Alternative energy company Quantum Fuel Systems Technologies Worldwide Inc. said Wednesday a Norwegian hydrogen energy company will invest $20 million in subsidiary Quantum Solar Energy Inc. in exchange for a 34 percent ownership stake.
In the agreement with New Energy Systems LLC, Quantum Solar will use the proceeds to establish a solar photovoltaic module manufacturing facility in Irvine, Calif., with an expected capacity of 45 megawatts a year.
Quantum Fuel shares rose 5 cents, or 3.9 percent, to $1.32 in midday trading. (AP)
