Quantum in $2.5M Contract With Santa Ana Truck CompanyWednesday, January 9, 2013
Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. got a $2.5 million order to provide fuel-storage systems for GreenKraft Inc., a Santa Ana-based manufacturer of commercial trucks and automotive products.
Quantum said it will assemble and pre-test the compressed natural gas storage packages at its local factory. The company late last year announced it will be boosting its focus on the production of natural-gas fuel tanks, with plans to add 30,000 square feet of work space this year and another 30,000 square feet in 2014.
Quantum’s renewed focus on fuel-storage systems marks a step back from other business lines, including components and drive systems for hybrid vehicles, as well as various renewable-energy products.
Quantum, which has a market value of nearly $34 million, saw about $23 million in revenue for the first three quarters last year. It posted a loss of roughly $32 million over the same period.