Questor receives $4.5MM investment from SDTC to advance its Waste Heat-to-Power Technology
Calgary, Alberta (August 11th, 2021) – Questor Technology Inc. (“Questor” or the “Company”), (TSX Venture Exchange: QST) is pleased to announce that we have received $4.5 million of funding from Sustainable Development Technology Canada (SDTC) to support and expedite the development of the Company’s CPS 50-1500 kW modular, reliable, high efficiency waste Heat-to-Power generation systems. This project furthers the company’s overall global strategy to provide clean, practical, cost-effective solutions to reduce greenhouse gas emissions (GHG) supporting our clients ESG goals and their quest to net zero.
“With rising global GHG emissions, Questor’s game-changing waste heat to power genergation technology is at the forefront of reducing emissions in a clean, cost-effective and sustainable way,” said Leah Lawrence, President and CEO, Sustainable Development Technology Canada. “We are proud to support Questor, among other Canadian climate tech entrepreneurs to grow and strengthen Canada’s green economy.”
“We are thrilled by the recognition and support that we are receiving from SDTC for the development of our technology. We firmly believe that our innovative high efficiency Turboexpander and the latest developments in coupling and thermal recovery, is expected to increase the thermal efficiency from an industry standard of 16% up to 20%, by not only increasing the adiabatic efficiency of the turbine itself from 84% to near 96%, but by also using the latest magnetic couplings, unique bearing design, solid state electronics and high-speed permanent magnet motors. Generating power from low grade waste heat and improving energy efficiency is a very effective, low-cost way to reduce GHG emissions. Additionally, power from waste to heat has zero emissions, a small footprint, is reliable 24/7, and the battery is very simple; a hot water/glycol tank. Recoverable waste heat in the United States is estimated at 14,594 MW in the manufacturing sector alone with over 63% in the 232 to 650°C range. This technology development will facilitate diversification into a promising target market for Questor,” said Ms. Audrey Mascarenhas.
Methane, with a global warming potential 86 times higher than CO2 over a 20 year period, has recently become a global concern. Coupling the waste heat to power technology with Questor’s 99.99% efficient clean combustion technology as the heat source, significantly reduces greenhouse gas emissions with a 30% return on capital invested (ROI). The power generated from flared and vented gas can be used on site to displace diesel power generation or power from the grid, hence reducing operating costs. Alternatively it can be directed to the grid generating a revenue stream while reducing the site carbon equivalent emissions.
“We are grateful to be among some of the most talented innovators in the country funded by SDTC. The continued support from SDTC allows Canadian cleantech entrepreneurs to innovate and deliver solutions for a more sustainable future.” added Ms. Audrey Mascarenhas. “This funding comes at a critical time, as businesses adapt to meet the current economic realities. This commitment also forges a path for Canada’s economic future, enabling cleantech companies like ours to grow and scale to meet domestic and global demand for solutions in the Net Zero era.”
Questor Technology Inc.