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REG - Quadrise PLC - Morocco Project Update

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RNS Number : 2067U  Quadrise PLC  22 November 2023

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

 

22 November 2023

 

Quadrise Plc
("Quadrise" or the "Company")

Morocco Project Update

Successful Completion of Industrial Demonstration Test

Quadrise Plc (AIM:QED), the supplier of innovative energy solutions for a
cleaner planet, provides an update on its fuel trial in Morocco following the
announcement made by the Company on 31 October 2023.

Quadrise is now pleased to announce that the industrial demonstration test of
MSAR® and bioMSAR™ fuels at the client's site in Morocco (the "Trial") has
been successfully completed in accordance with the performance criteria of the
agreement announced by the Company on 13 June 2022.

The client's industrial unit was processing product at commercial scale
throughout the Trial, with the Company's fuels used to provide the required
thermal energy for drying. The objective was to make a direct comparison with
normal operations running on heavy fuel oil. The industrial unit in question
was successfully operated at varying loads of up to 100%, equivalent to 33MW
of energy that is supplied by a single burner. This is similar to the energy
consumption of a medium-sized container ship.

The final phase of combustion optimisation tests recently completed involved
experts from Quadrise and the client fine-tuning combustion at full (100%)
load and production rates using Quadrise fuels.

Emissions from MSAR® and bioMSAR™ combustion were very low, and well within
environmental limits for the site. This was the first demonstration of
bioMSAR™ in an industrial application. Quadrise is now preparing a technical
report to submit to the client within the next month.

The parties will now enter into discussions for long-term commercial supply,
in conjunction with reaching agreement for testing at the client's other sites
to expand supply opportunities for MSAR® and bioMSAR™ fuels. In parallel,
the Company will continue work to ensure the supply of appropriately located
and priced residual feedstock.

Further announcements will be made, as appropriate, in due course.

Commenting on the update, Jason Miles, Chief Executive Officer of Quadrise,
said:

"We're delighted to have finally completed this commercial-scale trial in
Morocco, which has demonstrated the stability and performance of both MSAR®
and bioMSAR™ in one of the client's major facilities. We would like to
especially thank the client and our shareholders for their continued support
in achieving this positive outcome, and we look forward to discussing
commercial supply and applications in other major facilities with the client."

 

For additional information, please contact:

 

 Quadrise Plc                                             +44 (0)20 7031 7321
 Andy Morrison, Chairman

 Jason Miles, Chief Executive Officer

 Nominated Adviser
 Cavendish Capital Markets Limited                        +44 (0)20 7397 8900
 Ben Jeynes
 Katy Birkin
 Joint Brokers

 Shore Capital Stockbrokers Limited

                                                          +44 (0)20 7408 4090
 Toby Gibbs, Rachel Goldstein (Corporate Advisory)
 Fiona Conroy (Corporate Broking)
 ( )                                                ( )   ( )
 VSA Capital Limited                                      +44 (0)20 3005 5000

 Andrew Raca (Corporate Finance)

 Andrew Monk (Corporate Broking)

 Public & Investor Relations
 Vigo Consulting                                          +44 (0)20 7390 0230

 Patrick D'Ancona

 Finlay Thomson

 

About Quadrise

Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels
and biofuels, providing innovative solutions to reduce energy costs and
greenhouse gas emissions today for clients in the global power generation,
shipping, industrial and refining industries.

 

Learn more at: www.quadrise.com (http://www.quadrise.com/)

 

 

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