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Flat packed version by IKEA, no ones figured out how to make it yet and theres bits missing.
Meanwhile the SP continues to fall, but good news eh Indigo TOP UP TIME!!!
I thought that quadrise signed a contract with a refinery in Saudi Arabia to stay manufacture this fuel ,if that is the case thy should have plenty of it by now.
utah's product may well find a market in the substantial near coastal and river traffic in the US
We had large tanks full of the stuff in Gibraltar whilst the Maersk trial was on.
The plain simple fact is that msar may be be the cleanest and cheapest fuel there is, but we don't have any available and until we do we won't have any customers. When we have large tanks full of msar it will be a different ball game.
No worries Rob, I know you’re a genuine poster and meant nothing by it. My comment was more a reaction to the general attitude that exists on some chat boards (not ours usually)where anything short of 100% positivity combined with closing your mind to alternatives, is the norm.
You only have to read the Tomco board to find exactly what I mean. Mis-using data to create ridiculous profit/income levels to ramp the SP. I can’t abide that BS.
Pointing out the facts makes one the enemy, which is fine as I maintain truth hurt nobody in the long run.
Salinger - no offence intended. Quite to the contrary I highly value your inputs and welcome fair challenge of our commercial strategy and chances of success. Any rose-tinted view of this being a sure thing is foolish, I was simply trying to inject some humour and positivity.
I agree finding and signing a customer to burn MSAR will be a massive milestone for us. I do however think our chances of finding such a customer is significantly greater once an MSAR supply is secured and also now the ESG background has shifted massively in recent years in our favour. It would also help greatly if we can push MSC or Morocco over the line as the industry precedent for using our fuel is then set, which should quickly see a much wider rollout of our fuel.
IMO the first customer will be Greenfield itself, using the initial MSAR as a replacement for the propane used for heating and also provide power for driving the plant.
It would also be an ideal reference site for prospective users to see it in use.
I obviously hope you are correct, for me the whole project becomes real when we have a trial customer, and being America market forces should decide if it succeeds.
Greenfield would be the fuel producers, we get a royalty per tonne.
No, we licence our tech to Greenfield and we provide technical support for quality control, but Greenfield have responsibility to find end users. Yes, QFI have been in discussions with them about target markets, but ultimately were still in the same boat of having the potential to produce fuel but no recognised buyers as, at present, an msar market does not exist. It’s been the chicken and egg puzzle we’ve had from the outset, refiners see the plus but who’s going to buy? It’s a tough puzzle to solve and yes, I do think having low sulphur msar is an extra carrot for potential users.
My hope is that they have an idea where to put it, why bother trialing if they don't? I live in hope but it’s never been clear to me where the end market is, specifics not generalised comment.
Greenfield have zero experience as fuel producers, much less than QFI so I’m not too confident they have what it takes tbh. It’s the one area of the Utah project that’s never been fleshed out. Jason said once that there’d be “no problem finding a market for Utah product”. Great, like where? An example perhaps? Given our history that sort of comment begins to sound like wishful thinking.
Getting a customer is not contingent on whether the fuel works or not, we’ve known it works for years but still have no customers.
I question why stating a fact makes anyone negative. It’s the single most important fact about QFI, we have no customers, yet, which is why I’m still here.
Indigo2015 - confirmation of your post
QFI update on Maersk 7 April 2017.
" Maersk has reaffirmed that the MSAR® trial has been successful to date and it will continue to work with Wärtsilä to ensure that a detailed interim inspection report is prepared following the recent inspection and that following this an "Interim LONO" will be issued - which is expected to confirm that Marine MSAR® fuel is safe and suitable for Wärtsilä 2-stroke engines."
Greenfield even, not PQE. You get my drift.
Don’t be a negative nelly ;-)
Products proven so no issues there. Customers will want it pending a secured supply is my bet. Even if it takes time to secure an MSAR customer it will still probably save PQE money sending MSAR to a refinery in place of the diluents used presently. A proven supply of quality MSAR coming from Utah I can’t imagine will have trouble finding a local home, if not further afield.
