For Immediate Release 24 April, 2006
QuestAir refinery program with ExxonMobil Research and Engineering passes Exxon review
VANCOUVER, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) announced today that its program with ExxonMobil Research and Engineering (“EMRE”) to develop a large capacity hydrogen purifier for use in oil refineries and petrochemical plants has passed a critical internal Exxon Mobil program review.
The review recommended funding for the construction and testing of a prototype pressure swing adsorption ("PSA") system at an Exxon Mobil refinery. QuestAir expects to receive a final purchase order covering these items, with an approximate value of US$2 million.
Jonathan Wilkinson, President and CEO of QuestAir, said that the Company has been working with ExxonMobil Research and Engineering since 2003 to develop a large capacity PSA system for use in oil refineries and petrochemical plants.
“Demonstration of the prototype PSA plant at an Exxon Mobil refinery is planned to start in the second half of 2006, and we expect to begin jointly marketing the product to refineries around the world beginning this year,” Wilkinson said.
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”.
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.
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 |
