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QuestAir was founded in 1996 to develop and commercialize proprietary innovations in PSA technology, with an initial focus on purifying hydrogen for fuel cell powered vehicles. Between 1997 and 2003, QuestAir raised over $60 million dollars from various venture capital funds and strategic investors in order to further the development of its products.
In May 2000, QuestAir demonstrated the application of its rapid-cycle PSA technology in fuel cell systems and, in late 2000, the Company installed its first hydrogen PSA in a demonstration hydrogen refueling station at SunLine Transit in Thousand Palms, California. The Company has been selling its first generation products into demonstration and commercial markets since 2001.
In 2003, QuestAir shifted the focus of its product development to existing industrial and petrochemical markets. As part of the change in strategic direction, the Company entered into a multi-year joint development agreement with ExxonMobil Research and Engineering to develop the large capacity PSA systems for oil refining and petrochemical markets. In October 2006, the term of this agreement was extended to April 2010.
In December 2004, QuestAir completed an initial public offering on the AIM Market of the London Stock Exchange Plc and the Toronto Stock Exchange. |
