Quantum Energy, Inc. Shareholder Update
TEMPE, AZ–(Marketwired – Dec 14, 2016) – Refinery and energy processing developer Quantum Energy, Inc. ( OTC PINK : QEGY ) issued the following shareholder update on recent corporate activities for the Dominion Energy Processing Group, Inc. (DEPGI) refinery development project in Stoughton, Saskatchewan:
“As the Stoughton Project moves toward realization, we want to acknowledge the tremendous support of all our stakeholders. We have received valuable input into the project design basis that enables us to utilize modern technologies to address regional supply shortfalls of critical petroleum products. We fully recognize the need to mitigate supply risks to the region and to be flexible enough to support niche products such as jet fuel,” said Keith Stemler, CEO of DEPGI.
As a result, key project design variables will also include the following:
- CO2 recapture to limit greenhouse emissions and to support long-term tertiary recovery for EOR within the Canadian Bakken/Torquay region.
- The development of an 85MW steam driven co-generation power plant that will not emit atmospheric CO2.
- Variable control system that will enable the plant to modulate between varieties of commodity products.
DEPGI is in the process of finalizing its feedstock agreement(s) and is actively in discussions for long-term product off-take. “Once we conclude our front and back end agreements, Quantum Energy, Inc. / DEPGI will seek to finalize its project equity and debt participation,” said Stan Wilson, Chairman and CEO of Quantum Energy, Inc.
For project specific inquiries, contact:
About Quantum Energy, Inc.
QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution primarily in the Bakken field www.quantum-e.com.
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To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.