QTWW Shares Pass $2 On Record Oil, Solid Corporate News
Tags: Fisker Karma, Fuel Cells, Hydrogen, Hydrogen Power, QTWW, Quantum, Quantum Fuel Systems Technologies Worldwide Inc, Quantum Technologies
Ultimately, my hesitance to load the boat on Quantum Fuel Systems Technologies Worldwide Inc(NASDAQ: QTWW), last Monday cost me dearly.
The dip back into the $1.10 range from $1.28 that I had hoped for never happened. News out over the past week has simply been too positive. Instead, the stock ran up to $2.10 today – $.20 off of its 52-Week high – on the highest daily volume since June.
News out of the company today states that Quantum’s 25% owned German partner – Asola Advanced and Automotive Solar Systems GmbH – is tripling their annual solar module manufacturing capacity in response to growing European demand.
QTWW also stated plans to expand its ownership position in Asola and announced that the companies have jointly “entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. ”
The relationship is already expected to yield $600 million in combined sales. With its 2007 revenues approaching $167 million, the Asola partnership is one of Quantam’s biggest assets.
Announcement of a long-term solar cell agreement with Ersol Solar Energy AG.
