TIDMQFI
RNS Number : 6240I
Quadrise Fuels International PLC
15 December 2020
15 December 2020
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its
subsidiaries the "Group")
Launch of bioMSAR(R)
A low carbon alternative to heavy fuel oil
Further to the Company's announcement of 27 November 2020,
Quadrise Fuels International, the licensor and supplier of MSAR(R)
emulsion technology and fuels, a low-cost, cleaner alternative to
heavy fuel oil ("HFO"), is pleased to confirm the launch of a new
sustainable fuel product "bioMSAR(R)", enabled by successful
research, development and innovation activities carried out by the
Company during 2020 .
bioMSAR(R) fuel highlights:
-- bioMSAR(R) is a synthetic alternative to HFO with
significantly reduced greenhouse gas emissions.
-- bioMSAR(R) utilises MSAR(R) technology to combine renewable
glycerol with water and refinery residues to produce an
oil-in-water emulsified synthetic HFO.
-- The primary benefits of bioMSAR(R) over HFO are lower
emissions, including 20-30% less carbon dioxide (CO(2) ), lower NOx
and lower particulates.
-- Glycerol is a benign chemical that's colourless, odourless, water soluble, non-volatile and bio-degradable.
-- As a fuel, glycerol has excellent lubricity, it burns almost
pollutant-free and is virtually carbon neutral.
-- bioMSAR(R) offers similar CO(2) emissions reductions as using
LNG in place of HFO. LNG however requires expensive cryogenic
storage and liquefaction systems, with the potential risk of
methane slip during use that materially impacts potential
greenhouse gas reductions. bioMSAR(R) fuel utilises existing
low-cost HFO infrastructure and systems, and does not contain
methane.
-- Production of bioMSAR(R) utilises the same proven MSAR(R)
technology that produces oil-in-water emulsion fuel oil to reduce
energy costs for consumers and improve refinery profitability and
yields.
-- bioMSAR(R) is fully compatible and interchangeable with conventional MSAR(R) fuel.
-- A new patent has been filed in the UK jointly with Quadrise's
intellectual property partner Nouryon Surface Chemistry AB.
Having completed successful laboratory and pilot-scale testing
of bioMSAR(R) Quadrise is now working with industry partners to
test bioMSAR(R) in both diesel engine and combustion applications.
Whilst remaining subject to subsequent larger scale studies, the
Company considers that bioMSAR(R) has the ability to fundamentally
enhance the environmental and sustainability credentials of MSAR(R)
and, in time, to increase the market opportunity for Quadrise.
The Company website has been updated with new content on our
bioMSAR(R) fuel product ( https://www.quadrisefuels.com ), and
further announcements will be made, as appropriate, in due course.
Spanish and Arabic language versions of the new bioMSAR(R) content
from the launch will be available by the end of this month.
Jason Miles, Chief Executive Officer, commented:
"The development and launch of bioMSAR(R) is a real success
story for the Company. Having planned a roadmap for a sustainable
fuel product earlier in the year, the innovative Quadrise team has
made outstanding progress in bringing our glycerol-based biofuel
from concept to market in such a short time, including the filing
of a new joint patent application with Nouryon.
Our original target for bioMSAR(R) was a 10-20% reduction in
CO(2) compared with heavy fuel oil, however 20-30% has been
achieved already which compares favourably with LNG, albeit at a
much lower cost for conversion.
The inherent stability of our water-based fuel technology lends
itself well to future biofuel applications to provide a simple and
sustainable pathway to decarbonisation.
We look forward to updating shareholders, as appropriate, on the
results from planned engine and combustion testing of bioMSAR(R),
new fuel developments, and commercial discussions with stakeholders
in the biofuel supply chain during the coming months".
For additional information, please contact:
Quadrise Fuels International plc +44 (0)20 7031 7321
Mike Kirk, Chairman
Jason Miles, Chief Executive Officer
Cenkos Securities plc +44 (0)20 7397 8900
Nominated Adviser
Ben Jeynes
Katy Birkin
Peel Hunt LLP +44 (0)20 7418 8900
Joint Broker
Richard Crichton
David McKeown
Shore Capital Stockbrokers Limited +44 (0)20 7408 4090
Joint Broker
Toby Gibbs
Fiona Conroy
FTI Consulting +44 (0)20 3727 1000
Public and Investor Relations
Ben Brewerton
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