Quantum's Schneider Power Wind Division Signs CDN$24M Strategic Agreement for Supplying and Arranging Financing for North American Wind Farms

Quantum Fuel Systems Technologies Worldwide, Inc.

announced today that its wholly-owned subsidiary, Schneider Power Inc., through its wholly-owned subsidiary Trout Creek Wind Power Inc. has entered into a strategic agreement with a major global wind turbine manufacturer whereby, subject to the Manufacturer providing Trout Creek with a maximum of CDN$24,000,000 dollars to finance the construction of the generation facility, the Company will purchase and deploy the Manufacturers wind turbines for the 10 MW Trout Creek Wind Farm in Ontario, Canada. The Manufacturer and Trout Creek have agreed to use their best efforts to execute a definitive financing agreement by December 31, 2012. The agreement also provides for the wind turbines to meet the 50% local content requirement as stipulated by the Ontario Government's Feed in Tariff Program and is subject to certain conditions, including receipt of regulatory and other third party approvals. Alan Niedzwiecki, Quantum's CEO, commented, "We are excited about this relationship as it provides an opportunity for us to finance the Trout Creek and potentially other wind farms while retaining 100% ownership in each project. We are hopeful that the Trout Creek agreement will be the first among a broader strategic relationship aimed at financing and developing Schneider Power's global portfolio of 1,000 MW of wind farms."