Chairman of MSAR Emulsion Bunker Firm Quadrise to Step Down

Ian Williams (pictured) will be succeeded by Mike Kirk

Quadrise Fuels International plc (Quadrise) has announced that its executive chairman Ian Williams will be retiring effective March 2016, and will be succeeded by Mike Kirk.

The company notes that Williams, who has been with Quadrise for 10 years, is also resigning from the company's board of directors.

Kirk, who has sat on the company's board as a non-executive director since December 2015, will take on the executive chairman role, effective April 1, 2016.

"I believe that two conditions needed to be met before I could stand down as Chairman: substantial traction in our lead projects; and an enthusiastic and capable successor who complements the talents on the board," said Williams.

"I'm pleased to say that over the past year we have made substantial progress in our lead programmes and Quadrise is poised to enter a new phase in its development.

"Mike is well equipped to lead the Company through this next stage of its evolution, with the assured support of a very experienced and capable Board."

To assist with the transition process, Quadrise says it has plans to enter a consultancy contract with Williams to provide continued strategic advice for a 3 month period from April 1, 2016.

"I am delighted to have been appointed Executive Chairman, to lead the business into the commercial development phase," said Kirk.

"The focus will be on extending the marketing of QFI's proprietary MSAR (Multiphase Superfine Atomised Residue) technology with our industry partners, and accessing the very large global market opportunities in power generation, marine and refining."

In November, Quadrise announced that it had signed an agreement with the University of Surrey in Guildford, enabling the company to move its primary emulsion fuels research base from Sweden to the UK.