BURNABY, BC, Aug. 19 /CNW/ - The board of directors of QuestAir
Technologies Inc. ("QuestAir" or "the Company"; AIM: QAR; TSX: QAR) (the
"Board") is pleased to announce the appointment of Andrew Graham Hall as
President and Chief Executive Officer ("CEO") in succession to
Jonathan Wilkinson, with an effective date of September 1, 2008. At the same
time, Mr. Hall will also be appointed to the board of directors of QuestAir,
filling the vacancy created when Mr. Wilkinson steps down as President, CEO
The Board would like to express its gratitude to Mr. Wilkinson for his
service to the Company over the last nine years, six as CEO. He successfully
led QuestAir from its private research and development origins into the public
markets, through the establishment of major customer relationships and the
commercialization of its leading pressure swing adsorption ("PSA")
technologies. Mr. Wilkinson will remain available during the month of
September, 2008 to facilitate a smooth transition.
"Having successfully implemented organizational changes to reduce
operating expenses, strengthened QuestAir's balance sheet through the most
recent equity offering, and entered into a new, multi-year engineering service
contract with ExxonMobil Research & Engineering, the board and Jonathan agreed
that this would be an appropriate time to transition the leadership of the
Company," said Denis Connor, QuestAir's Chairman of the Board. "The Company is
now in the position to build on these successes and transition to a
commercially sustainable enterprise."
Mr. Hall (36) has been with QuestAir for over seven years and has held
numerous management positions, most recently as Vice President, Sales and
Business Development. In this role, Mr. Hall had responsibility for the
Company's principal customers, the commercialization of its products and the
development of new markets, particularly in the growing biogas sector. In
previous roles, Mr. Hall has been responsible for corporate strategy,
corporate development and investor relation activities. Mr. Hall holds a
Chemical Engineering degree from the University of Cape Town, a MASc degree in
Chemical Engineering from the University of British Columbia, and an MBA
degree from the London Business School.
"Andrew brings a fresh perspective and new energy to the role of CEO at
QuestAir and the Board is confident that he can drive the Company to
profitability," said Denis Connor, Chairman of QuestAir. "Andrew's
understanding of the Company's key markets, customers and partners, will
enable him to hit the ground running and develop the strategies necessary to
achieve commercial growth in the refinery and biogas markets."
Andrew Hall commented: "I am privileged and excited by the opportunity to
lead QuestAir. The growth drivers in the biogas and refinery markets remain
very strong, and we have an excellent and committed team to execute in these
markets. The core components of our strategy remain in place, with an added
emphasis on increasing our sales and customer focus, building and improving
our execution capability, and developing new growth opportunities."
Commenting on the transition, Jonathan Wilkinson said, "I am very pleased
that Andrew Hall, with whom I have worked on the development of QuestAir for
some years, will succeed me in leading the Company into its next phase of
There are no further disclosures required pursuant to Schedule 2(g) of
the AIM Rules for Companies.
About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer and supplier of proprietary
gas purification systems for several large international markets, including
existing markets such as oil refining, biogas production and natural gas
processing, and emerging markets such as fuel cell power plants and fuel cell
vehicle refueling stations. QuestAir is based in Burnaby, British Columbia and
its shares trade on the AIM Market of the London Stock Exchange Plc. and on
the Toronto Stock Exchange under the symbol "QAR".
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the
Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. When used in this press release, such statements
use such words as "anticipate", "believe", "plan", "estimate", "expect",
"intend", "may", "will" and other similar terminology. These statements
reflect current expectations regarding future events and operating performance
and speak only as of the date of this press release. Forward-looking
statements involve significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not necessarily be
accurate indications of whether or not such results will be achieved. A number
of factors could cause actual results to differ materially from the results
discussed in the forward-looking statements.
For further information:
For further information: QuestAir Technologies Inc., Andrew Hall, Phone:
(001) 604-453-6967, Email: firstname.lastname@example.org, Web: www.questairinc.com; Or:
Sherry Tryssenaar, Phone: (001) 604-453-6902, Email:
email@example.com; UK media contact: Charles Ryland, Ben Willey,
Buchanan Communications, Phone: +44 (0) 20-7466-5000; Canadian media contact:
Stephen Burega, Karyo Communications, Phone: (001) 604-623-3007; Canaccord
Adams: Robert Finlay, Phone: +44 (0) 207-050-6500