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Emulsion Fuel Trial Update

Maritime Activity Reports, Inc.

June 13, 2012

Quadrise Fuels International has been doing a sea-borne assessment of its MSAR emulsion engine fuel on a Mærsk container ship

Quadriise Fuels shareholders were advised in March 2012 that  focus would move to sea borne assessment on a Mærsk container ship to provide the operating performance information required by all participants in the programme.

During this first assessment it was not possible to fully optimise engine performance, as the test configuration afforded limited scope for relevant 'in service' adjustments.  These recent results have provided the necessary data for future adjustment and assessments.

Further marine engine and 'in service' tests are planned in the second half of the year with the support of Maersk, candidate refineries and major engine manufacturers.  On completion, the programme is planned to move to the next phase involving use of MSAR® fuel in a sample of the Mærsk fleet.

Commenting on these developments Ian Williams, Chairman of QFI, said:
"As expected by QFI and our Joint Development Programme partners , this first 'in service' assessment has yielded valuable data to inform and guide progression to commercial availability of our Marine MSAR fuels.

In particular, the confirmation of potential emissions related environmental benefits is a key outcome. We are especially encouraged by the continued support and enthusiasm of our partners in this 'game changing' venture."




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