Questor Technology Inc.

Questor Technology Inc.

October 26, 2015 18:56 ET

Questor Technology Inc. Announces New CFO and Corporate Secretary

CALGARY, ALBERTA--(Marketwired - Oct. 26, 2015) -


Questor Technology Inc. ("Questor" or the "Company") (TSX VENTURE:QST) is pleased to announce that Mr. Dan Zivkusic has been appointed Chief Financial Officer and Corporate Secretary effective today.

Mr. Zivkusic CPA, CMA is a multi-disciplined professional with over 20 years of oil and gas industry experience. Most recently he served as CFO for Reform Energy Services Corp. a private international company specializing in underbalance drilling, managed pressure drilling and production testing/flowback business.

Dan obtained his Certified Management Accountant designation in 1991 and is an active member of the Chartered Professional Accountants of Alberta.

Dan has a strong track record in the oil and gas industry with CFO and director experience for both private and public companies including E&P and service enterprises. In his prior roles, Dan has proven himself a key member of leadership teams - driving finance, M&A, strategic deal making and business development.

Ms. Mascarenhas, President and Chief Executive Officer, welcomes Dan to the Questor team and with his strong financial background and industry experience is confident that he will play a key role in Questor's operations and long-term strategic growth objectives.


Questor Technology Inc. is an international environmental technology company specializing in custom solutions to eliminate flared and vented gas. The Company is focused on clean air technologies with activities in Canada, the United States, Europe and Asia. Founded in 1994, Questor is headquartered in Calgary, Alberta with a field office in Grande Prairie, Alberta. Questor manufactures and services high efficiency waste gas incinerator systems, provides combustion and burner-related oilfield services as well as power generation systems. Questor incinerators are used worldwide in both permanent facilities as well as portable applications.

The Company's proprietary combustion technology destroys noxious or toxic hydrocarbon gases, thereby providing regulatory compliance, environmental protection, public confidence and reduced operating costs for customers. Questor is recognized for its particular expertise in the combustion of sour gas (H2S and CO2).

The technology creates an opportunity to utilize the heat generated from efficient combustion which can be used for water vaporization, process heat and power generation. In 2014, Questor acquired US-based, ClearPower Systems whose proprietary single-scroll Organic Rankine Cycle (ORS) system provides an efficient and cost effective means of converting heat energy into electrical power. ClearPower Systems is headquarted in Florida in the United States.

While the Company is focused primarily in the petroleum industry, its combustion technology is applicable to other industries including landfills, water and sewage treatment, tire recycling and agriculture.

Questor trades on the TSX Venture Exchange under the symbol 'QST'.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Questor Technology Inc.
    Audrey Mascarenhas
    President and Chief Executive Officer
    (403) 571-1530
    (403) 571-1539 (FAX)