Company Profiles
Hybrid Auto Parts Maker Struggles To Stay Afloat
May 21, 2009 (First in a multi-part series on solvency)
UC Davis photo
California governor Arnold Schwarzenegger
signs an executive order to create a
hydrogen highway on April 20, 2004.
Like many in the auto parts industry, California-basd Quantum Fuel Systems Technologies Worldwide is nervous about recent events in the U.S. auto industry. But unlike many, Quantum lacks established markets for its futuristic products and has never earned a profit. A secret lender comes to the rescue.
Quantum Fuel Systems Technologies Worldwide, Inc., a $26 million alternative fuel cell and hybrid auto parts manufacturer based in Irvine, California, has struggled with profitability and cash flow since going public on December 4, 2002. In fact, since 2005, a full three years after its IPO, Quantum has averaged $18.3 million in losses annually from continuing operations. The amount is higher when including losses from discontinued operations.
