September 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) said that the California Energy Commission has approved a low-interest loan for the amount of $4.4 million under the state's Clean Energy Business Financing Program for California-based manufacturers of solar products.

According to Quantum, low-interest funds will go toward manufacturing equipment for the solar module facility in Irvine, California, to implement a plant capacity of 45 megawatts annually.

Quantum said that the manufacturing facility will replicate the equipment, processes and quality control measures employed at Quantum's affiliate Asola's 45 MW solar facility in Germany.

The facility will build solar modules incorporating proprietary technologies from Germany. Key materials including silicon solar cells are expected to be centrally purchased by Asola in Germany, from global sources to benefit from economies of scale, in line with the global strategic plan of Quantum and Asola. 

Quantum currently holds a 25% equity stake in Asola.  

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 wholly owned subsidiary, Schneider Power Inc., is engaged in the development and ownership of wind and solar farms.

Germany-based Asola Advanced and Automotive Solar Systems GmbH produces and markets silicon-based photovoltaic modules that comprise mono-crystalline or polycrystalline silicon cells. Asola's technologies include high output and high efficiency flat modules for residential and industrial applications, and specialized spherical modules for automotive applications.

Asola is presently developing for Fisker Automotive's Fisker Karma vehicle, a spherically-bent solar car roof.

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