Alternative energy company Quantum Fuel Systems Technologies Worldwide Inc. shares closed Wednesday with nearly 35% gains after the company announced it has received a contract to deliver more than100 plug-in hybrid electric (PHEV) pickup truck fleet vehicles to The Dow Chemical Company. The system was developed specifically for the Ford F-150 pickup and is powered by Dow Kokam lithium ion battery technology.
“Quantum is proud to be partnering with The Dow Chemical Company to launch the PHEV F-150 truck,” Alan Niedzwiecki, president and CEO of Quantum stated in the press release. “We are excited and impressed by Dow’s progressive thinking, environmental stewardship and willingness to lead.”
Quantum’s research and development group designed the “Quantum F-Drive” system to adhere to stringent truck applications of America’s largest fleet operators. The vehicles also meet growing demand for, and plans to, convert Federal government vehicle fleets to hybrids, electric vehicles and other alternative-fuel vehicles.
“Dow is a recognized leader in sustainability, as demonstrated by our 2015 Sustainability Goals to reduce energy consumption and emissions, as well as in our mission to passionately innovate what is essential to human progress by providing sustainable solutions… like solar shingles and battery components for electric and hybrid-electric vehicles,” said Dave Kepler, Dow’s executive vice president of Business Services and chief sustainability officer. “By converting approximately 5 percent of our U.S. truck fleet to PHEV battery technology, we are driving the adoption of energy alternatives beyond existing boundaries while we work to reduce emissions and dependence on fossil fuel for fleet operations.”
The 20 kWh Dow Kokam battery powers the vehicles at speeds of up to 85 mph with acceleration capabilities at 0-60 MPH in less than 12 seconds.
The company said that the fleet vehicles incorporating Quantum’s F-Drive will meet Department of Transportation Federal Motor Vehicles Safety Standards, U.S. Environmental Protection Agency, as well as California Air Resources Board emission requirements.
“Quantum and Dow Kokam are cooperating to bring some of the first PHEV, light duty fleet vehicles to market that truly meet the performance demands and cost payback requirements of corporate fleets,” said Chuck Reardon, commercial vice president, Dow Kokam. “This is possible because Dow Kokam’s advanced battery technology and Quantum’s expert vehicle engineering are capable today of delivering the performance necessary to meet the needs of visionary companies like Dow.”
For more information visit www.qtww.com