BioQuest to Acquire Hydrogen Production Specialist Progressus Clean Technologies.

MANews-(C)2009-2022

California-based BioQuest Corp. (OTC: BQST) has executed a letter of intent to acquire all of the issued and outstanding shares of US-based green technology company Progressus Clean Technologies Inc., incorporated in Delaware, the company said.

PowerTap Hydrogen Capital Corp. is a 49% owner of Progressus.

Terms of the transaction were not disclosed.

The LOI sets forth certain understandings between BioQuest, a Nevada corporation and Progressus, a Delaware corporation.

BioQuest will acquire all of the issued and outstanding shares of Progressus and in exchange, the Progressus shareholders shall receive shares of BioQuest.

Progressus is focussed on the development of novel hydrogen generation and separation technologies.

Progressus owns the exclusive rights and intellectual property pertaining to the Advanced Electrolyzer System for the...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT