributed around the US and Canada. These orders reflect the continued strong growth of natural gas and sets the stage for continued growth in 2014.
Quantum's CNG tanks are helping fleets reduce transportation costs and these orders reflect opportunities across many vehicle truck sizes, including light duty to heavy duty trucks. CNG is now being adopted as the low cost fuel of choice by many major fleets across the US.
"The substantial savings achieved by many of the fleets which have been testing CNG vehicles is now translating into volume orders," said Mr. Brian Olson, President and CEO of Quantum. "We expect this trend to only accelerate in 2014 as the recently introduced 11.9L engine becomes available in higher volumes," continued Mr. Olson.
- Shell Posts Record 2022 Profit
- Energy Services Sector Will Grow To $1 trillion In 2025
- Maritime Security Report Shows Incident Trends Down YoY
- Big Oil Shareholders Biggest 2022 Winners With Massive Payouts
- Will A New Iran Nuclear Deal Be Agreed to in 2023?
- Westwood: Several Macroeconomic Factors Make 2023 Unpredictable
- New SPR Bill Passes House
- What Bad Habits Should Oil and Gas Jobseekers Avoid?
- Top Headlines: Valaris Employee Reported Missing from Rig
- Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different
- Governor Issues Disaster Declaration for Southeast Texas
- USA Drops 3 Gulf of Mexico Rigs
- Exxon Building Largest Renewable Diesel Plant In Canada
- Biden To Support ConocoPhillips Alaska Oil Project, Defying Greens
- World Still Waiting to See What China Reopening Means
- USA Oil and Gas Employs Almost 1 Million in 2022
- EU Considers Capping Russian Fuel Prices at $100
- Valaris Employee Reported Missing from Rig
- Louisiana, Texas To Gain Thousands of Energy Jobs At Start of 2023
- Is the USA Shale Boom Over?
- Gasoline and Diesel Prices Expected to Fall
- Higher Oil Prices Have Not Led to More Exploration
- Shell Finds Gas In Pensacola High-Impact Well Off UK
- Talos Makes Two Commercial Discoveries In Gulf Of Mexico
- Iran Oil Gushes Into Global Market
- Will Oil Hit $100 Per Barrel in 2023?
- Eni, Chevron Make Significant Gas Discovery Off Egypt