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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



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.


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Quick facts: Quadrise Fuels International PLC

Price: 2.765

Market: LSE
Market Cap: £29.79 m

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