26th May 2023 09:33
Quadrise PLC - London-based innovator & licensor of residual oil technology, producing a synthetic heavy fuel oil called MSAR - Says first phase of engine testing with Vertoro BV joint-venture confirms material improvements in efficiency and emissions reductions with bioMSAR fuel. Says it has produced stable blends of bioSMAR containing up to 40% of Vertoro's crude sugar oil, which shows energy efficiency improvements of 7%, resulting in reduced fuel consumption and lower carbon dioxide emissions. Quadrise and Vertoro have been working together since September last year to develop a cost-effective supplement or alternative to glycerine in Quadrise's bioMSAR fuel.
Quadrise Chief Executive Officer Jason Miles says: "The company is delighted with the test results to date that combine Vertoro's crude sugar oil with bioMSAR fuel. CSO products are potentially the most price competitive net-zero biofuel solutions for the marine sector. This offers another compelling solution for the marine sector as it looks to accelerate decarbonisation and emissions reduction economically and safely."
Current stock price: 1.15 pence, up 8.6% on Friday
12-month change: down 38%
By Sabrina Penty, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.