Quadrise Fuels International (QFI): The clean s...

Edison Investment Research Limited Quadrise Fuels International (QFI): The clean solution to a global problem 24-Nov-2020 / 08:00 GMT/BST London, UK, 24 November 2020 Quadrise Fuels International (QFI): The clean solution to a global problem Quadrise has developed a synthetic heavy fuel oil technology that potentially improves the profitability of refineries producing heavy fuel oil (HFO) and upstream operations, as well as reducing costs and polluting emissions for HFO users in the power, industrial and marine bunker markets. The company has recently completed a pilot trial in Morocco, with a trial at a US site scheduled for completion in calendar Q121. These trials are to demonstrate the efficacy of MSAR ahead of potential progression to commercial supply in calendar H221. It is also in discussions about projects in Ecuador, Mexico and Saudi Arabia and with two major shipping companies. Based on data from the company, our scenario analysis calculates that even modest adoption of MSAR would generate material profits. A single refinery producing MSAR equivalent to 1.9Mtpa HFO under a licensing model would generate $15.9m in annual EBITDA (see page 13 for more details). Click here to view the full report. Subscribe to Edison's content to receive reports by email. All reports published by Edison are free-to-access and available on the website. About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information please contact Edison: Anne Margaret Crow, [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn  https://www.linkedin.com/company/edison-group- Twitter   www.twitter.com/Edison_Inv_Res YouTube   https://www.youtube.com/user/EdisonITV/videos Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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1150046 24-Nov-2020