RNS Number : 8122D
Quadrise Fuels International PLC
19 September 2008
Quadrise Fuels International plc ("QFI" or "the Company")
(AIM: QFI)
Director Appointment
The Board of QFI is pleased to announce the appointment of Dr Ian Duckels as a
Non-Executive Director with immediate effect.
Michael Ian Duckels (age 61) has degrees in Chemistry, Chemicals Physics and Computer
Science and is also a qualified accountant. He
has extensive experience in the oil and energy sectors in progressively more senior roles
spanning refining technology and plant management
to global strategic planning and international mergers and acquisitions.
During the mid 1980's, Dr Duckels managed the BP Corporate Planning activity associated
with determining the financial implications of
the BP group global corporate strategy and was subsequently appointed Area Oil Coordinator -
USA for BP.He also has extensive experience of
refinery management and joint ventures. His last post in BP was as Chairman of the BP Texaco
Joint Venture Refinery in Rotterdam, at the
time the largest refinery in Europe.
On leaving BP in 1995, Dr Duckels set up a specialist oil trading and refining training
activity in association with the Petroleum
Economist. His association with the Quadrise MSAR® technology dates from joining Quadrise
Limited in 1998 and serving as a director of that
company until it was acquired by QFI in 2006. He has since acted as a consultant to QFI.
Commenting on the appointment, Ian Williams, Chairman, stated: "We are delighted that Ian
Duckels will be joining the QFI board. Ian
brings extensive international experience in the energy and oil sectors to the board and will
complement the present team. His expert
background in our specialised field will further strengthen the board."
The following are Dr Duckels' current directorships and those held within the last five
years:
Current Directorships Past Directorships
Denex Limited Bridge Farm Hatcheries Limited
Ritoil Associates Partners in Trout Limited
Limited Quadrise Limited
XVS Limited
Zero-M Limited
Zero-M Vehicle
Systems Limited
ZPF Limited
Dr Duckels holds 4,029,052 ordinary shares in the Company. This represents 0.87% of the
issued shares in the Company.
Dr Duckels was a director of Bridge Farm Hatcheries Limited, a family owned business, and
Partners in Trout Limited, a company in which
Bridge Farm Hatcheries Limited was a 50 per cent. shareholder and which had one other
shareholder. Both companies were engaged in trout
farming activities and were voluntarily wound-up in 2005 with no outstanding creditors.
There is nothing further to disclose in relation to Ian Duckels' appointment pursuant to
Rule 17 of the AIM Rules for Companies.
For further information, please contact:
Quadrise Fuels International plc
Ian Williams
Chairman
T: +44 (0)20 7550 4930
Smith & Williamson Corporate Finance Limited
Azhic Basirov / Siobhan Sergeant
+44 (0)20 7131 4000
Capital MS&L
Penny Freer
James Madsen
+44 (0) 20 7307 5330
Notes to editors:
Quadrise Fuels International plc ("Quadrise") has rights to produce an emulsion fuel as a
low cost substitute for conventional heavy
fuel oil ("HFO") for use in power generation plants and industrial diesel engines. It
recently successfully completed the manufacture and
burn of a 20,000 tonne batch of MSAR® in Lithuania.
The manufacturing process of these fuels 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 heavy fuel oil, achieving complete carbon burn-out and producing lower NOx
emissions.
Oil refiners applying the technology enjoy enhanced value realisation for their least
valuable residues and the potential to avoid very
heavy capital expenditure on heavy oil upgrading facilities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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