Business
Final Results, Investor Presentation & AGM Notice
Final Results, Investor Presentation & AGM Notice.
About this update from Quadrise Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0217B\n Quadrise Fuels International PLC\n 05 October 2020\n \n \n \n \n 5 October 2020\n \n \n \n Quadrise Fuels International plc\n \n \n (\"Quadrise\", \"QFI\", the \"Company\" and together with its subsidiaries the \"Group\")\n \n \n \n \n \n Final Results for the year ended 30 June 2020, Investor Presentation and Notice of Annual General Meeting\n \n \n \n \n \n Quadrise Fuels International plc (AIM: QFI) announces its audited final results for the year ended 30 June 2020 and gives notice that the Company's Annual General Meeting (\"AGM\") will be held at 12pm on 27 November 2020. \n \n \n \n \n \n Operational summary for the period and since the period end\n \n \n \n \n \n Business Development\n \n \n A prompt, proactive approach has ensured that Quadrise has been able to mitigate, to a significant extent, the potential impact of COVID-19 on its business development and project activities. This has enabled Quadrise to continue to build positive momentum over the period and demonstrate significant progress in a number of key areas:\n \n \n · \n The planned trial in Morocco was paused in mid-March 2020, just as mobilisation of the team to the client's site was due to commence (with the equipment and fuel for the trial having already arrived at the site). Prompt engagement with the client enabled the start of the Phase 2 front end engineering and design (\"FEED\") study to be brought forward with a significant part of this work now completed. As a result of regular engagement with the client both directly and through our in-country agent, we now plan to complete the trial on-site in October 2020 and to finalise a Phase 2 FEED study thereafter. \n \n \n · \n Following the signing of the MoU with Valkor Technologies LLC (\"Valkor\") during Q1 2020, rapid progress has been made with a Commercial Trial Agreement (\"CTA\") with Greenfield Energy LLC (\"Greenfield\", a joint venture between Valkor and Tomco Energy plc), signed on 18 August 2020. Plans are now progressing for Quadrise to undertake the trial at the Asphalt Ridge site (managed by Greenfield) in Utah, USA. Preparatory work on the trial MSAR® Manufacturing Unit (\"MMU\") has commenced and plans are being finalised for Quadrise personnel to access the Asphalt Ridge facility to inst...