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 purchase order valued at $1 million dollars, to supply a clean combustion solution to an energy company in Nigeria. Questor's clean combustion unit will be a critical component in a Nigerian government-approved pilot project aimed at eliminating flaring in upstream oil production processes.
Oil continues to play a crucial role in Nigeria's economy, funding the nation's day-to-day activities. This investment in Questor's technology will ensure that oil is produced cleanly and in a more sustainable way. Questor's ISO 14034 certified clean combustion technology safely handles associated gas from oil production and eliminates methane and other harmful pollutants at 99.99 percent efficiency, surpassing stringent emission regulations globally. The innovative design of Questor's unit 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 emission regulations, offering an effective solution for sustainable energy production."
Questor continues to advance its clean combustion technology to meet and exceed stringent emission standards in North America and other key markets. With over 25 years of experience providing emission reduction solutions to customers operating globally, Questor is well-positioned to expand its market presence in Canada, the US, 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, with global operations. The Company is focused on clean air technologies that safely and cost effectively improve air quality, support energy efficiency and greenhouse gas emission reductions. The Company designs, manufactures and services high efficiency clean combustion systems that destroy harmful pollutants, including Methane, Hydrogen Sulfide gas, Volatile Organic Hydrocarbons, Hazardous Air Pollutants and BTEX (Benzene, Toluene, Ethylbenzene and Xylene) gases within waste gas streams at 99.99 percent efficiency per its ISO 14034 Certification. This enables its clients to meet emission regulations, reduce greenhouse gas emissions, address community concerns and improve safety at industrial sites.
The Company also has proprietary heat to power generation technology and is currently targeting new markets including landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat in addition to a wide variety of oil and gas projects. The combination of Questor's clean combustion and power generation technologies can help clients achieve net zero emission targets for minimal cost. The Company is also doing research and development on data solutions to deliver an integrated system that amalgamates all of the emission detection data available to demonstrate a clear picture of the site's emission profile.
The Company's common shares are traded on the TSX Venture Exchange under the symbol "QST". The address of the Company's corporate and registered office is 2240, 140 – 4 Avenue S.W. Calgary, Alberta, Canada, T2P 3N3.
QUESTOR TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL 'QST'
Investor Relations Contact
Aly Sumar – Chief Financial Officer
investor@questortech.com
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.
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