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IRVINE, Calif., Jan. 17 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW), a fully integrated alternative energy company, and a leader in the development and production of advanced propulsion systems, hybrid drivetrains, energy storage technologies, and alternative fuel vehicles and applications including, hybrid, hydrogen fuel cell and alternative fuel vehicles, today announced it has signed and closed a series of transactions that restructures Quantum's outstanding debt obligations to its secured lender, WB QT, LLC, and transfers substantially all of the business operations of the Tecstar Automotive Group (TAG) business segment to WB Automotive Holdings, Inc. ("WB Holdings"), an affiliate of WB QT. As part of a restructuring of certain debt obligations of TAG, which were guaranteed by Quantum, the TAG operations were transferred and assigned to WB Holdings in full satisfaction of approximately $20.3 million in debt obligations. Also, as part of the restructuring, WB Holdings provided approximately $2.0 million of additional financing to Quantum. The transfer of the Tecstar business segment was structured as a voluntary surrender of assets under Article 9 of the Uniform Commercial Code. Alan Niedzwiecki, President and CEO said, "The completion of this transaction allows us to more clearly focus our efforts on 'green vehicle' technology and our alternative energy products. Quantum is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles and applications including hybrid and alternative fuel vehicles. We are excited about the emerging 'green vehicle' programs with our leading OEM customers, including Fisker Automotive and the military and other government agencies." TAG primarily consists of second stage manufacturing of specialty equipment for General Motors' pick-up trucks and SUVs, engineering and design capabilities for concept vehicles, and distribution of conversion vehicles and automotive accessories through OEM dealer networks. TAG's business includes engineering and validation of appearance items and performance packages to OEM standards. Its completed systems carry a full OEM warranty and are distributed directly by the OEM to automotive dealerships. Merriman Curhan Ford & Co. (AMEX:MEM) acted as the sole financial advisor to Quantum in this transaction. Foley & Lardner LLP acted as legal advisor to Quantum in the transaction. About Quantum Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners. More information can be found about Quantum's products and services at http://www.qtww.com/. Forward Looking Statements Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, the overall expansion of the "green vehicle" markets, and general economic conditions. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized. For more information regarding Quantum, please contact: Dale Rasmussen Investor Relations Email: +1-206-315-8242 DATASOURCE: Quantum Fuel Systems Technologies Worldwide, Inc. CONTACT: Dale Rasmussen, Investor Relations of Quantum Fuel Systems Technologies Worldwide, Inc., +1-206-315-8242, Web site: http://www.qtww.com/

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