23rd Sep 2021 11:53
Quadrise Fuels International PLC - London-based residual oil technology licensor - Says extensive tests confirm the ability to produce commercial fuels from heavy sweet oil produced by Greenfield Energy LLC. Says simulations indicated that commercial production of Quadrise's MSAR heavy fuel oil and bioMSAR synthetic biofuel would be possible in Utah for power and marine end-user applications. This testing programme concludes the proof-of-concept work that was scheduled in Phase 1 of the commercial trial agreement," the company says. This agreement was announced on August 18.
Enters discussions with Greenfield about potential future trials and commercial-scale production of the fuel. Greenfield is a wholly-owned subsidiary of US oil developer TomCo Energy PLC, who says it was encouraged by the news.
Current stock price: 4.15 pence, up 14% on Thursday
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By Scarlett Butler; [email protected]
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