Quadrise Fuels International PLC Statement re MSAR Licensing (2712Q)
June 17 2020 - 8:47AM
UK Regulatory
TIDMQFI
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(R) 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(R) 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(R) 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(R) 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(R) 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(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 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.
END
STRGPUCCQUPUGPM
(END) Dow Jones Newswires
June 17, 2020 08:47 ET (12:47 GMT)
Quadrise (LSE:QED)
Historical Stock Chart
From May 2024 to Jun 2024
Quadrise (LSE:QED)
Historical Stock Chart
From Jun 2023 to Jun 2024