QuestAir Technologies Inc.

QuestAir Technologies Inc.

September 20, 2007 08:00 ET

QuestAir Receives Two Awards in 2007 Deloitte Technology Fast 50 Awards Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - QuestAir Technologies Inc. (TSX:QAR)(AIM:QAR) has been recognized with the Deloitte Technology Green 15 Award, a new award that salutes companies creating major breakthroughs in the field of green technology. In addition, QuestAir was once again named to the prestigious Deloitte Technology Fast 50, a ranking of the 50 fastest-growing technology companies in Canada based on the percentage of revenue growth from 2002 to 2006.

Jonathan Wilkinson, QuestAir President and CEO, said: "We are very pleased to be recognized in the Deloitte Technology Fast 50 Program. Much of our growth in revenues is derived from the sale of products for use in environmentally beneficial applications. Our methane purification systems are being used by customers in North America and Europe to extract valuable bio-methane from landfill gas and agricultural waste. Capturing and purifying biogas generated by landfills, waste water treatment and agricultural waste provides environmental benefits by reducing the amount of methane released into the atmosphere, and economic benefits by better utilizing a by-product of organic waste."

"Similarly, our hydrogen purification systems offer environmental and economic benefits to our clients when they are used to capture and purify hydrogen contained in industrial off-gases. This allows customers to recycle hydrogen, reducing their consumption of natural gas, which is traditionally used to generate hydrogen," Wilkinson added.

"The Deloitte Technology Green 15 awards were created because much of the popular focus on environmental solutions often rests on more visible manifestations like wind farms, solar farms and ethanol production facilities," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Honouring companies such as QuestAir is raising awareness of the innovative, powerful technologies invested here in Canada that work behind the scenes to enable the green applications we benefit from today."

From 2002 to 2006, QuestAir's revenue increased 762 percent, resulting in a 26th ranking overall in the Deloitte Technology Fast 50. This is the second year in a row that QuestAir has been recognized by this prestigious award.

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 refueling stations. 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".

About the Deloitte Technology Fast 50

This year marks the 10th anniversary of the Deloitte Technology Fast 50 program, which celebrates business growth, innovation and entrepreneurship. The program features four distinct categories including the Deloitte Technology Fast 50 Ranking, Companies-towatch Awards (honouring early-stage Canadian technology companies in business for less than five years), Leadership Awards (Deloitte Technology Fast 50-ranked companies that demonstrate leadership in each of the four industry subcategories of emerging technologies, hardware, software, and telecommunications), and the Deloitte Technology Green 15 Awards (honouring companies creating innovative and economically viable intellectual property in the burgeoning field of green technology). Deloitte Technology Fast 50 winners are automatically eligible for the prestigious Deloitte Technology Fast 500 ranking. For further information, visit or call 1-888-6-FAST50.

Forward Looking Statements

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.

Contact Information

  • QuestAir Technologies Inc.
    Sherry Tryssenaar
    Chief Financial Officer
    (604) 453-6902
    Buchanan Communications
    Charles Ryland
    UK Media Contact
    +44 (0) 20 7466 5000
    Buchanan Communications
    Ben Willey
    UK Media Contact
    +44 (0) 20 7466 5000
    Karyo Edelman
    Stephen Burega
    Canadian Media Contact
    (604) 623-3007