Quantum Fuel Systems Technologies Worldwide and Schneider Power have now completed the previously announced share exchange transaction, effective April 16. Through this transaction, Quantum acquires all of the issued and outstanding common shares of Schneider Power.
The transaction was effected by way of a plan of arrangement under the Business Corporations Act in Ontario.
Alan Niedzwiecki, president and CEO of Quantum said, “Since our announcement of this transaction in late 2009, we have become even more excited about the upside potential this acquisition brings to Quantum. The integration of Schneider’s team with ours is well in hand and we have seen the portfolio of Schneider’s renewable power-generation projects advance nicely.”