Questor Technology Inc. Announces Acquisition of ClearPower Systems, Inc.

Questor Technology Inc. Announces Acquisition of ClearPower Systems, Inc. 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Questor Technology Inc. 
TSX VENTURE SYMBOL:  QST 
FEBRUARY 5, 2014 
Questor Technology Inc. Announces Acquisition of ClearPower Systems, Inc. 
CALGARY, ALBERTA--(Marketwired - Feb. 5, 2014) -  
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 acquired 100% of the
outstanding shares of ClearPower Systems, Inc. ("ClearPower"), a
company incorporated in Delaware in the United States of America (U.S.) for
$900,000 US. This acquisition was funded from Questor's cash reserves.
ClearPower has developed an efficient 50 kW organic Rankine cycle
("ORC") system that converts waste heat to power. This acquisition
will assist in diversifying Questor's product solutions and open up global
opportunities in other industries.  
ClearPower's ORC technology can function independently with all sources of
waste heat and can be used synergistically with waste heat streams from
Questor's incinerators. The heat generated from the 99.99% efficient
combustion of waste gases in Questor's incinerators will drive the
ClearPower 50 kW ORC's. "This acquisition will enable us to offer a
solution to our clients that not only addresses their emission issues but can
provide an economic benefit by generating power for use at site or to the grid
in a cost effective way while significantly reducing the site carbon
footprint", said Audrey Mascarenhas, Questor's President and Chief
Executive officer. "Many jurisdictions offer a premium price for power
generated from waste heat." These ORC'S are an ideal size to serve
the market that Questor has provided combustion solutions to for the past 20
years.  
We are also excited at the prospect of connecting this power generation
solution directly to other waste heat sources, such as compressors and engines.
Outside of the energy sector, the landfill market, agriculture, sewage and
water treatment all produce waste gases requiring combustion which extracting
heat for power is expected to be a competitive advantage. There are numerous
sources of waste heat that will prove opportune for this technology, which is
expected to present significant growth prospects for Questor.  
This acquisition has also created a presence for Questor in the U.S. We are
pleased to welcome Mr. Robert (Bob) B. Miller and Mr. Leigh L. Estus from
ClearPower to the Questor team. Bob Miller is a seasoned entrepreneur with over
35 years of experience in providing cogeneration and combined heat to power
packages. He is a pioneer in this field and recognized worldwide for his
expertise in waste heat to power distributed generation. Bob was CEO and
co-founder of Turbogenix Inc., which merged with Calnetix Inc. in 2008 and he
assumed the role of Senior Executive Vice President. General Electric acquired
a major portion of Calnetix in 2011. Prior to this Bob was Senior Executive
Vice President at Hess Microgen, a subsidiary of Amerada Hess. Leigh is a
senior executive with extensive experience in product development, design,
manufacturing and marketing. He served as Executive Vice President for
Strategic Programs and Planning at Calnetix and Senior Vice President of
Operations at Capstone Turbine Corp.  
This acquisition aligns with Questor's strategy of growth in global
diverse markets. 
ABOUT QUESTOR TECHNOLOGY INC. 
Questor is an international environmental oilfield service company founded in
late 1994 and headquartered in Calgary, Alberta, Canada with a field office
located in Grande Prairie, Alberta, Canada. The Company is focused on clean air
technologies with activities 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 also provides combustion-related oilfield
services. The Company's proprietary incinerator technology destroys
noxious or toxic hydrocarbon gases at 99.99% efficiency which ensures
regulatory compliance, environmental protection, public confidence and reduced
operating costs for customers. The technology creates an opportunity to utilize
the heat generated from efficient combustion. Questor is recognized for its
particular expertise in the combustion of sour gas (H2S). While the
Company's current customer base is primarily in the oil and gas industry,
this technology is applicable to other industries such as 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.  
Questor Technology Inc. was recognized as a TSX Venture 50(R) company in 2013.
TSX Venture 50 is a trademark of TSX Inc. and is used under license.  
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Questor Technology Inc.
Audrey Mascarenhas
President and Chief Executive Officer
(403) 571-1530
(403) 571-1539
amascarenhas@questortech.com 
INDUSTRY:  Energy and Utilities - Equipment, Energy and Utilities - Oil and Gas 
SUBJECT:  TMN 
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-0- Feb/05/2014 14:25 GMT
 
 
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