Update re Greenfield MSAR Trial

18 December 2020

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® emulsion technology and fuels, a low-cost, cleaner alternative to heavy fuel oil, notes the announcement by TomCo Energy plc today in relation to Greenfield Energy LLC and a delay in the start-up of Petroteq Energy Inc's existing oil sands plant in Utah ("POSP") such that the POSP restart is now expected to occur in January 2021. Quadrise looks forward to receiving samples from POSP following its restart. Once received, the POSP samples will enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility.

Enquiries:

Quadrise Fuels International plc +44 (0)20 7031 7321

Mike Kirk, Chairman

Jason Miles, Chief Executive Officer

Cenkos Securities plc +44 (0)20 7397 8900

Nominated Adviser

Ben Jeynes

Katy Birkin

Peel Hunt LLP +44 (0)20 7418 8900

Joint Broker

Richard Crichton

David McKeown

Shore Capital Stockbrokers Limited +44 (0)20 7408 4090

Joint Broker

Toby Gibbs

Fiona Conroy

FTI Consulting +44 (0)20 3727 1000

Public and Investor Relations

Ben Brewerton

Notes to Editors

QFI is the supplier of MSAR® and bioMSAR® emulsion technology and fuels, a low-cost environmentally beneficial alternative to heavy fuel oil for the global power generation, shipping, industrial and refining industries.