I think when they identify and make public future customers for Utah msar, then we are talking major developments. At the moment we are still a company with a fuel looking for end users.
Such an exciting time for the PQE and QFI technology. Both compliment each other brilliantly.
PQE allows for clean/greener extraction, QFI allows for a clean/greener product. Both provide cost advantages that outperform any natural competitors. A really exciting hook up and I hope it all goes ahead like it seems to be, it’s not often you have a greener/cleaner solution that also improves the bottom line of producers and consumers. This has got to be gathering the attention of some larger players, it’s highly highly disruptive to the status quo.
Agree with that entirely Salinger; it should be trivial.
The only reason it will take even a small number of weeks is that QRF need to do stability testing to provide a guarantee to the customer. Stability testing naturally takes a fixed amount of time and can't really be sped up
i.e. they make the emulsion and see what happens to it after 1 week, 2 weeks, etc, to validate that it still has the quality characteristics they guarantee to the customer for those time periods.
You can see a bit about QRF stability testing and other similar verification steps here: https://quorumzine.gitlab.io/quorum/content/2019/12/09/qrf-key-to-qfi-tech-advantage.html#stability_pump_cycle_testing
Thankyou for replying, that’s great there is good confidence in the testing of the Fuel!
Have you guys heard of the Investment Fund Trafigura, it’s business is in Marine Shipping Highlighted by The PetroTeq Energy Investor Group as per tweet, ive tracked down the their PDF and a $200m Investment in sustainability-linked companys!
https://twitter.com/petroteqi/status/1403440331648032771?s=21
Investing in disruptive renewable technologies
“We are establishing new ventures to invest in renewable energy assets. We have taken strategic stakes in a number of early-stage disruptive renewable technologies, including hydrogen power and alternative fuels, renewable energy storage technologies and carbon utilisation.
Trafigura will share knowledge and leverage its expertise and international network to support these companies to help bring technologies to market at scale that accelerates the energy transition.”
Trafigura closes a new USD203.5 million US Private Placement, its first sustainability-linked capital markets transaction
https://www.trafigura.com/press-releases/trafigura-closes-a-new-usd203-5-million-us-private-placement-its-first-sustainability-linked-capital-markets-transaction
PDF Page 54 starts :-
https://www.trafigura.com/media/2948/2020-trafigura-responsibility-report.pdf
That Tomco are only getting $55 a barrel at the moment is also good news for QFI. The $ per barrel increase in value once the MRAR has been added and grade of oil improved, will clearly demonstrate the value added.
So for other companies with similar product or for other sites considering the Greenfield type plant, they can see the benefits in $$ of MRAR
It’s a 100% certain that QFI can make MSAR from Utah bitumen. The only issue has been getting an oil sample that is clean enough, ie sufficiently free from clay sediments and process chemicals. It seems from what QFI have said, these samples should meet that spec.
The trial should be straight forward as a proof of concept. I should imagine the 100 tonnes produced will be burned at the POSP as part of the test as this is likely an integral part of future planning.
The test will in my opinion comprise all variations of MSAR, Marine, Power and transportation to refinery, QFI have states the POSP sales oil is of the quality for the MSAR process. All variations will give different end product pricing and allow Greenfield to include the figures in the final planning for the bigger plants financing, as production increases the bigger margins for the LS Marine fuel will be able to be achieved, after LONO of course.
Plants just taken a bit longer than anticipated, the focus has been too adjust the plant too process different variations of Ore so the FEED study can take that into account also, more upgrades and now the major milestone of 250bbls/day!
Into the new phase now as they are happy with the process and end product and so are the refineries with the sand and sendiment/water at a lower level!
It was always said that the tie up with Quadrise was the plan, and so great news today that it was mentioned with some here predicted that the POSP plant don’t need it, which is probably correct but if MSAR makes that process end product better and open too more attractive too more markets then it’s something that will be done!
What’s the chances of this test going well, you guys have been around here a while and would have more of a clue about these matters, we know its 10.9 would be the end product API?