SOURCE: Quantum Energy, Inc.

February 22, 2017 07:00 ET

Quantum Energy, Inc. Stoughton Refinery Update

TEMPE, AZ--(Marketwired - Feb 22, 2017) - Refinery and energy processing developer Quantum Energy, Inc. (OTC PINK: QEGY) issued the following shareholder update on recent corporate activities for the Dominion Energy Processing Group, Inc. (DEPGI) refinery project in Stoughton, Saskatchewan:

Quantum's Canadian subsidiary, Dominion Energy Processing Group, Inc. hosted two public meetings in Saskatchewan with each attended by more than 250 people. The first meeting was held on January 19, 2017 in Stoughton as a public forum to introduce and describe the proposed refinery project. The meeting was a success with overwhelming public support and received favorable local news coverage.

The second meeting was held on February 15, 2017 and was a meeting for prospective contractor's which was also well received with a large attendance.

"As the Stoughton Project moves toward realization, we want to acknowledge the tremendous support of all our stakeholders. The enthusiastic reception and overwhelming support of the public for both of these meetings was a strong indication of the viability of our project," said Keith Stemler, CEO of DEPGI.

Dominion reminded the audiences that key project design variables will also include the following:

  • CO2 recapture to limit greenhouse emissions and to support long-term tertiary recovery for EOR within the Canadian Bakken/Torquay region.
  • The development of an 85MW steam driven co-generation power plant that will not emit atmospheric CO2.
  • Variable control system that will enable the plant to modulate between varieties of commodity products.

DEPGI is in the process of finalizing its feedstock agreement(s) and is actively in discussions for long-term product off-take. "Once we conclude our front and back end agreements, Quantum Energy, Inc. / DEPGI will seek to finalize its project equity and debt participation," said Stan Wilson, Chairman and CEO of Quantum Energy, Inc. 

For project specific inquiries, contact:

Keith Stemler, CEO DEPGI,

About Quantum Energy, Inc.

QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution primarily in the Bakken field

Safe Harbor Forward-Looking Statements

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

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    Quantum Energy, Inc.