26th Jan 2007 07:01
Quadrise Fuels International PLC26 January 2007 26 January 2007 Quadrise Fuels International plc ("Quadrise" or "the Company") AIM : QFI Update on Activities Quadrise is pleased to provide this update on the Company's business activities. Key milestones have been reached on important elements of the Company'sStrategic Plan. The Review Phase has been completed and resulted in: - Selection and detailed analyses of candidate major power plants and world scale oil refineries. - Identification of 2,500MW of highly prospective power plant offtakeopportunity for MSAR fuel. - Confirmation that Quadrise technology offers major potential benefits to the oil refining industry in terms of profitability, investment avoidance andenvironmental performance. This phase was followed by a programme of selective engagement with potentialclients and partners focused on the prospects for Quadrise fuels relatedapplication in their individual plants and operations. Priority has now shifted to formulation of specific project proposals andprogressing associated negotiations to agree terms for commercial trials forboth the power plant and refinery fuelling applications. Securing contracts for fuel supply to only a very modest share of the identified2,500 MW of generating capacity will financially underpin the business and thisremains a prime early objective. Thereafter, focus will shift to the medium termdevelopment of highly prospective oil burning power markets in the Far East,Mexico and the Middle East. The Company's independently managed associate, Quadrise Canada Corporation('QCC') completed the strategic acquisition of the sole manufacturer ofproprietary MSAR manufacturing units in late 2006. In addition, QCC completedsuccessful trials of MSAR fuel with the world's leading manufacturer of largescale diesel fuelled power plants, thereby opening an additional largeinternational market for Quadrise MSAR fuels. The Company holds a 21.17%interest in QCC. Bill Howe, Quadrise CEO, commented, "Our programme has confirmed a positivebusiness case for Quadrise MSAR fuels in our target markets. The recent oilprice trend is also generally positive for our business. Lower oil pricessustain the potential for oil fired thermal and diesel power generation, andalso improve our competitiveness against other energy sources. "Our success will be measured by closing contracts for our products andservices. We are confident that maintaining focus and momentum with our definedprogramme will deliver on early identified project contracts, financiallyunderpin the business and provide funds for expansion." The Company's interim results to 31 December 2006, due to be released on 19March 2007 will include a further update on activities. 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 Parkgreen CommunicationsSimon Robinson / Victoria Thomas+44 (0)20 7493 3713 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