LONDON (Alliance News) - Emulsion fuels manufacturer and supplier Quadrise Fuels International PLC on Tuesday said progress has been made on its marine project but it has seen a delay to its pilot programme in Saudi Arabia.
Quadrise said progress has been made on the operational trial of MSAR emulsion fuels, a low-cost alternative to heavy fuel oil, at the Gibraltar San Roque Refinery. Quadrise signed a deal in September 2015 with shipping firm Maersk and refiner CEPSA to supply, install and commission a manufacturing unit to produce MSAR emulsion fuel at the CEPSA San Rogue refinery.
It said the trial is set to take place over nine months, and it expects to be able to provide an update on the trial in spring 2017.
Elsewhere, Quadrise said it has made progress on engaging with clients in Saudi Arabia on a production-to-combustion pilot programme, though at a slower pace than originally anticipated. Due to the delays, the company said it expects the project timescale will move beyond the spring of 2017 and will provide a further update on the project in due course and when a revised timetable is agreed.
Quadrise shares were down 8.6% to 10.96 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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