2 March 2017
Quadrise Fuels International plc
("Quadrise", "QFI'' or the "Company")
Marine Operational Trial
Quadrise Fuels International plc (AIM: QFI), the emerging supplier of MSAR® emulsion technology and fuel, enabling a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tonnes per annum) in the global shipping, refining and power generation markets, announces that the Company has been informed by Maersk Line that the vessel on which the MSAR® letter of no objection ("LONO") and operational trial is being conducted will be making an unscheduled dry dock visit. The vessel's visit to the dry dock is unrelated to the MSAR® LONO and operational trial, though it may impact the overall trial schedule. At this stage, details of the timetable for the dry dock stay and for the vessel returning to service are not definitive and a further update will be provided, as appropriate, in due course.
For additional information, please contact:
Quadrise Fuels International plc +44 (0)20 7031 7321
Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000
Dr Azhic Basirov
Peel Hunt LLP +44 (0)20 7418 8900
FTI Consulting +44 (0)20 3727 1000
Notes to Editors
QFI has developed MSAR® as a less expensive, cleaner synthetic HFO. Produced using QFI's proprietary technologies and services, MSAR® offers both producers and consumers of the fuel significant economic and environmental advantages. MSAR®, an oil in water emulsion, is made by mixing the residue stream from an oil refinery with water and specialised chemicals in a proprietary production process, instead of diluting the residuals with high value distillate products as in the production of HFO.
QFI acts as the technology and service partner to both the producer and the consumer and aims to create value both through licence revenues from the production of fuel and the sale of the chemicals and MSAR® manufacturing systems. The core technology has been developed jointly with AkzoNobel - one of the world's leading surface chemistry companies.
The two largest markets for the use of MSAR® as a low cost, efficient and environmentally friendly synthetic HFO are marine bunkering and power generation. Significant work has been carried out to demonstrate the proof of concept in both end-user markets and current work is focused on commercial scale trials the successful conclusion of which will be a significant milestone towards QFI developing sustainable commercial revenues.