14 December 2015
Quadrise Fuels International plc
("QFI", "Quadrise" or the "Company")
Feasibility Study Contract
Quadrise, the emerging supplier of MSAR, a low cost alternative to heavy fuel oil in the shipping, oil refining and power generation markets, is pleased to announce the signing of a first Feasibility Study Contract with a major global corporation that provides technology, consulting, design and construction services to the oil and gas sector.
The client aforementioned is developing research into proprietary upgrading technologies for the upstream oil sector jointly with a reputable national oil and gas corporation.
A feasibility study contract has been agreed for Quadrise International Limited (QIL) to conduct testing of extra-heavy hydrocarbon residues, at pilot scale, within the Quadrise Research Facility with a defined timetable during the first half of 2016. The value of this contract is expected to be up to £100,000 and is payable entirely by the client.
The scope of the study is to establish the feasibility of using MSAR® technology with this proprietary grade of oil residue for the manufacture of stable economic emulsion fuel, with potential applications at the oil-field for steam-raising and power production.
Commenting on these developments, Ian Williams, Executive Chairman of QFI, said:
"As previously advised, the Company is continually evaluating selective opportunities for MSAR® to be applied in new technology applications. This novel upstream opportunity for MSAR® based steam production or power generation provides another example of where global corporations value the unique expertise of the Quadrise team."
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc |
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Ian Williams, Executive Chairman |
+44 (0)20 7031 7321 |
Hemant Thanawala, Finance Director |
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Jason Miles, Chief Operating Officer |
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Nominated Adviser |
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Smith & Williamson Corporate Finance Limited |
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Dr Azhic Basirov |
+44 (0)20 7131 4000 |
Ben Jeynes |
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Broker |
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Peel Hunt LLP |
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Richard Crichton |
+44 (0)20 7418 8900 |
Ross Allister |
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Alastair Rae |
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Public & Investor Relations |
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Bell Pottinger |
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Rollo Crichton-Stuart
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+44 (0)20 7861 3232 |
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