Quantum and Hyundai Sign Agreement to Develop FCVs
Quantum Technologies Worldwide Inc. (Irvine, CA), a 100-percent wholly owned subsidiary of IMPCO Technologies Inc., announced the signing of a memorandum of understanding with Hyundai Motor Co. (HMC, Korea) for the joint development and commercialization of advanced fuel systems for fuel cell and alternative fuel vehicles. The 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 and dedicated compressed natural gas for the Elantra ultra-low emissions vehicle.
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.
Robert Stemmler, CEO and chairman of IMPCO Technologies, said, “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. The alliance with another international automaker underscores Quantum's successful leadership in fuel-cell-enabling technologies and alternative fuels.”