Questor Receives $4.5mm Investment From SDTC to Advance Its Waste Heat to Power Technology

Questor Receives $4

CALGARY, Alberta, Aug. 11, 2021 (GLOBE NEWSWIRE) — Questor Technology Inc. (“Questor” or the “Company”) (TSX Venture Exchange: QST) is pleased to announce that we have received $4.5 million of funding from Sustainable Development Technology Canada (SDTC) to support and expedite the development of the Company’s CPS 50-1500 kW modular, reliable, high efficiency waste Heat to Power generation systems. This project furthers the company’s overall global strategy to provide clean, practical, cost-effective solutions to reduce greenhouse gas emissions (GHG) supporting our clients’ ESG goals and their quest to net zero.

“With rising global GHG emissions, Questor’s game-changing waste heat to power generation technology is at the forefront of reducing emissions in a clean, cost-effective and sustainable way,” said Leah Lawrence, President and CEO, Sustainable Development Technology Canada. “We are proud to support Questor, among other Canadian climate tech entrepreneurs to grow and strengthen Canada’s green economy.” 

“We are thrilled by the recognition and support that we are receiving from SDTC for the development of our technology. We firmly believe that our innovative high efficiency Turboexpander and the latest developments in coupling and thermal recovery, is expected to increase the thermal efficiency from an industry standard of 16% up to 20%, by not only increasing the adiabatic efficiency of the turbine itself from 84% to near 96%, but by also using the latest magnetic couplings, unique bearing design, solid state electronics and high-speed permanent magnet motors. Generating power from low grade waste heat and improving energy efficiency is a very effective, low-cost way to reduce GHG emissions. Additionally, power from waste heat has zero emissions, a small footprint, is reliable 24/7, and the battery is very simple; a hot water/glycol tank. Recoverable waste heat in the United States is estimated at 14,594 MW in the manufacturing sector alone with over 63% in the 232 to 650 °C range. This technology development will facilitate diversification into a promising target market for Questor,” said Ms. Audrey Mascarenhas.

Methane, with a global warming potential 86 times higher that CO2 over a 20 year period, has recently become a global concern. Coupling the waste heat to power technology with Questor’s 99.99% efficient clean combustion technology as the heat source, significantly reduces greenhouse gas emissions with a 30% return on capital invested (ROI). The power generated from flared and vented gas can be used on site to displace diesel power generation or power from the grid, hence reducing operating costs. Alternatively it can be directed to the grid generating a revenue stream while reducing the site carbon equivalent emissions.

“We are grateful to be among some of the most talented innovators in the country funded by SDTC. The continued support from SDTC allows Canadian cleantech entrepreneurs to innovate and deliver solutions for a more sustainable future.” added Ms. Audrey Mascarenhas. “This funding comes at a critical time, as businesses adapt to meet the current economic realities. This commitment also forges a path for Canada’s economic future, enabling cleantech companies like ours to grow and scale to meet domestic and global demand for solutions in the Net Zero era.” 

About SDTC
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with the best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.

About Questor Technology Inc.

Headquartered in Calgary, Alberta, with operations across North America, the Company provides specialized waste gas clean combustion technology and services that destroy harmful pollutants in any waste gas stream at 99.99 percent efficiency enabling 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 data solutions to deliver an integrated system that amalgamates all of the emission detection data available and demonstrates how Questor’s combustion and power generation technologies can be used to help clients achieve net zero emission targets at their sites.

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

Audrey Mascarenhas
President and Chief Executive Officer
Phone: (403) 571-1530
Facsimile: (403) 571-1539
Email: amascarenhas@questortech.com
           Ann-Marie Osinski
Chief Financial Officer
Phone: (403) 539-4371
Facsimile: (403) 571-1539
Email: aosinski@questortech.com
     

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, 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.


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