Record Growth in Orders in 2012 for Q-Lite CNG Tanks
Quantum Fuel Systems reports that new 2012 orders for its Q-Lite brand Type IV all-composite CNG cylinders increased 231%, from $5.8 million in 2011 to a record $19.1 million in 2012. And Quantum says it has already received $9.4 million in new orders for CNG tanks and systems during the first quarter of 2013.
“We are excited to see the continuing momentum in compressed natural gas tank orders,” president and CEO Brian Olson said in a release.
Q-Lite is the basis for “one of the lightest natural gas fuel storage solutions in the industry, coupled with superior fuel storage capacity, enhanced safety features and the capability to be quickly integrated on to vehicles,” Quantum (NASDAQ:QTWW) says.
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Source: Quantum release with Fleets & Fuels follow-up