Contract for Commercial Scale Manufacturing Plant

RNS Number : 4350L

Quadrise Fuels International PLC

01 August 2011

 



1 August 2011                                                    

Quadrise Fuels International Plc ("QFI" or "Quadrise" or the "Company")

Contract with AkzoNobel for a Commercial Scale  MSAR^® Fuel Manufacturing Plant

Further to the announcement made on 29 June 2011, QFI is pleased to announce the closing of an important contract supporting the project development programme directly managed by Quadrise International Limited ("QIL"),  a 100% owned subsidiary of QFI.

An agreement has been concluded with AkzoNobel for the purchase of the first commercial scale 1,000 tonne (6,000 barrels) per day MSAR^® Manufacturing Unit ("MMU") to be supplied to QIL.  Fabrication by AkzoNobel's sub-contractor will commence shortly with scheduled delivery to QIL in the 4^th quarter of this year. The MMU is sized to fit the early commercial phase requirements of any of the programmes currently being scoped and developed with industry partners for the MSAR^® Marine Fuels market (initial nominated volumes to be supplied from European ports), and for refinery based projects in Mexico and Saudi Arabia.

The business of QIL involves the manufacture and supply of Quadrise MSAR^® emulsion fuels as a low cost replacement for conventional fuel oil in oil refining and industrial operations, power generation, desalination and the international marine bunker fuels market.

Fuel oil consumption represents one of the largest liquid fuels markets at a global level - more than 600 million tons per annum. The QIL projects are directed at selective sectors with major industry partners to build secure, diverse and profitable outlets for MSAR^® fuels.

Commenting on this agreement, Ian Williams, Executive Chairman of QFI said:

"This agreement with AkzoNobel is a significant milestone for the Company. This high quality full scale process plant will provide QIL with the capacity to deliver MSAR^® fuel for the first of several commercial mode projects in the refinery, power and marine sectors. Delivery is synchronised with programmes currently being developed with major stakeholders including PEMEX and A.P.Møller-Mærsk."

-Ends-

Enquiries:

Quadrise Fuels International plc Ian Williams, Executive Chairman Hemant Thanawala, Finance Director	Tel: [phone]
Smith & Williamson Corporate Finance Limited Azhic Basirov Siobhan Sergeant	Tel: [phone]
Jendens Securities Limited Andrew Edwards Christopher Thomas	Tel: [phone]

 

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