Quantum's Fisker Automotive Joint Venture Backed by Kleiner Perkins Caufield & Byers
IRVINE, Calif., Jan. 15 -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) announced today that its Fisker Automotive, Inc. joint venture has received a second round of funding lead by Kleiner Perkins Caufield & Byers. The multi-million dollar investment builds on the initial capital funding from Palo Alto Investors.
"Kleiner Perkins Caufield & Byers are committed to investing in innovative companies that make financial and environmental sense," said Ray Lane, Managing Partner, Kleiner Perkins Caufield & Byers. "We believe that Fisker Automotive's groundbreaking, forward-thinking design stands to pave the way for a greener and more efficient transportation future."
Fisker Automotive will offer a range of environmentally friendly premium cars, with the first production car making its worldwide debut at the 2008 North American International Auto Show in Detroit, Michigan. Initial deliveries are anticipated to commence in the 4th quarter of 2009. Quantum will supply its proprietary "Q-Drive" high-performance plug-in-hybrid electric vehicle architecture for the current Fisker Hybrid sedan as well as all future Fisker models. The Q-Drive plug-in hybrid electric drive system is designed to achieve 50 miles of zero emission, battery-only range while providing combined gasoline-electric hybrid operation to enable uncompromised vehicle range and performance. Benefits of the Q-Drive system include optimized fuel efficiency and superior performance, unchanged gas station infrastructure, and home-based battery recharging with any 110-volt outlet or, as an option, 220/240-volt fast-charging using Quantum's solar energy powered re-charging station.
"We are pleased that our vision for Fisker Automotive as the green American premium car company that provides high efficiency, low emissions, and a no-compromise driving experience resonates with Kleiner Perkins, the leading "Greentech" investor," said Alan Niedzwiecki, the President and CEO of Quantum. "The new Fisker hybrid sports sedan, which incorporates Quantum's proprietary Q-Drive system, will change the way we look at the automotive world."
About Kleiner Perkins Caufield & Byers (KPCB):
Since its founding in 1972, KPCB has backed entrepreneurs in 450 ventures, including AOL, Align, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions.
KPCB has broadly invested in both life sciences and information technology since its inception in 1972. In the last four years, KPCB has expanded its focus to include Greentech. KPCB's Greentech portfolio has grown to over 30 companies and includes Amyris Biotechnologies, Ausra, Bloom Energy, Great Point Energy, Mascoma, Miasole, and Verdiem. For more information on KPCB, please visit http://www.kpcb.com/.
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, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has also formed a new company with Fisker Coachbuild, LLC, which is 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.
More information can be found about Quantum's products and services at http://www.qtww.com/.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
Email: DRasmussen@qtww.com
+1-206-315-8242
Source: Quantum Fuel Systems Technologies Worldwide, Inc.
Web site: http://www.qtww.com/
http://www.kpcb.com/
