REG - Quadrise PLC - Morocco Update

QuadriseAnnouncement

18/08/2023 16:00

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RNS Number : 8252J  Quadrise PLC  18 August 2023

18 August 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 following the
announcement on 22 June 2023.

The Quadrise team returned to site at the client's request to recommence the
trial early last week.

Combustion at 100% unit load was achieved, but unfortunately it was not
possible to complete the test at full load due to a progressive decline in
fuel pump performance. The pump was replaced with an identical spare unit this
week, but similar performance issues were experienced at full load, indicating
a design issue with the pump units at high pressure.

A replacement pump of alternative design is being expedited to Morocco for
installation later this month. The trial is now expected to be completed in
early September, and the client remains supportive of the Company's efforts to
resolve this issue and progress the project at the next available
opportunity.

Jason Miles, CEO of Quadrise commented:

"The design issues experienced with the pumps to date were not foreseeable and
are very frustrating for all concerned. We remain highly confident that once
the trial resumes following the installation of an alternative pump, we will
be able to demonstrate the benefits of MSAR® and bioMSAR™ in the commercial
trial for our supportive client."

For additional information, please contact:

 

 Quadrise 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

 Finlay Thomson

 

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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