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UPDATE: Quantum Bounces 2.6% on Development Deal, Purchase Contract for Natural Gas Vehicle Program

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Quantum Fuel Systems Technologies ( QTWW ) is up 2.6% to $0.64 after signing a production agreement and receiving a contract from a leading global automaker for the engineering design and development of a natural gas storage and engine-fuel system for a compressed natural gas (CNG) passenger vehicle.

Under the contract, QTWW will design, integrate, and supply a light-weight natural gas on-board fuel storage system, fuel handling and engine systems for an advanced internal combustion engine vehicle, to meet customer-specified quality, durability and performance targets.

Shares are up 2.6% at $0.64 to their highest levels of the day, with a 52-week range of $0.41 - $0.99.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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