Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : IMPCO Technologies (IMCO), formerly AirSensors (ARSN) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (284)	4/2/2002 12:48:11 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 298

Quantum and Hyundai Sign Agreement to Jointly Develop Fuel Cell And Alternative Fuel Vehicles for World Markets IRVINE, Calif., Apr 2, 2002 /PRNewswire-FirstCall via COMTEX/ -- Quantum Technologies WorldWide, Inc., a 100% wholly owned subsidiary of IMPCO Technologies, Inc. (Nasdaq: IMCO chart, msgs), announced today 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. 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). Dr. Moon-Sik Kwon, Executive Vice President of Hyundai Motor Company of Korea, said, "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." 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. Mr. Robert Stemmler, CEO and Chairman of IMPCO Technologies Inc., 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." Hyundai has been an independent provider of automobile technology for thirty years. Hyundai's strength as an automotive manufacturer is evidenced by the 7.8 million vehicles they have delivered to 190 countries around the globe over the past 26 years. Quantum Technologies is a leader in the development of advanced fuel system technologies for major automobile manufacturers worldwide. These advanced fuel systems enable vehicles incorporating internal combustion engines or fuel cells to run on clean emission fuels such as natural gas, propane, and hydrogen. Quantum's advanced fuel system technologies are also used on mobile and stationary fuel cell applications, as well as hydrogen refueling infrastructure. These technologies comprise the world's lightest all-composite fuel storage tanks for compressed hydrogen and compressed natural gas, state-of-the-art fuel injection and fuel delivery systems, as well as electronic controls and software. Quantum also has extensive capabilities in system packaging and integration. Quantum's advanced fuel systems can be found in General Motors' premiere line of natural gas and propane vehicles. More information about Quantum can be found at www.qtww.com . QUANTUM is currently a wholly owned subsidiary of IMPCO Technologies. In February 2002, IMPCO completed an SEC filing to spin-off QUANTUM. Upon the completion of the spin-off of QUANTUM, General Motors (NYSE: GM chart, msgs) will take a 20% equity position in QUANTUM as announced on June 12, 2001. Certain matters discussed in this press release contain forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These include the company's ability to design and market advanced fuel metering, fuel storage or electronic control products, the company's ability to meet OEM specifications, and other such risks as cited in the 2001 annual report on Form 10-K for IMPCO Technologies, Inc., and other documents filed with the Securities and Exchange Commission.