Asola Advanced and Automotive Solar Systems GmbH, the German solar partner of Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), has been awarded a contract by AS Solar GmbH for the supply of high-efficiency silicon photovoltaic solar modules, according to a Quantum release.
The value of this contract is estimated at $135 million over a three year period, beginning in 2008, and subject to final negotiations on quantity and price in 2009 and 2010.
AS Solar is a leading German integrated solar energy systems company with a strategic focus on Germany, Italy, and Spain. Asola will supply its 270-Watt and 230-Watt modules to AS Solar for installations primarily in Spain.
Quantum has recently announced acquisition of a 25% stake in Asola, and also a long-term supply contract with Ersol Solar Energy AG (ERSLF.PK) for the procurement of 155 megawatts (MW) of high-efficiency silicon photovoltaic solar cells, starting in 2008.
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. (http://www.qtww.com)
About Asola
Asola Advanced and Automotive Solar Systems GmbH produces and markets silicon-based photovoltaic modules. Asola’s technologies include high output and high efficiency flat modules for residential and industrial applications, specialized spherical modules for automotive applications and modules for various thin film technologies.
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