ExxonMobil Update
September 20 2005 - 3:02AM
UK Regulatory
RNS Number:4731R
QuestAir Technologies Inc
20 September 2005
For Immediate Release 20 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 are as follows:
* 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.
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.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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