Quantum Fuel Systems Wins Solar Contract
Quantum Fuel Systems Technologies Worldwide Inc. says its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, won a $17 million contract from Sunworx GmbH for the supply of high-efficiency silicon photovoltaic solar modules. Sunworx will take delivery of the modules this year.
Quantum and Asola recently announced plans to triple solar module production capacity in Germany by fall. Quantum holds a 25 percent stake in Asola and is in discussions to expand the partnership. Asola and Quantum have a long-term supply agreement with Ersol Solar Energy AG to procure 155 megawatts of high-efficiency silicon photovoltaic solar cells beginning this year.
Quantum shares rose 34 cents, or 16.7 percent, to $2.37 in afternoon trading.
