QFI.L Regulatory News (QFI)

1 April 2021

Quadrise Fuels International plc

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

Update re Greenfield MSAR® Commercial Trial Agreement

Quadrise Fuels International, the supplier of MSAR® and bioMSARTM emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, notes the announcement by TomCo Energy plc ("TomCo") today in relation to Greenfield Energy LLC ("Greenfield") and the Front End Engineering and Design ("FEED") study being carried out on the Petroteq Oils Sands Plant at Asphalt Ridge, Utah ("POSP"). The TomCo announcement explains in detail why commissioning and start-up of the POSP has been delayed during Q1'21, to enable the processing of ore from a potential site (the "Potential Site") which is being assessed and on which Greenfield's first 10,000 bopd plant may be built.

It is expected that the enhanced POSP will restart after Easter, and that oil samples extracted from ore of the Potential Site will then be taken, assayed, and then shipped in April to the UK, to enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility ("QRF") as planned. As previously noted, we anticipate being able to complete the MSAR® tests at QRF within three weeks of samples being received.

For further information, please refer to the Company's website at www.quadrisefuels.com, or contact ir@quadrisefuels.com or phone:

Notes to Editors

QFI is the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, (one of the world's largest fuel markets) in the global power generation, shipping, industrial and refining industries.