Quadrise Fuels International PLC
22 January 2008
Quadrise Fuels International ('Quadrise' or 'the Company')
(AIM: QFI)
Director Appointment
The Board of Quadrise is pleased to announce the appointment of Jason Miles,
Vice President - Business Development, as an Executive Director following the
departure of Mr. Anthony Kallis.
Jason Victor Miles (age 37) started his career in 1990 as a process engineer for
BP Engineering in London. In 1992 he was seconded to the joint venture with
Petroleos De Venezuela SA that established the market for Orimulsion. He has
over 10 years of specialist technical, environmental and commercial product
knowledge in the use of emulsion fuel for power generation. From 2004, and prior
to joining Quadrise in 2006, he was a Senior Consultant in Energy Trading and
Risk Management for OpenLink. Jason holds a B.Eng (Hons) in Chemical Engineering
from Loughborough University and an Executive MBA (Finance) with distinction
from Cass Business School in London. He is a chartered chemical engineer.
Commenting on the appointment, Bill Howe, Chief Executive Officer of Quadrise
stated: 'We are delighted to appoint Jason to the Quadrise Board. On joining the
Company in 2006, Jason's prior emulsion fuels experience quickly and positively
impacted Quadrise's business development activity, and has resulted in Quadrise
advancing several projects to a point where negotiations with a number of
leading industry participants are expected to be realised. Quadrise's management
team contains a unique combination of skills across the entire fuel processing
chain from hydrocarbon sourcing and valuation, through distribution logistics
and applications engineering at the point of use. This expertise, coupled with
the enhanced technology behind MSAR, our second-generation emulsion fuel, is
finding recognition as a value-adding solution for both refiners seeking to cost
effectively dispose of vacuum residues, and power generators seeking a
lower-cost, oil-based fuel.'
Mr. Miles has no current and has had no previous directorships and partnerships
over the past five years.
Mr. Miles has options to 750,000 ordinary shares at 14.23p per share granted in
March 2007 and 2,500,000 ordinary shares at 1.00p per share granted in December
2007.
There is nothing further to disclose in relation to Jason Miles's appointment
pursuant to Rule 17 of the AIM Rules for Companies.
MSAR is a registered trade mark of Quadrise Fuels International plc.
For further information, please contact:
Quadrise Fuels International plc
Bill Howe
CEO
T: +44 (0)20 7550 4930
Smith & Williamson Corporate Finance Limited
Azhic Basirov / Siobhan Sergeant
+44 (0)20 7131 4000
Notes to editors:
Quadrise Fuels International plc ('Quadrise') produces an emulsion fuel as a low
cost substitute for conventional heavy fuel oil ('HFO') for use in power
generation plants and large steam raising or energy consuming industries.
In manufacturing its fuels, Quadrise uses the least valuable elements of the oil
barrel, thus providing a very cost effective product whilst simultaneously
facilitating a means to market for the least desirable heavy crudes and refinery
derived residues.
The emulsion fuel product, termed MSAR (Multiphase Superfine Atomised Residue),
has superior combustion characteristics to conventional HFO and coal, and has
comparable or superior environmental performance in respect of greenhouse
emissions.
In addition to providing operating cost savings MSAR may facilitate the upward
revaluation of resource or industrial plant assets by extending their economic
life or increasing their on-line load factor.
Quadrise adopts a number of business models, including on site fuels manufacture
at refineries, at point of use - either adjacent to or on customers facilities,
and at central manufacturing facilities acting as bulk fuel suppliers.
This information is provided by RNS
The company news service from the London Stock Exchange
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