Valkor update
16 September 2026
Quadrise Plc
("Quadrise" or the "Company")
Valkor update
Quadrise Plc (AIM:QED), the manufacturer of lower cost, lower emission, replacement fuels and biofuels for shipping and heavy industry, provides an update on its project with Valkor Technologies LLC ("Valkor") in Utah, USA.
Valkor has informed the Company that drilling has commenced at two new pilot wells, incorporating findings from a comprehensive Core Laboratories study that confirmed the technical viability of its modified enhanced oil recovery project at the Asphalt Ridge site.
An eight-well drilling programme is expected to commence later this year, targeting production of approximately 1,000 barrels per day ("bpd") in 2027. Site installation works for Valkor's 500 bpd oil sands pilot plant are also underway, with production expected to commence in Q1 2027.
Following the achievement of significant project milestones during Q3 2026, Valkor has advised the Company that it expects to pay the outstanding US$0.95 million balance of the site licence fee by the end of October 2026 upon receipt of project funding due next month.
The Company's 600 bpd Multifuel Manufacturing Unit ("MMU") and associated equipment will be shipped to Utah for mobilisation on site following receipt in full of the outstanding licence fee.
In addition, a heavy sweet oil sample from Valkor's new pilot plant has been shipped to the Quadrise Research Facility for MSAR® and bioMSAR™ formulation work scheduled for Q4 2026. Joint marketing of MSAR® and bioMSAR™ is also underway in Utah.
For further information please contact:
Quadrise Plc
+44 (0)20 7031 7321
Andy Morrison, Chairman
Peter Borup, Chief Executive Officer
Jason Miles, Chief Technology Officer
Nominated Adviser
Cavendish Capital Markets Limited
+44 (0)20 7220 0500
Ben Jeynes
George Lawson
Joint Brokers
Shore Capital Stockbrokers Limited
+44 (0)20 7408 4090
Toby Gibbs, Harry Davies-Ball (Corporate Advisory)
Fiona Conroy (Corporate Broking)
VSA Capital Limited
Andrew Raca (Corporate Finance)
Andrew Monk (Corporate Broking)
+44 (0)20 3005 5000
Public & Investor Relations
Tavistock Communications (Financial PR & IR)
Simon Hudson
Nick Elwes
Saskia Sizen
+44 (0) 20 7920 3150
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.
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 shipping, power generation, industrial and refining industries. Learn more at: www.quadrise.com
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