QuestAir Technologies Inc., a developer and supplier of proprietary gas purification systems, is refocusing its business strategy based on recent sales successes, emerging market opportunities and current business conditions.
QuestAir will:
- focus on the growing biogas market
- offer integrated biogas purification plants
- market and support its hydrogen products in defined markets
- support ExxonMobil's marketing of the H-6200 hydrogen purifier in the refinery sector, though orders for this product are unlikely to be received in fiscal 2009
The strategic emphasis on biogas recognizes the significant growth potential of this market as gas utilities, consumers and businesses increase their demand for cleaner fuels.
"Focusing on the biogas market, specifically by offering products and services to upgrade biogas into renewable natural gas, will allow us to transition the company from being an equipment supplier to a provider of solutions for customers," said Andrew Hall, President and CEO of QuestAir.
QuestAir is an established supplier to the biogas market. The Company has supplied methane purifiers to 10 plants worldwide that upgrade biogas for injection into existing natural gas pipelines and distribution to homeowners, or for use as a renewable vehicle fuel. In the past year, QuestAir has signed supply and distribution agreements with project developers in Europe and the United States, and a memorandum of understanding and partnership agreement with Terasen Gas in British Columbia.
Although QuestAir will focus its growth initiatives on the biogas market, the Company will continue to work with current hydrogen customers and market its hydrogen products in markets where QuestAir has competitive advantages.
The large scale refinery hydrogen purifier, the H-6200, has been a significant technical success for QuestAir. However, commercial uptake of this product has not met expectations.
"Based on recent information and current economic conditions, it appears unlikely that we will receive any commercial orders for H-6200 units in fiscal 2009," said Hall. "ExxonMobil continues to market the H-6200, and QuestAir will continue to support ExxonMobil's marketing activities in the refinery sector."
QuestAir will release its financial and operational results for fiscal 2008 in early December. At the same time, management will provide further details on its strategic direction in the biogas market, as well as financial guidance for fiscal 2009. -- www.cnxmarketlink.com
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
