Quadrise Fuels International PLC Wärtsilä Testing Update (7432R)

TIDMQFI

RNS Number : 7432R

Quadrise Fuels International PLC

03 March 2023

3 March 2023

Quadrise Fuels International Plc

("Quadrise" or the "Company")

Wärtsilä Testing Update

Quadrise Fuels International Plc (AIM:QFI), the supplier of innovative energy solutions for a cleaner planet, provides the following update further to the Company's announcement of 16 January 2023, on the testing of its bioMSAR(TM) fuel carried out by Wärtsilä Services Switzerland ("Wärtsilä") in December 2022.

As part of Quadrise's ongoing Framework Agreement with MSC Shipmanagement, optical combustion and engine wear tests of bioMSAR(TM) were carried out as a necessary precursor to commercial-scale vessel trials.

The optical combustion test, against MSAR(R) and diesel fuels, has confirmed bioMSAR(TM) to have similar injection and combustion properties as MSAR(R) and that bioMSAR(TM) is therefore expected to behave similarly to MSAR(R) when utilised in medium and slow-speed diesel engines.

Extended wear tests over a 250 hour period were also completed successfully.

The Company is pleased to confirm that, as a result of these test results, bioMSAR(TM) can proceed to the next phase of assessment, with hazard identification and operability studies now scheduled ahead of commercial vessel testing on the MSC Leandra and further announcements will be made, as appropriate, in due course.

Jason Miles, Chief Executive of Quadrise, commented:

"The extensive tests undertaken by Wärtsilä clearly demonstrate the suitability of bioMSAR(TM) for use in both marine and power plant applications. This is an important step in clearing the fuel for commercial supply and we look forward to progressing our final round of tests ahead of planned vessel trials with MSC for both MSAR(R) and bioMSAR(TM) later this year."

For additional information, please contact:

 
Quadrise Fuels International Plc             [phone] 
Andy Morrison, Chairman 
 Jason Miles, Chief Executive Officer 
 
Nominated Adviser 
Cenkos Securities plc                        [phone] 
Ben Jeynes 
Katy Birkin 
 
Broker 
 Shore Capital Stockbrokers Limited          [phone] 
Toby Gibbs, Rachel Goldstein (Corporate 
 Advisory) 
Fiona Conroy (Corporate Broking) 
Public & Investor Relations 
Vigo Consulting 
 Patrick D'Ancona 
 Charlie Neish                               [phone] 
 

About Quadrise

Quadrise is the supplier of MSAR(R) and bioMSAR(TM) emulsion technology, fuels and biofuels, providing innovative solutions to reduce energy costs and greenhouse gas emissions today for clients in the global power generation, shipping, industrial and refining industries.

Learn more: www.quadrisefuels.com

Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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March 03, 2023 02:00 ET (07:00 GMT)