Questor Technology Inc.
TSX VENTURE : QST

Questor Technology Inc.

March 24, 2008 09:15 ET

Questor Technology Inc. Operational Update

CALGARY, ALBERTA--(Marketwire - March 24, 2008) -

THIS DOCUMENT IS NOT INTENDED FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES.

Questor Technology Inc. ("Questor" or the "Company") (TSX VENTURE:QST) is pleased to announce that it has entered into an agreement with Terra Verde Emissions Credits Inc. to develop the protocol methodology and sale of the greenhouse gas credits ("offsets") in Alberta generated from the use of Questor's proprietary incinerator technology. New regulations in Alberta are creating market demand for these offsets to facilitate compliance with emissions targets. In 2007, the worldwide market for credits/offsets was valued at more than $59 billion and is predicted to grow exponentially in the wake of increasing focus on corporate responsibility and sustainability.

In addition to positioning Questor's products for the burgeoning credits/offsets market, Questor's primary focus has been on building sales and marketing infrastructure to capitalize on the significant market opportunity for our technology. In that regard, we are pleased to announce the appointment of Ritchie Stagg as Director of Sales and Marketing. Mr. Stagg brings a wealth of sales and marketing experience to our team. To complement his efforts, the Company has also entered into marketing arrangements with Ramsay Machine Works Ltd. and EMCS Industries Ltd., both headquartered in Sidney, British Columbia, for the purpose of targeting industries such as the oil sands, offshore oil and gas platforms, solid waste treatment, waste water treatment and landfills, all of whom would benefit from our technology. As well, Questor has entered into a strategic arrangement with Natco Group Inc. to market and fabricate our products for the United States market. Natco is headquartered in Houston, Texas with sales offices in the United States, Latin America, Southeast Asia, Japan, the United Kingdom, Scandinavia and Russia.

International awareness of and interest in our products and services continues. We will be meeting with China National Petroleum Corporation ("CNPC") and China Petrochemical International Company Ltd. ("SINOPEC") in Dazhou, China next month to discuss business opportunities for Questor's technology. We are also in discussion with a Nigeria based company to explore business initiatives arising from Nigeria's policy position to eliminate flaring by the end of 2008.

OTHER OPERATING HIGHLIGHTS

- Increasing activity and exposure in the marketplace has led to a substantial increase in requests for proposals. Since the beginning of 2008, Questor has received orders for five incinerators, two of which have already been delivered, with the balance to be delivered in the second and third quarters.

- Questor recently completed its first incinerator rental contract in the United States.

- The Company continues to investigate the commercialization of a waste heat to power conversion application.

- In collaboration with CrystaTech, Inc., we are exploring opportunities to provide a cost effective solution to address sour gas emissions from the oil sands.

Additional details regarding our fourth quarter results and prospects for 2008 will be provided in our financial reports to be filed by the end of April 2008.

ABOUT QUESTOR TECHNOLOGY INC.

Questor is an international environmental oil field service company focused on clean air technologies with operations in Canada, the United States, Europe and Asia. Questor designs and manufactures high efficiency waste gas incinerators for sale or for use on a rental basis and provides field burner services. The Company's proprietary incinerator technology destroys noxious or toxic hydrocarbon gases which ensures regulatory compliance, environmental protection, public confidence and reduced operating costs for clients. Questor is recognized for its particular expertise in the combustion of sour gas (H2S). While the Company's current client base is primarily in the oil and gas industry, this technology is applicable to other industries such as water and sewage treatment, landfills, 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.

The TSX Venture Exchange does not accept 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)
    Email: amascarenhas@questortech.com