Questerre Energy Corp and ZEG Power AS have signed an LOI to evaluate their proprietary blue hydrogen technology for the Questerre's Clean Tech Energy project in Quebec.

Pursuant to the LOI, the companies will explore joint venture opportunities to apply the ZEG Power technology to produce clean hydrogen and/or clean power from Questerre’s Clean Gas project. This will include the engineering and economic due diligence for a demonstration plant concept and subsequent scale up to larger commercial plants. Subject to requisite corporate approvals, Questerre will have an exclusive right to the ZEG Power technology in Canada for a period of one year from the completion of the engineering with a right of first refusal in Canada thereafter.

"We believe hydrogen will become a cornerstone of the emerging circular economy," said Michael Binnion, President and CEO of Questerre. "As we move from near zero emissions responsible production of natural gas to the idea of zero emissions consumption, the technologies to capture the carbon emissions are essential. ZEG Power has designed a one step process that produces hydrogen and captures the CO2 with improved economics. We are studying how to incorporate it into our project in Quebec."

Binnion added that Questerre's goal is a "material net negative" carbon project. The ZEG Power process produces zero emissions hydrogen and a pure stream of carbon dioxide that can be recycled to make other low emissions products including concrete, plastics, fertilizer, and other industrial feedstocks. Any excess emissions can be permanently stored.