22nd Jan 2008 07:00
Quadrise Fuels International PLC22 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 thedeparture of Mr. Anthony Kallis. Jason Victor Miles (age 37) started his career in 1990 as a process engineer forBP Engineering in London. In 1992 he was seconded to the joint venture withPetroleos De Venezuela SA that established the market for Orimulsion. He hasover 10 years of specialist technical, environmental and commercial productknowledge in the use of emulsion fuel for power generation. From 2004, and priorto joining Quadrise in 2006, he was a Senior Consultant in Energy Trading andRisk Management for OpenLink. Jason holds a B.Eng (Hons) in Chemical Engineeringfrom Loughborough University and an Executive MBA (Finance) with distinctionfrom Cass Business School in London. He is a chartered chemical engineer. Commenting on the appointment, Bill Howe, Chief Executive Officer of Quadrisestated: 'We are delighted to appoint Jason to the Quadrise Board. On joining theCompany in 2006, Jason's prior emulsion fuels experience quickly and positivelyimpacted Quadrise's business development activity, and has resulted in Quadriseadvancing several projects to a point where negotiations with a number ofleading industry participants are expected to be realised. Quadrise's managementteam contains a unique combination of skills across the entire fuel processingchain from hydrocarbon sourcing and valuation, through distribution logisticsand applications engineering at the point of use. This expertise, coupled withthe enhanced technology behind MSAR, our second-generation emulsion fuel, isfinding recognition as a value-adding solution for both refiners seeking to costeffectively dispose of vacuum residues, and power generators seeking alower-cost, oil-based fuel.' Mr. Miles has no current and has had no previous directorships and partnershipsover the past five years. Mr. Miles has options to 750,000 ordinary shares at 14.23p per share granted inMarch 2007 and 2,500,000 ordinary shares at 1.00p per share granted in December2007. There is nothing further to disclose in relation to Jason Miles's appointmentpursuant 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 plcBill HoweCEOT: +44 (0)20 7550 4930 Smith & Williamson Corporate Finance LimitedAzhic Basirov / Siobhan Sergeant+44 (0)20 7131 4000 Notes to editors: Quadrise Fuels International plc ("Quadrise") produces an emulsion fuel as a lowcost substitute for conventional heavy fuel oil ("HFO") for use in powergeneration plants and large steam raising or energy consuming industries. In manufacturing its fuels, Quadrise uses the least valuable elements of the oilbarrel, thus providing a very cost effective product whilst simultaneouslyfacilitating a means to market for the least desirable heavy crudes and refineryderived residues. The emulsion fuel product, termed MSAR (Multiphase Superfine Atomised Residue),has superior combustion characteristics to conventional HFO and coal, and hascomparable or superior environmental performance in respect of greenhouseemissions. In addition to providing operating cost savings MSAR may facilitate the upwardrevaluation of resource or industrial plant assets by extending their economiclife or increasing their on-line load factor. Quadrise adopts a number of business models, including on site fuels manufactureat 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 ExchangeRelated Shares:
QFI.L