GM Takes Minority Stake in QUANTUM TechnologiesJune 27, 2001 by Jeff Shepard
General Motors (Detroit, MI) and QUANTUM Technologies Inc., a subsidiary of IMPCO Technologies Inc. (Irvine, CA), have announced an equity partnership deal for the development of hydrogen-storage devices that they claim could make future fuel cell vehicles competitive with today’s gasoline vehicles in terms of range. GM will be acquiring a substantial minority ownership position in QUANTUM to collaborate on improving the range of GM’s fuel cell vehicles through the development of hydrogen storage, hydrogen handling and electronic control technologies.
“QUANTUM Technologies is recognized as the industry leader in hydrogen storage and handling for automotive applications,” said Larry Burns, GM’s vice president for research and development. “We’ve had a long relationship with QUANTUM in the alternative fuels field. This agreement will allow our two companies to work together on bringing fuel cell vehicles to the market. It is a logical next step on the long road to a hydrogen-based economy.”