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For Immediate Release 19 September, 2005
QuestAir Development Program with ExxonMobil Research and Engineering passes internal Exxon review
BURNABY, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) a developer and supplier of advanced gas purification systems for refinery, industrial and fuel cell markets provided an update today on its program with ExxonMobil Research and Engineering (“EMRE”) to develop a large capacity hydrogen purifier for use in oil refineries and petrochemical plants.
Key Developments
- The program has successfully passed a significant internal ExxonMobil program review, which has authorized funding from EMRE to support QuestAir’s construction of a prototype pressure swing adsorption (“PSA”) system to be installed at an ExxonMobil refinery in 2006.
- QuestAir is currently negotiating final contract terms for a series of purchase orders from EMRE totaling approximately US$2.7 million to fund the design and construction of the prototype. The initial purchase orders are to fund long lead items associated with the prototype plant. The purchase orders will also cover the purchase of a compressor to be included in the prototype plant.
- Based on the current timing of contract negotiations, the initial purchase orders to initiate prototype construction are expected in fourth quarter of calendar 2005.
- The prototype program will undergo a final ExxonMobil program review in late 2005. This review is part of ExxonMobil’s normal Gate review process and will focus largely on issues related to detailed engineering and project execution planning.
- The prototype plant will be demonstrated at an ExxonMobil refinery located in Europe, and is expected to be installed and operational in the second half of 2006.
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QuestAir has been working with EMRE since 2003 to develop a large capacity PSA system for use in oil refineries and petrochemical plants. To date, the company has received three engineering service contracts from EMRE totaling US$2.2 million to support this program.
Jonathan Wilkinson, President and CEO of QuestAir said “we are extremely pleased that our joint program has passed Exxon’s internal project review, and our plans to install and commission the prototype hydrogen PSA at an Exxon refinery in 2006 remain firmly on track.”
QuestAir’s gas purification technology is based on its proprietary innovations in pressure swing adsorption (PSA) technology that solve some of the inherent disadvantages of conventional PSA. Conventional PSA technology was introduced commercially in the 1960s and today is applied extensively in the production and purification of hydrogen, oxygen and nitrogen for industrial uses. QuestAir’s fast-cycle PSA technology operates at significantly higher cycle speeds than conventional PSA, resulting in a direct reduction in the size of equipment required to purify a given volume of product gas.
Certain statements in this press release may constitute ‘‘forward-looking’’ statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, ‘‘may’’, ‘‘will’’ and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.
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About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refuelling stations. The Company has joint development agreements with Exxon Mobil Research and Engineering Company and Shell Hydrogen, and a collaboration with FuelCell Energy. QuestAir is based in Burnaby, British Columbia and its shares trade on the AIM Market of the London Stock Exchange Plc. and on the Toronto Stock Exchange under the symbol “QAR”.
For further information please contact:
QuestAir Technologies Inc.
Andrew Hall
Director, Corporate Development and External Communications
Phone: (001) 604-453-6967
Email: hall@questairinc.com
Web: www.questairinc.com
UK media contact:
Charles Ryland
Ben Willey
Eleanor Williamson
Buchanan Communications
Phone: 020 7466 5000
Canadian media contact:
Terry Foster
James Hoggan + Associates
Phone: (001) 604-739-7500 |
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