April 21, 2010 (FinancialWire) — Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) said it has acquired all of the issued and outstanding capital stock of Schneider Power Inc. (TSX Venture: SNE).  

Following completion of the plan of arrangement, Jonathan Lundy, a former director and officer of Schneider Power, was appointed to Quantum's board of directors.

The business combination merges Schneider Power's wind and solar power generation development portfolio with Quantum's alternative fuel and solar power technologies to create a fully integrated renewable energy company, according to Quantum.

Quantum said that the combined portfolio will encompass products that enable energy efficient utilization in hybrid and fuel cell vehicles to solar module manufacturing and clean electricity generation for North American consumers.

California-based Quantum Fuel Systems Technologies is engaged in the development and production of propulsion systems, energy storage technologies, and alternative fuel vehicles.

Quantum's portfolio of technologies includes electronic controls, hybrid electric drive systems, hydrogen storage and metering systems and alternative fuel vehicle technologies meant to enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles.

Canada-based Schneider Power is a renewable energy firm with a portfolio in excess of 1,000 megawatts of electricity generation development projects and advanced exploration projects located across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America and the Caribbean.

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