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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Questair Tech | LSE:QAR | London | Ordinary Share | CA74836V2057 | COM SHS NPV (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
QuestAir provides strategic update BURNABY, BC, Oct. 27 /CNW/ - QuestAir Technologies Inc. ("QuestAir" or "the Company"; TSX: QAR; AIM: QAR), a developer and supplier of proprietary gas purification systems, is refocusing its business strategy based on recent sales successes, emerging market opportunities and current business conditions. QuestAir will: - focus on the growing biogas market - offer integrated biogas purification plants - market and support its hydrogen products in defined markets - support ExxonMobil's marketing of the H-6200 hydrogen purifier in the refinery sector, though orders for this product are unlikely to be received in fiscal 2009 The strategic emphasis on biogas recognizes the significant growth potential of this market as gas utilities, consumers and businesses increase their demand for cleaner fuels. "Focusing on the biogas market, specifically by offering products and services to upgrade biogas into renewable natural gas, will allow us to transition the company from being an equipment supplier to a provider of solutions for customers," said Andrew Hall, President and CEO of QuestAir. QuestAir is an established supplier to the biogas market. The Company has supplied methane purifiers to 10 plants worldwide that upgrade biogas for injection into existing natural gas pipelines and distribution to homeowners, or for use as a renewable vehicle fuel. In the past year, QuestAir has signed supply and distribution agreements with project developers in Europe and the United States, and a memorandum of understanding and partnership agreement with Terasen Gas in British Columbia. Although QuestAir will focus its growth initiatives on the biogas market, the Company will continue to work with current hydrogen customers and market its hydrogen products in markets where QuestAir has competitive advantages. The large scale refinery hydrogen purifier, the H-6200, has been a significant technical success for QuestAir. However, commercial uptake of this product has not met expectations. "Based on recent information and current economic conditions, it appears unlikely that we will receive any commercial orders for H-6200 units in fiscal 2009," said Hall. "ExxonMobil continues to market the H-6200, and QuestAir will continue to support ExxonMobil's marketing activities in the refinery sector." QuestAir will release its financial and operational results for fiscal 2008 in early December. At the same time, management will provide further details on its strategic direction in the biogas market, as well as financial guidance for fiscal 2009. About QuestAir Technologies Inc. QuestAir Technologies, Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including biogas production, natural gas processing and oil refining. 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". Forward Looking Statements 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: QuestAir Technologies Inc.: Andrew Hall, Phone: (604) 453-6967, Email: hall(at)questairinc.com; Sherry Tryssenaar, Phone: (604) 453-6902, Email: tryssenaar(at)questairinc.com; UK media contact: Charles Ryland, Ben Willey, Buchanan Communications, Phone: +44 (0) 20 7466 5000; Canadian media contact: Ian Noble, Karyo Communications, Phone: (604) 623-3007; Canaccord Adams: Robert Finlay, Phone: +44 (0) 207 050 6500 (QAR. QAR) END
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