Lower-carbon fuel technology company Quadrise said it was on track to achieve its commercialisation targets in an update on Monday, after a board review and “positive engagement” with counterparties over the last month.
The AIM-traded firm said as a result, it would progress with each of its core projects as well as with the development of ‘bioMSAR’ fuel and its derivatives.
It said it recently met with MSC executive management in Cyprus, and was now working on an agreement covering the LONO trial programme aboard MSC container shipping vessels, and the subsequent commercial framework.
Quadrise Fuels International plc (LON:QFI) is the global innovator and licensor of disruptive heavy oil technology that produces MSAR® fuel. The Quadrise team is a unique combination of energy sector experts and fuel specialists that were instrumental in the prior commercialisation of 60 million tons of Orimulsion® fuel worldwide.