Quantum Announces $18.75M Private Placement

23 June 2007

Quantum Fuel Systems Technologies Worldwide has entered into definitive agreements with certain of its existing institutional investors as well as new institutional investors for an aggregate private placement of $18.75 million of common stock.

Quantum will sell a total of 12.5 million shares at $1.50 per share, representing a discount from the June 21, 2007 closing price of $2.09. The investors will also receive warrants to purchase approximately 15.0 million shares of common stock at $2.09 per share, which includes approximately 2.5 million to be provided to existing shareholders as consideration for executing waivers of certain rights obtained in a private placement financing completed in October 2006.