Quadrise Fuels International PLC Utah Project Update (7355M)
23 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMQFI
RNS Number : 7355M
Quadrise Fuels International PLC
23 September 2021
23 September 2021
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its
subsidiaries the "Group")
Utah Project Update
Quadrise, the supplier of MSAR(R) and bioMSAR(TM) emulsion
technology and fuels, the low-cost, cleaner alternatives to heavy
fuel oil and biofuels, is pleased to provide an update on the
testing of a produced oil sample taken from the Petroteq Oil Sands
Plant ("POSP") from the Greenfield Energy LLC's ("Greenfield") Utah
operations team.
An extensive programme of testing on the Greenfield oil sample
was completed at the Quadrise Research Facility ("QRF") in Essex on
schedule.
The testing programme at QRF has confirmed the ability to
produce commercial MSAR(R) and bioMSAR(TM) fuels from the sample of
heavy sweet oil provided and a report of the testing results has
now been issued to the client. Simulations of storage and handling
of both MSAR(R) and bioMSAR(TM) produced were also completed during
the programme which indicate that commercial production of MSAR(R)
and bioMSAR(TM) fuels would be possible in Utah for potential power
and marine end-user applications domestically and
internationally.
This testing programme concludes the Proof-of-Concept work that
was scheduled in Phase 1 of the Commercial Trial Agreement
announced on 18 August 2020 and Quadrise and Greenfield are now in
discussions regarding potential future trials and deployment of the
technology to produce MSAR(R) and/or bioMSAR(TM) fuel at commercial
scale.
Further announcements will be made, as appropriate, in due
course.
Jason Miles, CEO of Quadrise, said:
"We are pleased to have completed the testing and analysis work
during August as scheduled and to be reporting the positive results
to Greenfield. We look forward to updating Quadrise shareholders in
due course as to the next steps for this exciting low-sulphur
MSAR(R) and bioMSAR(TM) opportunity in Utah, once agreed with
Greenfield and their strategic partners."
For further information, please contact:
Quadrise Fuels International Plc
Mike Kirk, Chairman +44 (0)20 7031 7321
Jason Miles, Chief Executive Officer ir@quadrisefuels.com
Nominated Adviser
Cenkos Securities plc
Ben Jeynes
Katy Birkin +44 (0)20 7397 8900
Joint Brokers
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
David McKeown
Shore Capital Stockbrokers Limited
Toby Gibbs
Fiona Conroy +44 (0)20 7408 4090
Public & Investor Relations
FTI Consulting
Ben Brewerton +44 (0)20 3727 1000
Ntobeko Chidavaenzi
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END
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