Company Announcements

23 July 2019

Quadrise Fuels International plc

("Quadrise", "QFI" or the "Company")

Statement re Share Price Movement

Quadrise notes the movement in its share price. During 2019 the Company has been pleased to have reported significant business development progress, including the entry of new partnerships focussing on potential opportunities in Kuwait, the Kingdom of Saudi Arabia, Mexico, Morocco, China, the Commonwealth of Independent States (including Russia), Poland, Romania and Vietnam.

The agreements and MoUs entered into by Quadrise in 2019 follow the entry of a Co-Marketing and Project Development Agreement with Freepoint Commodities LLC in November 2018. As previously announced, the Company has sufficient resources to continue to operate and advance its business development opportunities until early October 2019.

As a result, the Company confirms that it is now seeking equity or equity-linked funding to enable the Company to continue with its business development initiatives beyond early October 2019 with a view to capitalising on recent business development progress and, ultimately, to delivering commercial projects.

Further announcements will be made, as appropriate, in due course.

For further information, please refer to the Company's website at www.quadrisefuels.com or contact:

Notes to Editors

QFI is the supplier of MSAR® emulsion technology and fuels, a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tons per annum) in the global power generation, shipping, steam and refining industries.

This announcement is inside information for the purposes of Article 7 of EU Regulations.