REG - Quadrise PLC - Morocco Update

QuadriseAnnouncement

22/05/2023 07:00

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RNS Number : 1668A  Quadrise PLC  22 May 2023

22 May 2023

Quadrise Plc
("Quadrise" or the "Company")

Morocco Update

Quadrise Plc (AIM:QED), the supplier of innovative energy solutions for a
cleaner planet, provides an update on its fuel trial in Morocco.

The industrial demonstration test commenced as planned this week in accordance
with the client's production schedule. Quadrise personnel at the client site
confirmed the MSAR® and bioMSAR™ fuel quality and fully commissioned the
Company's pumping and heating unit ("PHU") at load.

Cold start-up of the client's combustion unit was carried out and the initial
unit warm-up sequence was tested using MSAR® fuel. Unfortunately, whilst
running at 100% a mechanical component in the PHU failed progressively,
reducing the available unit load achievable from the Quadrise burner, and we
were unable to complete the testing during May as originally planned. The
parties agreed to pause the trial so that the client could complete their
scheduled production run, and the respective Quadrise part could be replaced.

The replacement mechanical item concerned has been procured in the UK by
Quadrise and will be sent to the client in Morocco as soon as possible. This
will enable Quadrise to finalise optimisation of combustion at full load when
the trial resumes.

Commenting on the update, Jason Miles, Chief Executive Officer of Quadrise,
said:

 

"We are obviously disappointed not to have completed the trial during May due
to an unexpected mechanical issue in our PHU.  However, a replacement part
has been purchased and expedited so that we can restart the operational
production test at the next opportunity.

On behalf of the Quadrise team on site, we would like to thank our client in
Morocco for their valuable and collaborative support during testing to date,
and we look forward to returning and completing the test fully during the next
production run with their team."

 

For additional information, please contact:

 

 Quadrise Fuels International Plc                         +44 (0)20 7031 7321
 Andy Morrison, Chairman

 Jason Miles, Chief Executive Officer

 Nominated Adviser
 Cenkos Securities plc                                    +44 (0)20 7397 8900
 Ben Jeynes
 Katy Birkin
 Joint Brokers

 Shore Capital Stockbrokers Limited

                                                          +44 (0)20 7408 4090
 Toby Gibbs, Rachel Goldstein (Corporate Advisory)
 Fiona Conroy (Corporate Broking)
 ( )                                                ( )   ( )
 VSA Capital Limited                                      +44 (0)20 3005 5000

 Andrew Raca (Corporate Finance)

 Andrew Monk (Corporate broking)

 Public & Investor Relations
 Vigo Consulting                                          +44 (0)20 7390 0230

 Patrick D'Ancona

 Charlie Neish

 

About Quadrise

Quadrise is the supplier of MSAR® and bioMSAR™ 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 at: www.quadrise.com (http://www.quadrise.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

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