As of Jan 31– the latest available reporting– with revenues of just $6M and and an operating loss of $12M for the quarter, to say that growth is slow at Quantum would be an understatement. So would could possible cause this to happen:
Quantum Fuel Systems Technologies Worldwide Inc., a partner in the creation of Fisker Automotive, has completed a private placement of Common Stock Units that has raised $12.3 million.
None other than the Fisker Karma. With the buzz around the Karma hitting a fever pitch it appears that Fisker’s channel partners are taking advantage as well. Currently Quantum only has a few small military test projects and a couple concepts up and running. With the Karma due for release the middle of next year it is as real as it gets for Quantum. By providing the Q Drive drivetrain and the solar panel roof Quantum has a couple of ponies in this race.
Quantum co-founded Fisker Automotive Inc., a joint venture with world-renowned automobile designer Henrik Fisker, which operates from offices in Irvine, Calif., and Pontiac where it set up an engineering center last fall. As a start-up company, Quantum depends on investment capital.
Proceeds of the stock sale, net of placement agent fees and expenses, will be used for general working capital purposes, Quantum officials said Tuesday.
[Source: The Oakland Press]