15 October 2026
Quadrise Plc
("Quadrise" or the "Company")
Valkor update
Quadrise Plc (AIM:QED), the manufacturer of lower cost, lower emission, replacement fuels and biofuels for shipping and heavy industry, provides an update on its project with Valkor Technologies LLC ("Valkor") in Utah, USA.
A representative heavy sweet oil sample from Valkor's pilot plant has been received at the Quadrise Research Facility ("QRF") in Essex. Testing has commenced and both MSAR® and bioMSAR™ emulsions have been successfully formulated using the sample. Further optimisation work is planned during Q4 2026.
Valkor has advised the Company that progress continues at its Asphalt Ridge project. Drilling has commenced at two pilot wells and site installation works for Valkor's 500 barrels per day oil sands pilot plant are underway, with production targeted to commence during Q1 2027. Valkor is also progressing preparations for a broader development programme to support future production growth at the site, with multi-million dollar project finance expected to conclude in Q4 2026.
Joint preparations for marketing of MSAR® and bioMSAR™ opportunities in Utah are underway.
Valkor has further advised the Company that it expects to pay US$300,000 of the outstanding US$950,000 site licence fee balance by the end of October 2026. Valkor has confirmed that this payment is not dependent upon the completion of any fundraising. The remaining US$650,000 balance is expected to be paid upon completion of Valkor's ongoing fundraising process in Q4 2026.
Preparations for deployment of Quadrise's 600 barrels per day Multifuel Manufacturing Unit ("MMU") and associated equipment in Utah continue. Shipment and mobilisation on site are planned following receipt of the outstanding licence fee balance.
For further information please contact:
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Quadrise Plc |
+44 (0)20 7031 7321 |
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Andy Morrison, Chairman Peter Borup, Chief Executive Officer Jason Miles, Chief Technology Officer |
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Nominated Adviser Cavendish Capital Markets Limited |
+44 (0)20 7220 0500 |
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Ben Jeynes |
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George Lawson |
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Joint Brokers Shore Capital Stockbrokers Limited |
+44 (0)20 7408 4090 |
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Toby Gibbs, Harry Davies-Ball (Corporate Advisory) |
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Fiona Conroy (Corporate Broking) VSA Capital Limited Andrew Raca (Corporate Finance) Andrew Monk (Corporate Broking) |
+44 (0)20 3005 5000 |
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Public & Investor Relations |
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Tavistock Communications (Financial PR & IR) Simon Hudson Nick Elwes Saskia Sizen |
+44 (0) 20 7920 3150 |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR
About Quadrise
Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels and biofuels, providing innovative solutions to reduce energy costs and greenhouse gas emissions today for clients in the global shipping, power generation, industrial and refining industries. Learn more at: www.quadrise.com
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