Quadrise Fuels International PLC Feasibility Study Contract (9876I)
December 14 2015 - 9:23AM
UK Regulatory
TIDMQFI
RNS Number : 9876I
Quadrise Fuels International PLC
14 December 2015
14 December 2015
Quadrise Fuels International plc
("QFI", "Quadrise" or the "Company")
Feasibility Study Contract
Quadrise, the emerging supplier of MSAR, a low cost alternative
to heavy fuel oil in the shipping, oil refining and power
generation markets, is pleased to announce the signing of a first
Feasibility Study Contract with a major global corporation that
provides technology, consulting, design and construction services
to the oil and gas sector.
The client aforementioned is developing research into
proprietary upgrading technologies for the upstream oil sector
jointly with a reputable national oil and gas corporation.
A feasibility study contract has been agreed for Quadrise
International Limited (QIL) to conduct testing of extra-heavy
hydrocarbon residues, at pilot scale, within the Quadrise Research
Facility with a defined timetable during the first half of 2016.
The value of this contract is expected to be up to GBP100,000 and
is payable entirely by the client.
The scope of the study is to establish the feasibility of using
MSAR(R) technology with this proprietary grade of oil residue for
the manufacture of stable economic emulsion fuel, with potential
applications at the oil-field for steam-raising and power
production.
Commenting on these developments, Ian Williams, Executive
Chairman of QFI, said:
"As previously advised, the Company is continually evaluating
selective opportunities for MSAR(R) to be applied in new technology
applications. This novel upstream opportunity for MSAR(R) based
steam production or power generation provides another example of
where global corporations value the unique expertise of the
Quadrise team."
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Ian Williams, Executive Chairman 7321
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance
Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Alastair Rae
Public & Investor Relations
Bell Pottinger
+44 (0)20 7861
Rollo Crichton-Stuart 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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