Quadrise Fuels International PLC Update re Greenfield Commercial Trial Agreement (3468U)

TIDMQFI

RNS Number : 3468U

Quadrise Fuels International PLC

01 April 2021

1 April 2021

Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")

Update re Greenfield MSAR(R) Commercial Trial Agreement

Quadrise Fuels International, the supplier of MSAR(R) and bioMSAR(TM) emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, notes the announcement by TomCo Energy plc ("TomCo") today in relation to Greenfield Energy LLC ("Greenfield") and the Front End Engineering and Design ("FEED") study being carried out on the Petroteq Oils Sands Plant at Asphalt Ridge, Utah ("POSP"). The TomCo announcement explains in detail why commissioning and start-up of the POSP has been delayed during Q1'21, to enable the processing of ore from a potential site (the "Potential Site") which is being assessed and on which Greenfield's first 10,000 bopd plant may be built.

It is expected that the enhanced POSP will restart after Easter, and that oil samples extracted from ore of the Potential Site will then be taken, assayed, and then shipped in April to the UK, to enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility ("QRF") as planned. As previously noted, we anticipate being able to complete the MSAR(R) tests at QRF within three weeks of samples being received.

For further information, please refer to the Company's website at www.quadrisefuels.com , or contact [e-mail] or phone:

 
Quadrise Fuels International Plc 
Mike Kirk, Chairman                    [phone] 
Jason Miles, Chief Executive Officer 
 
Nominated Adviser 
Cenkos Securities plc 
Ben Jeynes 
 Katy Birkin                           [phone] 
 
Joint Brokers 
Peel Hunt LLP 
Richard Crichton                       [phone] 
David McKeown 
 
Shore Capital Stockbrokers Limited 
Toby Gibbs 
 Fiona Conroy                          [phone] 
 
  Public & Investor Relations 
FTI Consulting 
Ben Brewerton                          [phone] 
Ntobeko Chidavaenzi                    [e-mail] 
 

Notes to Editors

QFI is the supplier of MSAR(R) and bioMSAR(TM) emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, (one of the world's largest fuel markets) in the global power generation, shipping, industrial and refining industries.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDUPUMCCUPGGGG

(END) Dow Jones Newswires

April 01, 2021 07:50 ET (11:50 GMT)