Business
Morocco Update
Morocco Update.
About this update from Quadrise Plc
[{"type":"text","content":"\n\n18 August 2023\n \nQuadrise Plc (\"Quadrise\" or the \"Company\")\nMorocco Update\nQuadrise Plc (AIM:QED), the supplier of innovative energy solutions for a cleaner planet, provides an update on its fuel trial in Morocco following the announcement on 22 June 2023.\nThe Quadrise team returned to site at the client's request to recommence the trial early last week. \nCombustion at 100% unit load was achieved, but unfortunately it was not possible to complete the test at full load due to a progressive decline in fuel pump performance. The pump was replaced with an identical spare unit this week, but similar performance issues were experienced at full load, indicating a design issue with the pump units at high pressure.\nA replacement pump of alternative design is being expedited to Morocco for installation later this month. The trial is now expected to be completed in early September, and the client remains supportive of the Company's efforts to resolve this issue and progress the project at the next available opportunity. \nJason Miles, CEO of Quadrise commented:\n\"The design issues experienced with the pumps to date were not foreseeable and are very frustrating for all concerned. We remain highly confident that once the trial resumes following the installation of an alternative pump, we will be able to demonstrate the benefits of MSAR® and bioMSAR™ in the commercial trial for our supportive client.\"\nFor additional information, please contact:\n \n\n\n\n\nQuadrise Plc\n\n\n\n\n\n+44 (0)20 7031 7321\n\n\n\n\nAndy Morrison, Chairman\nJason Miles, Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\n\n\n\nCenkos Securities plc\n\n\n\n\n\n+44 (0)20 7397 8900\n\n\n\n\nBen Jeynes\n\n\n\n\n\n\n\n\n\n\nKaty Birkin\n\n\n\n\n\n\n\n\n\n\nJoint Brokers\nShore Capital Stockbrokers Limited\n\n\n\n\n\n \n \n+44 (0)20 7408 4090\n\n\n\n\nToby Gibbs, Rachel Goldstein (Corporate Advisory)\n\n\n\n\n\n\n\n\n\n\nFiona Conroy (Corporate Broking)\n\n\n\n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nVSA Capital Limited\nAndrew Raca (Corporate Finance)\nAndrew Monk (Corporate broking)\n\n\n\n\n\n+44 (0)20 3005 5000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPublic & Investor Relations\n\n\n \n\n\n \n\n\n\n\nVigo Consulting\nPatrick D'Ancona\nFinlay Thoms...