Quadrise Fuels International PLC Stmnt re Share Price Movement (5271C)
January 22 2018 - 5:49AM
UK Regulatory
TIDMQFI
RNS Number : 5271C
Quadrise Fuels International PLC
22 January 2018
22 January 2018
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Statement re Share Price Movement
Quadrise Fuels International plc (AIM: QFI) notes the recent
movement in its share price and confirms that it is not aware of
any specific reason for this movement.
As announced by the Company on 29 December 2017, crucial
preparatory work in relation to the proposed combustion boiler
trial in the Kingdom of Saudi Arabia has been progressing for some
time and installations for fuel production are now essentially
complete and a third-party engineering study for the boiler
consumption phase has been delivered to the client in the Kingdom
of Saudi Arabia.
The combustion boiler trial is a complex project involving
several parties and progress continues to be made towards the
finalisation of all the agreements (including a tri-party and
various bilateral agreements between the key parties that define
the key responsibilities and project deliverables).
Given the scale of the boiler trial, there is an extensive fuel
production phase and this remains on track to commence in Q1 2018,
with associated bulk MSAR(R) storage and shipping to the trial
boiler to enable the combustion phase to be completed during the
second half of 2018. The trial will commence once all the
agreements are finalised, which the Company continues to anticipate
to be early in calendar year 2018.
Further announcements will be made, as appropriate, in due
course.
For additional information, please contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Mike Kirk, Executive Chairman 7321
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance
Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Katy Birkin
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Chris Burrows
Public & Investor Relations
FTI Consulting
+44 (0)20 3727
Ben Brewerton 1000
Sara Powell
Notes to Editors
QFI is the supplier of MSAR(R) emulsion technology and fuels, a
low cost alternative to heavy fuel oil (one of the world's largest
fuel markets, comprising over 450 million tons per annum) in the
global shipping, refining and steam and power generation
industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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