Quadrise Fuels International PLC Update re Combustion Boiler Trial Project (5684A)
December 29 2017 - 3:34AM
UK Regulatory
TIDMQFI
RNS Number : 5684A
Quadrise Fuels International PLC
29 December 2017
29 December 2017
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Update re Combustion Boiler Trial Project
Quadrise Fuels International plc (AIM: QFI) provides the
following update on the planned combustion boiler trial project in
the Kingdom of Saudi Arabia.
As previously reported in the Company's final results
announcement on 6 November 2017, crucial preparatory work has been
progressing for some time. Installations for fuel production are
now essentially complete and a third-party engineering study for
the boiler consumption phase has been delivered to the client in
the Kingdom of Saudi Arabia.
The combustion boiler trial is a complex project involving
several parties and progress continues to be made towards the
finalisation of all the agreements (including a tri-party and
various bilateral agreements between the key parties that define
the key responsibilities and project deliverables).
Given the scale of the boiler trial, there is an extensive fuel
production phase and this remains on track to commence in Q1 2018,
with associated bulk MSAR(R) storage and shipping to the trial
boiler to enable the combustion phase to be completed during the
second half of 2018. The trial will commence once all the
agreements are finalised, which is now anticipated to be early in
calendar year 2018.
Further announcements will be made, as appropriate, in due
course.
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
For additional information, please contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Mike Kirk, Executive Chairman 7321
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance
Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Katy Birkin
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Chris Burrows
Public & Investor Relations
FTI Consulting
+44 (0)20 3727
Ben Brewerton 1000
Sara Powell
Notes to Editors
QFI is the supplier of MSAR(R) emulsion technology and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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