QFI.L Regulatory News (QFI)

16 July 2021

Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")

Directorate Change

Quadrise, the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, announces that Mark Whittle, Chief Operating Officer, has resigned from the Board with immediate effect. Mr Whittle has agreed to continue working with the Company to ensure a managed handover, his contractual termination date is 15 October 2021 unless otherwise mutually agreed.

Mike Kirk, Executive Chairman, and Jason Miles, Chief Executive Officer, will continue to lead the management of the Company. The Company considers that its existing resourcing will enable the Group to continue to advance its portfolio of project opportunities in line with their current schedules in the short term. It will, however, commence the search for a replacement imminently.

Further announcements will be made, as appropriate.

Mike Kirk, Chairman of Quadrise, said:

"We thank Mark for the key role he has played in the development of Quadrise and wish him well in his new role. Jason and I will continue to lead the business to ensure that we deliver the projects as planned. We do not expect any changes to our project timetables as a result of Mark's departure."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

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