Questor Technology Reports Progress in Expanding Clean Combustion Unit Fleet

CALGARY, Alberta, Questor Technology Inc. has reported significant progress in executing its Phase III shareholder value creation plan, a strategic initiative launched in August 2026 following a management team transition. The company's efforts are now bearing fruit across North America, Africa, and Mexico, with a particular focus on expanding its clean combustion unit fleet and securing new contracts.

At present, Questor owns 109 clean combustion units, distributed across the United States, Canada, and Mexico. Of these, 50 units are designated for rental services, while 11 are being prepared for international sale, ensuring the company can meet demand without the need for cross-border equipment movement. The fleet's strategic positioning allows for rapid deployment and efficient service, minimizing the impact of potential tariffs between Canada and the United States on the rental business.

In the near term, Questor is actively pursuing several commercial opportunities. In Nigeria, discussions are ongoing for additional Q5000 units following the successful deployment of a unit in the second quarter of 2026. A firm proposal has also been submitted for a Q5000 unit in East Africa, and a short-term Q500 rental agreement with an option to purchase has been signed in Alberta, Canada. These opportunities, though not binding, represent important steps in expanding the company's footprint in key markets.

Long-term, Questor is preparing for significant projects. The company has submitted a proposal for a 90-foot Q5000 unit for a midstream gas processing project in Western Canada, with an expected decision in the fourth quarter of 2026. Additionally, proposals for three Q5000 units across two projects in Africa, and a heat recovery project in Iraq, are under consideration. These initiatives, coupled with the proposed acquisition of Emission Rx Ltd., which would bring more than 800 units and five product lines into the company's portfolio, aim to cover the entire combustion market in Colorado and North Dakota.

In Mexico, Questor has entered into a non-binding letter of intent with JHJ Servicios to form a consortium to pursue an enterprise-wide, multiple-use contract with Petróleos Mexicanos (Pemex). This partnership, led by Rogelio Garcia, who has been appointed as Strategic Advisor in Mexico, seeks to leverage Questor's technology and JHJ Servicios' local expertise to secure a significant contract that could open the door to further opportunities in Latin America. The partnership aims to provide a scalable, recurring-revenue model, particularly in Mexico's flaring market, which is expected to grow with the development of unconventional natural gas resources.

Despite the current challenges, including slower-than-expected revenue generation in Mexico, these developments position Questor for substantial growth. The company continues to navigate legal and professional fee challenges, with costs expected to remain elevated through the upcoming Annual General Meeting.

Mike Lindsay, Interim President and CEO of Questor, stated, "Fifty units are designated for rental and eleven are being prepared for international sale, ensuring we can meet customer demands promptly. The fleet is already positioned where the demand is. In Mexico, the proposed consortium with JHJ Servicios and the Emission Rx acquisition will enable us to cover every segment of the combustion market, from high-capacity to low-cost, portable equipment."

The company's progress reflects a strategic shift towards a more comprehensive and diverse service offering, aiming to capitalize on global market opportunities while addressing regional needs.