09:54:02 EDT Mon 23 May 2022
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Questor Technology Inc
Symbol QST
Shares Issued 25,132,370
Close 2013-10-22 C$ 1.20
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Questor receives $2.6-million in incinerator orders

2013-10-23 07:23 ET - News Release

Ms. Audrey Mascarenhas reports

QUESTOR TECHNOLOGY INC. ANNOUNCES SIGNED PURCHASE ORDERS FOR 17 INCINERATORS

Questor Technology Inc. has received purchase orders for eight incinerators of various sizes from a major crude oil and natural gas producer headquartered in Calgary, and for nine incinerators of various sizes from Dominion Transmission Inc., operator of one of the largest underground natural gas storage systems in the United States, headquartered in Richmond, Va. The values of the orders are $1.5-million and $1.1-million, respectively and the majority of the incinerators in both orders are expected to be delivered in the fourth quarter of 2013. Although each transaction individually is not considered material, in combination with the company's performance in the first half these orders will contribute to strong 2013 financial results for Questor.

Once delivered to the customer, the eight incinerators will be deployed in a well tie-in project in the oil sands to incinerate waste gas. Dominion will deploy the nine units to combust waste gas from dehydration units on several of their sites in Pennsylvania and West Virginia.

"Questor's incineration technology addresses the problematic global issues associated with flaring," said Audrey Mascarenhas, Questor's president and chief executive officer. "We are assisting our clients with regulatory compliance and environmental performance thereby helping them obtain the social licence to operate. Our technology delivers a 99.99-per-cent destruction/combustion efficiency of waste hydrocarbon gas eliminating the impurities that would be released into the air through inefficient combustion from flaring."

Flaring has become a significant issue with respect to air quality in many areas in Canada and the United States due to the tremendous growth in crude oil production resulting from the practice called fracing which releases more of the crude oil and natural gas contained within tight formations.

We seek Safe Harbor.

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