Questor Technology Reports Progress on Execution of Phase III Shareholder Value Creation Plan
- Over 100 clean combustion units strategically positioned in the United States, Canada and Mexico, and 50 Q5000 units designated for rental and 11 Q5000 units being prepared for international sale.
- Canada: Short-term Q500 rental with option to purchase signed in Alberta; firm proposal pending in Western Canada
- Africa: A further award anticipated this month in East Africa.
- Mexico: Non-binding letter of intent with JHJ Servicios to form a consortium to pursue a Pemex enterprise-wide multiple-use contract; Rogelio Garcia appointed Strategic Advisor in Mexico.
- United States: Colorado DJ Basin assessment complete; proposed Emission Rx acquisition expected to give Questor an offering across every segment of the Colorado and North Dakota markets.
CALGARY, Alberta, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Questor Technology Inc. (“Questor” or the “Company”) (TSX-V: QST) today reported significant progress in the continued execution of its Phase III shareholder value creation plan, announced on August 17, 2026, as part of the Company’s strategy refresh in connection with the management team transition initiated in Q2 2026. The Company 's rental fleet is ready for deployment, commercial activity is advancing across North America, Africa and the Middle East, and a strategic partnership in Mexico is opening the path to a Pemex enterprise-wide contract.
Fleet Strategically Positioned for Deployment
Questor owns 109 clean combustion units – 94 in the United States, 9 in Canada and 6 in Mexico. Following a unit-by-unit review, 50 Q5000 units are designated for rental service, and 11 are being prepared to standard international specifications to ensure international orders can be delivered on time and on budget.
The fleet sits where the customers are. The fleet configuration enables Questor to fulfill rental contracts in Mexico, Canada and the United States without moving equipment across the Canada-United States border, while units designated for international sale are shipped from North Dakota and Alberta. The Company does not expect tariffs between Canada and the United States to materially impact its rental business.
Commercial Activity Accelerating
Near-term opportunities include:
- In Nigeria, discussions are advancing for additional Q5000 units following the successful commissioning of a unit in Q2 2026, with regulatory certification anticipated soon.
- In East Africa, Questor has submitted a firm proposal for a Q5000 unit; a letter of award is under discussion with an established international oilfield services client.
- In Western Canada, a firm proposal has been submitted for the sale of a Q5000 unit to an industrial customer for late 2026 delivery. Additionally, a short-term Q500 rental with an option to purchase has been signed in Alberta.
Except for the signed rental in Alberta, these opportunities are not binding. Consistent with the Company’s Phase III plan, revenue targets are not contingent on any single opportunity.
Longer-term,the Company is also actively pursuing:
- A proposal for a 90-foot Q5000 unit for the second phase of a Western Canadian midstream gas processing project, with a decision expected in Q4 2026;
- Proposals for three Q5000 units across two projects in Africa with an existing customer, with front-end engineering expected in the first quarter of 2027;
- Participation in pre-front-end engineering and design for a heat recovery project in Iraq; and
- A two-unit proposal in Kurdistan, subject to customer capital allocation and regional conditions.
Regulatory approval in Nigeria for the expanded use of Questor solutions is anticipated before year-end, which would position Questor for additional orders in the region in 2027 and beyond.
Mexico: Consortium with JHJ Servicios and Strategic Advisor Appointment
Six units are in Mexico, positioned for deployment pending service orders through third parties, which are being expedited. While, to date, revenue generation in Mexico has been slower than anticipated, two developments – the consortium with JHJ Servicios and the appointment of Rogelio Garcia as Strategic Advisor – are advancing the Company toward contracted revenue in Mexico.
Development 1: Consortium with JHJ Servicios. Questor and its in-country partner JHJ Servicios, have entered into a non-binding letter of intent to form an unincorporated consortium. The consortium will pursue an enterprise-wide, multiple-use contract with Pemex to support its flare elimination program. This structure would enable site-specific service orders across Pemex’s exploration and production business units.
The partnership combines Questor 's emissions-reduction technology and in-country equipment with JHJ Servicios ' in-country commercial access, regulatory familiarity, direct Pemex operational experience, vendor standing and stakeholder relationships.
The next step is a consortium agreement, which would qualify the partnership for contract awards across Pemex’s business units and provide a scalable, recurring-revenue model in one of the Western Hemisphere’s largest flaring markets, and a template for other Latin American markets. Mexico’s announced plan to develop unconventional natural gas resources from 2027 would, if implemented, further expand the addressable market.
Development 2: Strategic Advisor Appointment.Questor has appointed Rogelio Garcia as Strategic Advisor, Mexico. Mr. Garcia will provide commercial guidance and in-country support as Questor advances the consortium negotiations, structures its Mexico operations, and navigates the financial and regulatory aspects of contracting with Pemex. Mr. Garcia previously served in a senior finance role at Alfa Corporativo, one of Mexico’s largest industrial conglomerates.
