17 Mar 2016 13:11
17 March 2016
Quadrise Fuels International plc("Quadrise", "QFI'' or the "Company")
Marine Programme Update
Quadrise Fuels International plc (AIM: QFI) is the emerging manufacturer and supplier of MSAR emulsion fuels, a low cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tons per annum) in the global shipping, refining and steam and power generation industries.
Further to the Company's announcement of 16 September 2015, Quadrise is pleased to provide an update regarding its Marine Programme.
With respect to the contracts executed with Maersk Line A/S and Compania Espanola de Petroleos S.A.U. ("Cepsa") for the Operational Trial Programme, Quadrise has now commenced the shipment of equipment to Cepsa's Refinery Gibraltar San Roque and has started civil works that are required for the installation of a Quadrise MSAR Manufacturing Unit ("MMU") and associated systems at the designated Marine MSAR production facility within the refinery.
These activities are an integral part of the overall project designed to meet the requirements of the joint Operational Trial Programme, with installation and commissioning of the MMU planned for 1H 2016, as previously communicated.
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc | |
Ian Williams, Executive Chairman | +44 (0)20 7031 7321 |
Hemant Thanawala, Finance Director | |
Jason Miles, Chief Operating Officer
| |
Nominated Adviser | |
Smith & Williamson Corporate Finance Limited | |
Dr Azhic Basirov | +44 (0)20 7131 4000 |
Ben Jeynes | |
Broker | |
Peel Hunt LLP | |
Richard Crichton | +44 (0)20 7418 8900 |
Ross Allister | |
Alastair Rae |
Public & Investor Relations | |
Bell Pottinger | |
Rollo Crichton-Stuart | +44 (0)20 3772 2569 |
Greg Wood |