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Attention Business/News Editors:
The Government of Canada invests
in Questair Technologies to fuel advances in hydrogen economy
VANCOUVER, June 8 /CNW/ - Allan Rock, Minister of Industry,
and Herb Dhaliwal, Minister of Natural Resources, today announced
a $9.6-million strategic investment, through Technology Partnerships
Canada, in a $32-million research and development initiative
by QuestAir Technologies Inc. of Burnaby, British Columbia.
This funding assistance is designed to help QuestAir maintain
a technical edge and develop best-of-breed hydrogen purification
products for leading fuel cell developers in the emerging
hydrogen economy. QuestAir's technology will impact favourably
on the operation of most types of fuel cells and substantially
reduce the emission of greenhouse gases associated with the
production of hydrogen fuel from hydrocarbons such as natural
gas. This
Technology Partnerships Canada investment will greatly assist
in the progress Canadian industry leaders are making toward
building the hydrogen economy.
"Fuel cell technology represents a tremendous opportunity
for Canada," said Minister Rock. "Beyond the obvious
environmental benefits, hydrogen-based solutions will create
real advantages for our economy, providing significant growth
in knowledge-based jobs, new opportunities for other key industry
sectors, and a platform for growth in high-value exports."
"This funding commitment will enable QuestAir to develop
advanced technologies that reduce costs, and improve the efficiencies
of fuel cells and the hydrogen infrastructure," said
Minister Dhaliwal. "The development of these types of
solutions will help us achieve the goals of the Climate Change
Plan for Canada, and lead to a cleaner, more sustainable source
of energy."
With the second-largest number of employees in British Columbia's
emerging cluster of hydrogen and fuel cell companies, QuestAir
is an important player in fuel cell technology. Technology
Partnerships Canada funding supports QuestAir's outstanding
management and the talented technical team that continues
to develop this technology's potential, which is recognized
by leading international companies including Shell, the BOC
Group and Ballard
Power Systems.
This project will contribute to attaining Government of Canada
objectives of economic growth, job and wealth creation, and
support for sustainable development. This Technology Partnerships
Canada commitment will help create or maintain almost 250
jobs and generate third-party investment of more than $22
million.
"This investment by Technology Partnerships Canada strengthens
QuestAir's position as the market leader in the development
of compact, low-cost hydrogen purification systems,"
said Jonathan Wilkinson, President and Chief Executive Officer
of QuestAir. "Products developed in this program will
accelerate the commercial adoption of efficient, low-emission
fuel cell power sources."
"Compact, low-cost hydrogen purification devices will
play a key role in the commercialization of fuel cells and
the development of a hydrogen infrastructure," said Jeremy
Bentham, Chief Executive Officer of Shell Hydrogen. "It
is gratifying to see the Canadian government partnering with
QuestAir, the leader in this area, to bring this exciting
technology to market. It underpins the importance of an effective
partnership between government and business in the early stage
of development in this promising sector."
Technology Partnerships Canada, a key instrument of Canada's
Innovation Strategy, makes strategic, conditionally repayable
investments in great Canadian ideas - the currency for success
in the 21st century. Technology Partnerships Canada's critical
and timely investments in research and development promote
innovation, commercialization, sustainable development and
increased private sector investment, while enhancing the quality
of life for all Canadians.
Backgrounder
Government of Canada Partnership with
QuestAir Technologies Inc.
Technology Partnerships Canada will invest $9.6 million in
a $32-million research and development initiative with QuestAir
Technologies Inc. This funding will enable QuestAir to develop
advanced technologies to reduce the costs and improve the
efficiency of fuel cells and hydrogen infrastructure, thereby
contributing to the Climate Change Plan for Canada.
This funding is necessary for QuestAir to maintain a technical
edge and develop best-of-breed products for leading fuel cell
developers in the emerging hydrogen economy. Technology Partnerships
Canada's support is important in assisting QuestAir in meeting
its research and development scope and timing targets for
this project's market entry. Total Technology Partnerships
Canada support to fuel cell technology and hydrogen production
technology to date is approximately $60 million. The QuestAir
contract brings that total to approximately $70 million.
QuestAir's hydrogen purification products, based on QuestAir's
fast-cycle pressure swing absorption (PSA) technology will
increase the efficiency and reduce the cost of fuel cell power
plants of various types, and the supporting infrastructure
required to generate hydrogen fuel from hydrocarbon sources
such as natural gas.
This proposed project would contribute to attaining Government
of Canada objectives of economic growth, job and wealth creation,
support for sustainable development, and obligations under
Kyoto as will be delivered under the Climate Change Plan for
Canada. The project would also contribute to the Innovation
Strategy targets of increasing the level of research and development
in Canada, and doubling the Government of Canada's investment
in research and development by 2010.
This investment is consistent with the continuing progress
that Canadian industry is making toward fuel cell commercialization,
with particular reference to the Canadian Fuel Cell Commercialization
Roadmap, which Allan Rock, Minister of Industry, released
on April 15, 2003. The Roadmap identifies how Canadian companies,
institutions and governments can plan their investment decisions,
industrial development activities, and research and educational
programs to accelerate the commercialization of fuel cell
and hydrogen
technologies, which hold significant potential for environmental
benefit and economic opportunity.
The Roadmap identifies four key steps to be taken in order
for the Canadian fuel cell industry to extend its leadership
position in this emerging technology. Those steps are:
- stimulating market demand;
- improving product quality, while reducing costs;
- gaining increased access to capital for growth;
and
- creating a support infrastructure.
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QuestAir is a private company, based in Burnaby, British
Columbia, that is focused on becoming the world's leading
developer and supplier of compact pressure-swing adsorption
gas purification technology. Its proprietary gas purification
technology is being applied to several existing and emerging
world markets, including industrial hydrogen production, as
well as stationary and automotive fuel cells. In all applications,
QuestAir technology allows
customers to substantially reduce the cost and size of their
products, while increasing the efficiency of their processes.
QuestAir's proven technical accomplishments and management team
have attracted long-term financial commitment from world-class
strategic partners (Ballard Power Systems, Shell and the BOC
Group) and several venture capital investors knowledgeable in
fuel cells investment. With this investment, QuestAir Technologies
Inc. expects to create or maintain 248 jobs and generate third-party
investment of $22.4 million.
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For further information please contact:
Selena Beattie
Office of Allan Rock, Minister of Industry
(613) 995-9001
Media Relations, Industry Canada
(613) 943-2502
Alexandra Muir
Office of Herb Dhaliwal, Minister of Natural Resources
(613) 947-8246
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