Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) develops and produces advanced propulsion systems, energy storage technologies and alternative fuel vehicles. The company’s portfolio includes products integral to the advancement of alternative energy-fueled technologies.
Quantum’s products include 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.
The company announced it will join the Russell 3000 Index and the Russell Global Index when Russell Investments reconstitutes the indexes on June 27, 2008. Russell Investments’ annual reconstitution collects 4,000 of the largest U.S. stocks, as recorded by the end of May. Quantum’s inclusion in the index will boost the company’s presence to investors and will increase its presence in the advanced energy markets, creating awareness of its technologies.
“Being included in the Russell 3000 Index is a great opportunity to increase our visibility within the investment community and supports our viability as a premier provider of advanced energy technologies and solutions,” Alan P. Niedzwiecki, president and CEO of Quantum stated in the press release. “We believe we are on the leading edge of a new automotive age as we move to the electrification of the automobile. As worldwide demand and other pressures on oil, such as an over reliance by developing countries, continues to rise, and as people seek cleaner and more renewable power sources, demand for our hybrid propulsion systems and other alternatives such as Quantum’s fuel cell systems technology, will continue to increase.”
The Russell indexes are frequently used by investment managers and institutional investors for index funds and as benchmarks for various investment strategies. The index was created in the 1980s to evaluate outside investment managers.
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