8 Jun 2012 07:00
8 June 2012
Quadrise Fuels International Plc ("QFI" or "the Company")
Operational Update
Quadrise Fuels International plc (QFI) is the emerging manufacturer and supplier of MSAR emulsion fuels, a low cost alternative to heavy fuel oil in the global shipping, refining and steam power generation markets.
Marine MSAR® Programme
Shareholders were advised in March 2012 that the focus would move to sea borne assessment on a Mærsk container ship to provide the operating performance information required by all participants.
This was the first time that commercial oil-in-water emulsion fuel has been trialled in 2-stroke marine diesel applications of this scale. As advised in previous reports, major innovative fuels development programmes require sufficient time for analysis of data, correction of any deficiencies and exploitation of opportunities revealed by the results of 'in service' performance.
Many aspects of the sea borne assessment thus far have been successful, such as general handling of the product and bunkering of the vessel, long term (over one year) storage of test fuel at ambient temperatures, and importantly confirming the emissions reduction potential of Marine MSAR®.
During this first assessment it was not possible to fully optimise engine performance, as the test configuration afforded limited scope for relevant 'in service' adjustments. These recent results have provided the necessary data for future adjustment and assessments.
Further marine engine and 'in service' tests are planned in the second half of the year with the support of Maersk, candidate refineries and major engine manufacturers. On completion, the programme is planned to move to the next phase involving use of MSAR® fuel in a sample of the Mærsk fleet.
Commenting on these developments Ian Williams, Chairman of QFI, said:
"As expected by QFI and our Joint Development Programme partners , this first 'in service' assessment has yielded valuable data to inform and guide progression to commercial availability of our Marine MSAR fuels. In particular, the confirmation of potential emissions related environmental benefits is a key outcome. We are especially encouraged by the continued support and enthusiasm of our partners in this 'game changing' venture."
For further information, please contact:
Ian Williams, Executive Chairman Hemant Thanawala, Finance Director Quadrise Fuels International Plc
| +44 (0)20 7550 4931
|
Dr Azhic Basirov / Siobhan Sergeant Nominated Adviser Smith & Williamson Corporate Finance Limited
| +44 (0)20 7131 4000 |
Dermot McKechnie / Petre Norton Broker Westhouse Securities Limited
| + 44 (0)20 7601 6100 |
Philip Dennis / Nick Lambert / Rollo Crichton-Stuart Public & Investor Relations Pelham Bell Pottinger | +44 (0)20 7861 3232 |