Questor Technology Inc. Announces $5.8 MM Clean Combustion to Power Project Award

CALGARY, Alberta, Jan. 07, 2019 (GLOBE NEWSWIRE) — Questor Technology Inc. (“Questor” or the “Company”) (TSX-V: QST) is pleased to announce that it has received a Purchase Order to supply our clean combustion incineration technology with our power generation equipment at three oil and gas production facilities in Mexico comprising a total project award amount of $5.8 million. Questor is pleased to showcase its technologies to eliminate gas flaring and methane for a significant asset owner within the oil and gas sector in Mexico.

In Mexico, on November 6, 2018, the general provisions that establish the prevention and comprehensive control of methane emissions from the oil and gas industry were published.

These new rules are applicable to both new and existing installations for the projects in which the following activities are carried out:

• The exploration and extraction of hydrocarbons;
• The treatment, refining and storage of oil, and
• The processing, compression, liquefaction, decompression and regasification, as well as transportation by pipeline, storage and distribution of natural gas.                              

Ultimately Mexico has targeted methane reduction as part of its environmental objectives to reduce emissions by up to 75% by 2025.

Our client has recognized the benefits of Questor’s high performance incineration system, destroying in excess of 99.99% of methane, volatile organic compounds and other hazardous pollutants.  Operators who do not comply with new, strict emissions regulations will be subject to fines and are at risk to have oil production shut in.  Questor’s emissions control technology will ensure operating compliance under the new targets.  In addition, Questor will utilize the thermal energy in the combusted waste gases to generate power that will be utilized at the oil and gas facilities.  Mexico’s environmental regulations also reward companies who are able to harness benefits from associated gas such as the generation of power.

Questor acquired ClearPower Systems (CPS) on January 31, 2014 and will collaborate closely with CPS, a wholly owned subsidiary of Questor Technology, to integrate three organic rankine cycle (ORC) power generation systems with three (3) of Questor’s clean combustion incinerators.  With Mexico’s environmental regulations and aggressive emissions targets, Questor anticipates significant interest in its unique and efficient solutions to reduce methane and eliminate harmful emissions.

“Questor is pleased to be chosen as part of the solution in assisting Mexico to achieve their emission reduction goals, another example that our effective and cost-saving solutions transcend borders”, commented Ms. Audrey Mascarenhas, Questor’s President and CEO.  “From the provision of our proprietary, high-performance combustion technology to the use of the resulting excess heat to generate electricity, it is appropriate that we are showcasing our innovations where there is commitment to protecting the environment and improving air quality. This solution has applicability globally where over 14 billion standard cubic feet of gas is flared and vented daily.”

ABOUT QUESTOR TECHNOLOGY INC.

Questor Technology Inc. (“Questor” or the “Company”) is incorporated in Canada under the Business Companies Act (Alberta).  Questor is a public, international environmental Cleantech company founded in 1994 and headquartered in Calgary, Alberta, with field offices located in; Grande Prairie, Alberta; Brighton, Colorado; and Brooksville, Florida.  The Company is active in Canada, the United States, Europe and Asia and is focused on clean air technologies that safely and cost effectively improves air quality, support energy efficiency and greenhouse gas emission reductions. Questor designs, manufactures and services high efficiency waste gas combustion systems; as well as, power generation systems and water treatment solutions utilizing waste heat. The Company’s proprietary incinerator technology is utilized worldwide in the effective management of Methane, Hydrogen Sulphide gas, Volatile Organic Hydrocarbons, Hazardous Air Pollutants and BTEX gases ensuring sustainable development, community acceptance and regulatory compliance. Questor and its subsidiary, ClearPower Systems are providing solutions for landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat in addition to a wide variety of oil and gas projects in Canada, throughout the United States, the Caribbean, Western Europe, Russia, Thailand, Indonesia and China.

Questor trades on the TSX Venture Exchange under the symbol ‘QST’.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document is not intended for dissemination or distribution in the United States.