ExxonMobil and QuestAir Technologies Address Increased Hydrogen Needs in the Refining Industry
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FAIRFAX, Va. & BURNABY, B.C.-May 2, 2006-ExxonMobil Research and Engineering Company ("EMRE") and QuestAir Technologies Inc. (AIM:QAR) (TSX:QAR) announced today that they have signed an agreement to jointly market a novel, large capacity hydrogen purifier as a compact solution for hydrogen recovery in the oil refining industry.
QuestAir has been working with EMRE since 2003 to develop this advanced, rapid cycle pressure swing adsorption ("RCPSA") system, marketed as the H-6200, for use in oil refineries and petrochemical plants. A prototype plant test is planned at an ExxonMobil refinery beginning the second half of 2006.
Jonathan Wilkinson, President and CEO of QuestAir, said, "This marketing agreement is a significant milestone in the commercialization of the advanced hydrogen purifier that QuestAir is developing in collaboration with EMRE. We expect to begin jointly marketing this product to refineries immediately."
The multi-year agreement signed today covers the marketing of the H-6200 hydrogen RCPSA to third party customers in the oil refining industry. Under the terms of the agreement, EMRE will lead the marketing effort to refinery customers. QuestAir will support EMRE's marketing efforts, and will be the contracting party responsible for manufacturing, supplying and commissioning of plants sold to refinery customers.
The commercial gain from the sale of the product will be shared between QuestAir and EMRE based on the contributions made by each party towards the research, development and commercialization of the product.
About the H-6200
The H-6200 hydrogen purifier incorporates QuestAir's proprietary Rapid-Cycle Pressure Swing Adsorption ("RCPSA") technology, which operates at significantly higher cycle speeds than conventional PSA systems. This results in a direct reduction in the size and cost of the equipment required to purify a given volume of product gas. The H-6200 will be marketed in the oil refining industry as a compact solution for hydrogen recovery, helping refineries address the growing demand for hydrogen to process increased supplies of heavy, sour crude oil.
About ExxonMobil Research and Engineering Company
EMRE is the downstream research and engineering arm of Exxon Mobil Corporation (NYSE:XOM), a leading global oil, natural gas, and petrochemicals company whose subsidiaries have operations in nearly 200 countries and territories. Additional information regarding ExxonMobil and technologies it licenses can be found at www.exxonmobil.com/refiningtechnologies.
About QuestAir Technologies Inc.
QuestAir Technologies Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refuelling stations. The Company has joint development agreements with ExxonMobil Research and Engineering Company and Shell Hydrogen, and a collaboration with FuelCell Energy. 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."
Contacts
ExxonMobil
News Media Desk,
703-846-4467
QuestAir Technologies Inc.
Andrew Hall, 001 604-453-6967
Email: hall@questairinc.com
Web: www.questairinc.com
UK media contact:
Buchanan Communications
Charles Ryland, 020 7466 5000
Ben Willey, 020 7466 5000
Eleanor Williamson, 020 7466 5000
Canadian media contact:
James Hoggan & Associates
Terry Foster, 001 604-739-7500
