The Government of Canada invests in Questair Technologies to Fuel Advances in Hydrogen Economy
The Government of Canada invests in Questair Technologies to Fuel Advances in Hydrogen Economy
http://www.questairinc.com
Burnaby, BC, June 9, 2003--QuestAir Technologies announced that Allan Rock, Minister of Industry, and Herb Dhaliwal, Minister of Natural Resources, announced a $9.6-million strategic investment, through Technology Partnerships Canada, in a $32-million research and development initiative by QuestAir Technologies.
This funding assistance is designed to help QuestAir maintain a technical edge and develop best-of-breed hydrogen purification products for leading fuel cell developers in the emerging hydrogen economy. QuestAir’s technology will impact favourably on the operation of most types of fuel cells and substantially reduce the emission of greenhouse gases associated with the production of hydrogen fuel from hydrocarbons such as natural gas. This Technology Partnerships Canada investment will greatly assist in the progress Canadian industry leaders are making toward building the hydrogen economy.
“Fuel cell technology represents a tremendous opportunity for Canada,” said Minister Rock. “Beyond the obvious environmental benefits, hydrogen-based solutions will create real advantages for our economy, providing significant growth in knowledge-based jobs, new opportunities for other key industry sectors, and a platform for growth in high-value exports.”
“This funding commitment will enable QuestAir to develop advanced technologies that reduce costs, and improve the efficiencies of fuel cells and the hydrogen infrastructure,” said Minister Dhaliwal. “The development of these types of solutions will help us achieve the goals of the Climate Change Plan for Canada, and lead to a cleaner, more sustainable source of energy.”
With the second-largest number of employees in British Columbia’s emerging cluster of hydrogen and fuel cell companies, QuestAir is an important player in fuel cell technology. Technology Partnerships Canada funding supports QuestAir’s outstanding management and the talented technical team that continues to develop this technology’s potential, which is recognized by leading international companies including Shell, the BOC Group and Ballard Power Systems.
This project will contribute to attaining Government of Canada objectives of economic growth, job and wealth creation, and support for sustainable development. This Technology Partnerships Canada commitment will help create or maintain almost 250 jobs and generate third-party investment of more than $22 million.
“This investment by Technology Partnerships Canada strengthens QuestAir’s position as the market leader in the development of compact, low-cost hydrogen purification systems,” said Jonathan Wilkinson, President and Chief Executive Officer of QuestAir. “Products developed in this program will accelerate the commercial adoption of efficient, low-emission fuel cell power sources.”
“Compact, low-cost hydrogen purification devices will play a key role in the commercialization of fuel cells and the development of a hydrogen infrastructure,” said Jeremy Bentham, Chief Executive Officer of Shell Hydrogen. “It is gratifying to see the Canadian government partnering with QuestAir, the leader in this area, to bring this exciting technology to market. It underpins the importance of an effective partnership between government and business in the early stage of development in this promising sector.”
Technology Partnerships Canada, a key instrument of Canada’s Innovation Strategy, makes strategic, conditionally repayable investments in great Canadian ideas - the currency for success in the 21st century. Technology Partnerships Canada’s critical and timely investments in research and development promote innovation, commercialization, sustainable development and increased private sector investment, while enhancing the quality of life for all Canadians.
Government of Canada Partnership with QuestAir Technologies Inc.
Technology Partnerships Canada will invest $9.6 million in a $32-million research and development initiative with QuestAir Technologies Inc. This funding will enable QuestAir to develop advanced technologies to reduce the costs and improve the efficiency of fuel cells and hydrogen infrastructure, thereby contributing to the Climate Change Plan for Canada.
This funding is necessary for QuestAir to maintain a technical edge and develop best-of-breed products for leading fuel cell developers in the emerging hydrogen economy. Technology Partnerships Canada’s support is important in assisting QuestAir in meeting its research and development scope and timing targets for this project’s market entry. Total Technology Partnerships Canada support to fuel cell technology and hydrogen production technology to date is approximately $60 million. The QuestAir contract brings that total to approximately $70 million.
QuestAir’s hydrogen purification products, based on QuestAir’s fast-cycle pressure swing absorption (PSA) technology will increase the efficiency and reduce the cost of fuel cell power plants of various types, and the supporting infrastructure required to generate hydrogen fuel from hydrocarbon sources such as natural gas.
This proposed project would contribute to attaining Government of Canada objectives of economic growth, job and wealth creation, support for sustainable development, and obligations under Kyoto as will be delivered under the Climate Change Plan for Canada. The project would also contribute to the Innovation Strategy targets of increasing the level of research and development in Canada, and doubling the Government of Canada’s investment in research and development by 2010.
This investment is consistent with the continuing progress that Canadian industry is making toward fuel cell commercialization, with particular reference to the Canadian Fuel Cell Commercialization Roadmap, which Allan Rock, Minister of Industry, released on April 15, 2003. The Roadmap identifies how Canadian companies, institutions and governments can plan their investment decisions, industrial development activities, and research and educational programs to accelerate the commercialization of fuel cell and hydrogen technologies, which hold significant potential for environmental benefit and economic opportunity.
The Roadmap identifies four key steps to be taken in order for the Canadian fuel cell industry to extend its leadership position in this emerging technology. Those steps are:
· stimulating market demand;
· improving product quality, while reducing costs;
· gaining increased access to capital for growth; and
· creating a support infrastructure.
QuestAir is a private company, based in Burnaby, British Columbia, that is focused on becoming the world’s leading developer and supplier of compact pressure-swing adsorption gas purification technology. Its proprietary gas purification technology is being applied to several existing and emerging world markets, including industrial hydrogen production, as well as stationary and automotive fuel cells. In all applications, QuestAir technology allows customers to substantially reduce the cost and size of their products, while increasing the efficiency of their processes.
QuestAir’s proven technical accomplishments and management team have attracted long-term financial commitment from world-class strategic partners (Ballard Power Systems, Shell and the BOC Group) and several venture capital investors knowledgeable in fuel cells investment. With this investment, QuestAir Technologies Inc. expects to create or maintain 248 jobs and generate third-party investment of $22.4 million.
For further information: please contact: Selena Beattie, Office of Allan Rock, Minister of Industry, (613) 995-9001; Media Relations, Industry Canada, (613) 943-2502; Alexandra Muir, Office of Herb Dhaliwal, Minister of Natural Resources, (613) 947-8246