19 Sep 2008 07:00
Quadrise Fuels International plc ("QFI" or "the Company")
(AIM: QFI)
Director Appointment
The Board of QFI is pleased to announce the appointment of Dr Ian Duckels as a Non-Executive Director with immediate effect.
Michael Ian Duckels (age 61) has degrees in Chemistry, Chemicals Physics and Computer Science and is also a qualified accountant. He has extensive experience in the oil and energy sectors in progressively more senior roles spanning refining technology and plant management to global strategic planning and international mergers and acquisitions.
During the mid 1980's, Dr Duckels managed the BP Corporate Planning activity associated with determining the financial implications of the BP group global corporate strategy and was subsequently appointed Area Oil Coordinator - USA for BP.He also has extensive experience of refinery management and joint ventures. His last post in BP was as Chairman of the BP Texaco Joint Venture Refinery in Rotterdam, at the time the largest refinery in Europe.
On leaving BP in 1995, Dr Duckels set up a specialist oil trading and refining training activity in association with the Petroleum Economist. His association with the Quadrise MSAR® technology dates from joining Quadrise Limited in 1998 and serving as a director of that company until it was acquired by QFI in 2006. He has since acted as a consultant to QFI.
Commenting on the appointment, Ian Williams, Chairman, stated: "We are delighted that Ian Duckels will be joining the QFI board. Ian brings extensive international experience in the energy and oil sectors to the board and will complement the present team. His expert background in our specialised field will further strengthen the board."
The following are Dr Duckels' current directorships and those held within the last five years:
| Current Directorships | Past Directorships |
| Denex Limited Ritoil Associates Limited XVS Limited Zero-M Limited Zero-M Vehicle Systems Limited ZPF Limited | Bridge Farm Hatcheries Limited Partners in Trout Limited Quadrise Limited |
Dr Duckels holds 4,029,052 ordinary shares in the Company. This represents 0.87% of the issued shares in the Company.
Dr Duckels was a director of Bridge Farm Hatcheries Limited, a family owned business, and Partners in Trout Limited, a company in which Bridge Farm Hatcheries Limited was a 50 per cent. shareholder and which had one other shareholder. Both companies were engaged in trout farming activities and were voluntarily wound-up in 2005 with no outstanding creditors.
There is nothing further to disclose in relation to Ian Duckels' appointment pursuant to Rule 17 of the AIM Rules for Companies.
For further information, please contact:
| Quadrise Fuels International plc Ian Williams Chairman T: +44 (0)20 7550 4930 |
| Smith & Williamson Corporate Finance Limited Azhic Basirov / Siobhan Sergeant +44 (0)20 7131 4000 Capital MS&L Penny Freer James Madsen +44 (0) 20 7307 5330 |
Notes to editors:
Quadrise Fuels International plc ("Quadrise") has rights to produce an emulsion fuel as a low cost substitute for conventional heavy fuel oil ("HFO") for use in power generation plants and industrial diesel engines. It recently successfully completed the manufacture and burn of a 20,000 tonne batch of MSAR® in Lithuania.
The manufacturing process of these fuels uses the least valuable elements of the oil barrel, thus providing a very cost effective product whilst simultaneously facilitating a means to market for the least desirable heavy crudes and refinery derived residues.
The emulsion fuel product, termed MSAR® (Multiphase Superfine Atomised Residue), has superior combustion characteristics to conventional heavy fuel oil, achieving complete carbon burn-out and producing lower NOx emissions.
Oil refiners applying the technology enjoy enhanced value realisation for their least valuable residues and the potential to avoid very heavy capital expenditure on heavy oil upgrading facilities.