|
For Immediate Release November 07,
2002
SHELL HYDROGEN INVESTS IN HYDROGEN
PURIFICATION TECHNOLOGY COMPANY QUESTAIR TECHNOLOGIES INC.
AMSTERDAM, THE NETHERLANDS and BURNABY, BC – Shell
Hydrogen today announced that it has purchased an equity stake
in QuestAir Technologies Inc., a company that has developed
proprietary gas purification technology. The US$7 million
investment will enable the Canadian company to commercialize
and further develop technology that purifies hydrogen.
Purification technology is important to the development of
hydrogen as an energy source because the purity of hydrogen
fed into fuel cells affects their performance and useful lives,
and hence their economic viability. QuestAir, based in Vancouver,
aims to commercialize hydrogen purification devices for use
in fuel cell applications by 2006.
The transaction provides Shell Hydrogen with non-exclusive
access to QuestAir’s technology for use in a number of
applications, including stationary and automotive proton-exchange-membrane
(PEM) fuel cell systems, stationary solid oxide fuel cell
systems, vehicle hydrogen refuelling stations, and industrial
processing.
Furthermore, QuestAir will work with HydrogenSource LLC to
integrate its technology with HydrogenSource’s 150kW
fuel processing system. The product resulting from this effort
will be marketed to third party developers of larger scale
stationary PEM fuel cell power plants. HydrogenSource is a
joint venture between Shell Hydrogen and UTC Fuel Cells, a
unit of United Technologies Corp and a world leader in fuel
cell production and development.
Donald Huberts, Chief Executive Officer of Shell Hydrogen,
said: “The hydrogen economy needs compact, durable and
low-cost purification devices if its promise is to be fulfilled.
We believe that QuestAir’s technology will meet these
tests and our investment brings closer the day when hydrogen
becomes commercially viable for mass applications.”
Jonathan Wilkinson, President and CEO of QuestAir, said:
“Shell Hydrogen is a leader in developing hydrogen as
an energy source for the future and we are pleased that they
have chosen to make an investment in our company. Our gas
purification technology has the potential to make a significant
contribution especially now we have Shell’s help to bring
it to market.”
Shell Hydrogen will nominate a director to the QuestAir board.
-30-
About Shell Hydrogen
Shell Hydrogen is a global business of the Royal Dutch/Shell
Group of Companies with headquarters in Amsterdam, the Netherlands,
and regional bases in Houston, Hamburg and Tokyo. Shell Hydrogen
was set up in 1999 to pursue and develop business opportunities
related to hydrogen and fuel cells. For further information,
visit http://www.shell.com/hydrogen.
About QuestAir Technologies Inc.
QuestAir Technologies, Inc. has developed proprietary gas
purification technology that is being applied to several large
existing and emerging world markets, including industrial
hydrogen production and stationary and automotive fuel cells.
QuestAir's proprietary fast-cycle pressure swing adsorption
("PSA") technology allows the developers of fuel
cell systems to increase the efficiency of their products,
and offers a compact, cost effective gas purification solution
to QuestAir's industrial customers and developers of hydrogen
refueling infrastructure. QuestAir is a private company based
in Burnaby, British Columbia whose shareholders and strategic
partners include Shell Hydrogen, Ballard Power Systems and
the BOC Group.
For more information, please contact:
|
