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For Immediate Release 26 October, 2006
QuestAir and ExxonMobil Research and Engineering Company extend term of joint development agreement
VANCOUVER, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) announced today that it has extended the term of its joint development agreement (“JDA”) with Exxon Mobil Research and Engineering (“EMRE”) to April 30, 2010.
The JDA was put in place in late 2003 to allow QuestAir and EMRE to develop products based on QuestAir’s novel Rapid Cycle PSA technology for refinery and petrochemical applications. QuestAir has been working with EMRE since 2003 under a JDA to develop the H-6200 hydrogen purifier for use in oil refineries and petrochemical plants.
Jonathan Wilkinson, President and CEO of QuestAir said “The agreement signed today extends the exclusivity period of our research collaboration in refinery and petrochemical applications with EMRE for a further 36 months. This will allow us to complete additional product development work with EMRE to extend the H-6200 product platform into additional markets in the oil refining and petrochemical sectors.”
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 refueling stations. 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
Phone: (001) 604-453-6967
Email: hall@questairinc.com
Web: www.questairinc.com
UK media contact:
Charles Ryland
Ben Willey
Buchanan Communications
Phone: +44 (0) 20 7466 5000
Canadian media contact:
Glen Edwards
Karyo Communications
Phone: (001) 604-623-3007 |
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