Quantum Acquires Stake in Advanced Lithium Ion Battery Company
Quantum Fuel Systems Technologies has acquired a 19.9% stake in Vancouver, British Columbia-based Advanced Lithium Power Inc. (ALP), a newly formed company developing leading-edge lithium ion and advanced battery control systems whose primary asset is intellectual property.
ALP is developing state-of-the-art lithium ion battery and control systems that control state-of-charge and provide for thermal management, resulting in high-performance energy storage. ALP's breakthrough technology has significant opportunities and applications in hybrid electric vehicles, fuel cell vehicles, uninterruptible power supplies, and energy storage for renewable energy, such as solar photovoltaic applications.
ALP's technology enables the inherent advantages of lithium ion batteries, high specific energy, no memory and limited self-discharge, to be implemented in today's mainstream hybrid electric vehicles, coming plug-in hybrid electric vehicles, and future fuel cell vehicles. ALP's advanced lithium ion battery packs are designed to be smaller and lighter than current nickel metal hydride batteries used in hybrid electric vehicles, thus providing the opportunity to increase vehicle fuel efficiency by reducing vehicle weight and improving packaging flexibility. The technology has the potential to play a major role in future fuel cell vehicles by enabling the use of smaller, more cost-effective fuel cells in a hybrid configuration and, thereby, allow for significant cost reductions in fuel cell vehicles.
Working in concert with ALP, Quantum will utilize its strong automotive OEM skills in packaging, integration, and manufacturing expertise to develop integrated advanced lithium ion battery packs for near-term applications, including hybrid electric vehicles, uninterruptible power supplies, and solar photovoltaic energy systems, as well as emerging fuel cell vehicles. Quantum will be able to integrate ALP's lithium ion battery technology with its state-of-the-art hydrogen storage systems to provide complete energy storage solutions for fuel cell vehicles.
"This technology supports Quantum's strategic initiatives in hybrid electric and fuel cell vehicles and complements our growing military applications," said Alan P. Niedzwiecki, President and CEO of Quantum. "We believe that this is an important technology with enormous potential to penetrate into today's hybrid electric vehicle market as well as solar photovoltaic energy systems, and uninterruptible power supplies. It also positions Quantum to be a single source for energy storage solutions for hydrogen hybrid and fuel cell vehicles."
Quantum and its subsidiary, Tecstar Automotive Group, are leaders in powertrain engineering, system integration, and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.
Quantum has product commercialization alliances with General Motors, AM General, and Sumitomo. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at www.qtww.com.