QS Energy Inc (QSEP)

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While management focused on finding a partner and finalizing terms of the demonstration project, our engineering team worked throughout 2018 to improve our AOT design and prepare one of our inventoried AOT units for deployment.

All system upgrade, inspections and testing protocols were completed in December 2018, and the AOT unit is now ready for delivery to the demonstration site.

The pipeline operator finalized site selection and began site design and engineering in January 2019. We shipped the AOT equipment to the demonstration site in April 2019.

Based on the most recent project update provided by the pipeline operator, we anticipate installation to be completed in late May 2019 and anticipate demonstration operations to begin early June 2019.