10th Nov 2014 10:08
LONDON (Alliance News) - Quadrise Fuels International PLC on Monday said it has signed a deal with ENH Engineering AS for an emulsion manufacturing plant.
Under the deal, ENH will provide a plant designed for the processing of refinery heavy residues and production of MSAR fuel emulsions. MSAR is Quadrise's alternative to heavy fuel oil for the shipping, refining and power generation markets.
The company said the deal with ENH will ensure availability of the fuel in the first quarter of 2015 for its Marine and Saudi Arabian programmes.
It did not provide financial details on the contract.
"We have every confidence that this new partnership will benefit both companies and enhance our competitive advantage over the longer term," said Quadrise Executive Chairman Ian Williams.
Quadrise shares were up 4.5% to 29.40 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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