SOURCE: Energy Quest, Inc.

December 22, 2009 08:00 ET

Energy Quest M2 Fluid Bed Gasifier Converts Coal to Syngas

Gasification System Produces Synthetic Gas From Coal at Economic Levels

HENDERSON, NV--(Marketwire - December 22, 2009) - Energy Quest, Inc. ("EQI") (OTCBB: EQST), an emerging leader in alternative energy and the development and production of hydrogen-enriched alternative fuels in an environmentally responsible manner.

The company's Modular M2 Fluidized Bed Gasification System can convert coal into usable synthetic gas at a cost of approximately US $2.50 per million BTU (MMBTU). The economics of a 400 million BTU per hour coal to synthetic gas gasification system result in production of 3.2 trillion BTU per annum. With prices of natural gas priced in million BTUs (MMBTU) reaching $6.00 this year, when calculated at $5.00, the revenue generated from the sale of synthetic gas should reach $16 million for each Energy Quest 400 MMBTU Modular Gasification system; with operating costs estimated at $8 million. Included in the cost estimates are the cost of the annual required 200,000 tons of coal. The syngas generated by the gasification process can be utilized to generate electricity and or process heat. The Energy Quest process results in a significant decrease in greenhouse gases because of higher coal to energy conversion rate.

More information on the M2 Gasifier is available on EQI's web-site: http://www.nrgqst.com/gasifier.html

"This highly efficient Modular Gasification Syngas process will be of special interest to coal rich, natural gas poor countries," stated Wilf Ouellette, President and CEO of Energy Quest, Inc.

About Energy Quest

Energy Quest, Inc., a Nevada Corporation, is an emerging leader in the development, construction and marketing of low-cost alternate fuels worldwide. Through superior technology, the Company is focused on becoming a GreenPowerhouse™. Record energy prices, combined with the global focus moving rapidly towards addressing pollution, has heightened the need for sustainable, zero emission energy. Energy Quest's technology is based on clean, renewable energy, positioning it to benefit from global trends. Web-site http://www.nrgqst.com/

Forward-Looking Statements

From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.

Contact Information

  • Contact:
    Energy Quest, Inc.
    Investor Relations
    877-661-2112/888-619-2221 or 404-478-9845 Ext: 102
    e-mail: info@nrgqst.com