Questor announces sale of clean combustion unit in Nigeria

CALGARY, Alberta, July 31, 2024 (GLOBE NEWSWIRE) — Questor Technology Inc. (“Questor” or the “Company”) (TSX-V: QST) is pleased to announce that it has received a $1 million dollar order to supply a clean combustion solution to an energy company in Nigeria. Questor’s clean combustion unit will be a critical component of a Nigerian government-approved pilot project aimed at eliminating flaring in upstream oil production processes.

Oil continues to play a vital role in Nigeria’s economy and funds the country’s day-to-day operations. This investment in Questor’s technology will ensure that oil is produced in a clean and more sustainable manner. Questor’s ISO 14034-certified clean combustion technology safely processes the associated gas from oil production, eliminating methane and other harmful pollutants at 99.99 percent efficiency, exceeding stringent emissions regulations worldwide. Questor’s innovative unit design also significantly reduces capital, fuel and operating costs for our customers at oil and gas processing facilities and refineries.

“We are proud to support Nigeria’s goal of achieving net-zero emissions by 2060,” said Audrey Mascarenhas, President and Chief Executive Officer of Questor. “Our technology not only meets but exceeds the latest emissions regulations, providing an effective solution for sustainable energy production.”

Questor continues to advance its clean combustion technology to meet and exceed stringent emissions standards in North America and other key markets. With more than 25 years of experience delivering emissions reduction solutions to customers operating globally, Questor is well positioned to expand its market presence in Canada, the U.S. and internationally.

ABOUT QUESTOR TECHNOLOGY INC.

Questor Technology Inc., incorporated in Canada under the Business Companies Act (Alberta), is an environmental emissions reduction technology company founded in 1994 and operating globally. The Company focuses on clean air technologies that safely and cost-effectively improve air quality, support energy efficiency and reduce greenhouse gas emissions. The Company designs, manufactures and services highly efficient clean combustion systems that destroy harmful pollutants including methane, hydrogen sulfide gas, volatile organic hydrocarbons, hazardous air pollutants and BTEX gases (benzene, toluene, ethylbenzene and xylene) in waste gas streams with 99.99 percent efficiency under ISO 14034 certification. This enables its customers to meet emissions regulations, reduce greenhouse gas emissions, address community concerns and improve safety at industrial sites.

The company also has its own heat-to-power technology and is currently targeting new markets including landfill biogas, syngas, waste engine exhaust, geothermal and solar, waste heat from cement plants, as well as a wide range of oil and gas projects. The combination of Questor’s clean combustion and power generation technologies can help customers achieve net zero emissions targets at minimal cost. The company is also researching and developing data solutions to deliver an integrated system that brings together all available emissions detection data to provide a clear picture of the site’s emissions profile.

The Company’s common stock trades on the TSX Venture Exchange under the symbol “QST.” The Company’s registered office and principal place of business is 2240, 140 – 4 Avenue SW Calgary, Alberta, Canada, T2P 3N3.

QUESTOR IS TRADED ON THE TSX VENTURE EXCHANGE UNDER THE SYSTEM ‘QST’

Investor Relations Contact
Aly Sumar – Chief Financial Officer
[email protected]

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 press release.

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