“Questor’s high-efficiency incinerator technology is well-aligned with Pemex’s 2025-2035 strategic plan,” said Rogelio Garcia, Strategic Advisor, Mexico. “The opportunity is real, and the timing is right. I look forward to helping Questor build a sustainable, long-term business in Mexico.”
United States: Colorado, North Dakota and Emission Rx
Questor has completed a field assessment of the Colorado DJ Basin, centred on Weld County, where multi-well pads and continuous drilling and completion programs drive demand for high-capacity combustion equipment. Near-term pursuits include a defined multi-well pad in Q4 [of 2026] and a winter rental program. Questor’s trailer-mounted units are deployed without a crane, cutting time on- and off-site compared to crane-dependent equipment. The existing Q5000 units owned by operators in the basin present refurbishment and service opportunities.
The basin has three segments: high-volume drilling and completions (primary Q-Series offering); plugging, abandonment and emissions-reduction work; and low-pressure tank vapour at permanent facilities. The second and third segments favour low-cost, portable equipment on utilization-based models – segments served by Emission Rx Ltd. (“Emission Rx”). Subject to finalizing and closing of the proposed acquisition subject to the non-binding letter of intent announced on August 20, 2026 (targeted on or before October 1, 2026), Emission Rx’s installed base of more than 800 units, five product lines and field service capabilities would enable Questor to provide a comprehensive offering across all three segments in Colorado and in North Dakota, where the Company has its largest concentration of units. As previously disclosed, the Emission Rx letter of intent terminates automatically if a majority of the current directors are not re-elected at the September 9, 2026 Annual General Meeting of the Company (the “Annual General Meeting”).
“Fifty units are designated for rental and eleven are being prepared for international sale, so we deliver on time and on budget when orders arrive,” said Mike Lindsay, Interim President and Chief Executive Officer of Questor. “The fleet is already where the demand is. In Mexico, the proposed consortium with JHJ Servicios puts units we already own on the path to a Pemex enterprise-wide contract. With Emission Rx, we would cover every segment of the combustion market in Colorado and North Dakota, not only the high-capacity end.”
Update on Elevated Legal and Professional Fees
Legal and other professional fees related to the management team transition and elated strategy refresh, defense of the legal proceedings initiated by the former President and Chief Executive Officer against the Company, its independent directors and Chief Financial Officer, and in respect of the contested election of directors at the upcoming Annual General Meeting, remain elevated in Q3 to date and are expected to remain so through the Annual General Meeting.
Investor Relations Contact:
Aly Sumar
Chief Financial Officer
Phone: 403-571-1530
Email: investor@questortech.com
About Questor Technology Inc.
Questor Technology Inc., incorporated in Canada under the Business Corporations Act (Alberta) is an environmental emissions reduction technology company founded in 1994, with global operations. The Company is focused on clean air technologies that safely and cost effectively improve air quality, support energy efficiency and greenhouse gas emission reductions. The Company designs, manufactures and services high efficiency clean combustion systems that destroy harmful pollutants, including Methane, Hydrogen Sulfide gas, Volatile Organic Hydrocarbons, Hazardous Air Pollutants and BTEX (Benzene, Toluene, Ethylbenzene and Xylene) gases within waste gas streams at 99.99 percent efficiency per its ISO 14034 Certification.
The Company also has proprietary heat to power generation technology and is currently targeting new markets including landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat in addition to a wide variety of oil and gas projects. The combination of Questor’s clean combustion and power generation technologies can help clients achieve net zero emission targets for minimal cost.
The Company’s common shares are traded on the TSX Venture Exchange under the symbol “QST”.
Forward-Looking Statements
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “will”, “plan”, “expect”, “anticipate”, “continue”, “proposed”, “target”, “would”, “could”, “next step”, “pursuit”, “opportunities” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. This news release contains forward-looking statements with respect to, among other things: the Company’s intentions for its clean combustion unit fleet, including international sales and its rental business, the anticipated benefits therefrom, timing thereof and the expectation that Canada-United States tariffs will not have a material impact on such rental business; the Company’s potential business pursuits, including in North America, Mexico, Africa, Iraq and Kurdistan, the projected benefits therefrom and anticipated timing thereof; the anticipated next steps in connection with the Company’s non-binding letter of intent with JHJ Servicios, the benefits therefrom and the timing thereof; and the Company’s expected actions in connection with the proposed Emission Rx acquisition, the anticipated benefits therefrom and timing thereof. 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, the Company’s ability to capitalize on its refocused strategy and new targeted markets, changes in market, competition, tariffs, governmental or regulatory developments, general economic conditions, the status of litigation 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.
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