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Quadrise Fuels Intnl - Statement re MSAR Licensing

RNS Number : 2712Q
Quadrise Fuels International PLC
17 June 2020
 

17 June 2020

 

 

Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")

 

Statement re MSAR® Licensing

 

Quadrise Fuels International plc (AIM: QFI), notes the announcement released by TomCo Energy plc ("TomCo") this morning which included a reference to the purported existence of a right to an exclusive licence for the use of Quadrise's MSAR® technology in Utah, USA.  

 

As previously noted in the Company's half-yearly report, Quadrise has been working with Valkor Technologies LLC ("Valkor") under a memorandum of understanding to investigate the potential deployment of MSAR® technology on sweet heavy and paraffinic oil deposits in Utah, USA

 

The Company is pleased to confirm that its evaluations with Valkor in this regard are progressing well and that both parties continue to believe that the use of MSAR® technology can add significant value to the development of sweet heavy oil deposits in Utah. The Company welcomes additional discussions in this regard which, if concluded successfully, could lead to the granting of a conditional licence on commercial terms to Valkor.

 

However, at this stage, no licences or rights to licences for the use of MSAR® technology have been granted to Valkor for hydrocarbons produced from oil sands in Utah, USA or for any other purpose and Quadrise has not had any direct discussion with TomCo or any of Valkor's partners in Utah to date.

 

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

 

For further information, please refer to the Company's website at www.quadrisefuels.com, or contact ir@quadrisefuels.com or phone:

 

Quadrise Fuels International Plc


Mike Kirk, Chairman

+44 (0)20 7031 7321

Jason Miles, Chief Executive Officer




Nominated Adviser


Cenkos Securities plc


Ben Jeynes

Katy Birkin

+44 (0)20 7397 8900



Joint Brokers


Peel Hunt LLP


Richard Crichton

+44 (0)20 7418 8900

David McKeown 




Shore Capital Stockbrokers Limited


Toby Gibbs

Fiona Conroy

+44 (0)20 7408 4090

 

Public & Investor Relations


FTI Consulting


Ben Brewerton

+44 (0)20 3727 1000

Ntobeko Chidavaenzi

Quadrise@fticonsulting.com

 

Notes to Editors

 

QFI is the supplier of MSAR® 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 power generation, shipping, industrial and refining industries.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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