Quantum and Hyundai to Develop Fuel Cell Vehicles

Quantum Technologies WorldWide, Inc., a wholly owned subsidiary of IMPCO Technologies, Inc., has announced the signing of a Memorandum of Understanding with Hyundai Motor Company (HMC) of Korea for the joint development and commercialization of advanced fuel systems for fuel cell and alternative fuel vehicles.

IRVINE, California 2002-04-04 [] This agreement is the culmination of previous successful programs to develop advanced fuel systems for Hyundai’s hydrogen fuel cell-powered Santa Fe sport utility vehicle (SUV) and dedicated compressed natural gas Elantra super ultra-low emissions vehicle (SULEV). “We are pleased to be working together with Quantum, the world’s technology and product leader in advanced gaseous fuel systems, on this initiative to advance our alternative fuel and fuel cell vehicle products,” said Moon-Sik Kwon, Executive Vice President of Hyundai Motor Company of Korea. Through this multi-year agreement, both Hyundai and Quantum will contribute to the development and commercialization of advanced hydrogen and alternative fuel systems for Hyundai’s vehicle platforms. This co-development will enable Hyundai to expand their alternative fuel vehicle platforms and expedite the commercialization of their fuel cell vehicles using Quantum’s proprietary gaseous fuel storage and fuel delivery technologies. Hyundai currently produces in excess of 100,000 alternative fuel vehicles annually, primarily for the Korean market. “We are energized at this opportunity to join forces with the fastest growing car company in America and to help accelerate the commercialization of Hyundai’s fuel cell and clean fuel vehicles worldwide,” said Robert Stemmler, CEO and Chairman of IMPCO Technologies Inc. “The alliance with another international automaker underscores Quantum’s successful leadership in fuel cell-enabling technologies and alternative fuels.”