Irvine-based Quantum Fuel Systems Technologies Worldwide Inc. has inked a parts contract worth up to $60 million in revenue this year, the company said Monday.
Quantum, which makes fuel systems for hydrogen, fuel cell and hybrid vehicles, said a unit, Tecstar Automotive Group, won the deal from an unnamed automaker. It could generate up to $60 million in sales in the next 12 months, the company said in a release.
As part of its contract win, Tecstar will build a parts distribution center on a 5.2-acre parcel Quantum has in Irvine. Tecstar also has a distribution center in Michigan.
Quantum’s clients include most automakers, including General Motors Corp., Ford Motor Co. and Toyota Motor Corp.
A typical deal for Quantum: Earlier this year it signed a pact to develop natural gas fuel gear for General Motors’ 2006 full-size pickup trucks. In early March, the company said it expects to receive $2 million from the federal Defense Appropriations Bill to fund its mobile hydrogen fuel cell refueling research for the Army.
Quantum reported sales of $4.4 million for the quarter ended Jan. 31, versus a year earlier. It posted an operating loss of $3.3 million in the period, up slightly from a $3.2 million loss in the prior period.
