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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Quadrise Plc | LSE:QED | London | Ordinary Share | GB00B11DDB67 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 1.40 | 1.595 | 260,210 | 10:17:50 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -3.09M | -0.0021 | -7.14 | 22.42M |
TIDMQFI
RNS Number : 1262D
Quadrise Fuels International PLC
26 October 2020
26 October 2020
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
COMPLETION OF MOROCCAN PILOT PLANT TRIAL
AND
NEW INDUSTRIAL SCALE TRIAL AT ANOTHER OF THE CLIENT'S SITES IN MOROCCO
Quadrise is pleased to provide an update on the Material Transfer & Cooperation Agreement (the "Agreement") with an international chemicals and mining group headquartered in Morocco (the "Client") announced on 29 November 2019.
Following the relaxation of Covid-19 restrictions, Quadrise was able to gain access to the Client's facility in October 2020 and is pleased to confirm that the pilot plant trial has now been completed by the combined Quadrise and Client project team.
Quadrise and the Client are now working jointly on detailed plans for a larger, industrial-scale MSAR(R) trial at another Client site, which is planned for early Q1 2021, ahead of the commercial scale phase 2 trials.
This new industrial-scale MSAR(R) trial is intended to further demonstrate the wider potential of MSAR(R) at another site ahead of the commercial scale trials already being planned under phase 2 of the Agreement. The study work for the Phase 2 trials was brought forward earlier this year and is now well advanced; and, together, with the new industrial scale trial further minimises the risk of delay to the overall programme.
Further updates will be provided, as appropriate, in due course.
Mike Kirk, Chairman of QFI, said:
"The major industrial group in Morocco we are working with is a world leader in the sectors in which it operates and is a material consumer of fuel oil. As such, we are delighted to have been able to successfully deliver the MSAR(R) pilot plant trial under very challenging circumstances which is a testament to the strong rapport and relationships we have built with the Client.
"Feasibility studies are simultaneously being completed under phase 2 as previously reported, that together with the planned industrial scale trials announced today, will demonstrate the wider potential for MSAR(R) use at the client's sites and more widely in the industrial sector.
"We are therefore confident that during 2021 we will successfully validate the economic and environmental benefits of MSAR(R) at an industrial scale, complete the commercial scale trials on the Client's units and initiate commercial supply of MSAR(R) after concluding commercial supply agreements."
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 +44 (0) 20 7 397 Katy Birkin 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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October 26, 2020 03:00 ET (07:00 GMT)
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