16th May 2023 18:41
Quadrise PLC - London-based innovator & licensor of residual oil technology, producing a synthetic heavy fuel oil called MSAR - Provides update covering progress on each of its key projects. In Morocco, says the industrial demonstration test is now scheduled to commence in May. Upon success, the parties will enter discussions for potential commercial supply, with a view to signing a fuel supply agreement in the third quarter. Adds discussions with third party fuel suppliers for the proof-of-concept and letter of no objection trials on board the MSC Leandra are progressing positively. Says the intended outcome of these discussions is to conclude a tripartite agreement between the supplier, MSC and Quadrise as soon as possible. Further, in Utah - Quadrise and Valkor are finalising terms for the supply of a licence, services and manufacturing unit to enable Valkor to produce MSAR and bioMSAR for the first project, and conditional sub-licensing of the technology for other heavy oil projects in Utah. Read More
