(Alliance News) - Quadrise Fuels International PLC on Monday said its MSAR fuel pilot trial in Morocco will be delayed due to restrictions placed by its client on external contractors as a precautionary measure amid the spread of coronavirus.
Shares in Quadrise Fuels shares were down 36% at 1.37 pence each in London on Monday.
The company's MSAR heavy fuel oil alternative technology at a customer's site in Morocco was scheduled to begin in mid-March.
"No revised trial schedule has yet been indicated and further announcements in relation to the situation in Morocco and the revised trial schedule, will be made, as appropriate in due course," the company said.
Quadrise also said that its London office and research facility in Essex remains operational, however, the company is not accepting third-party visitors to its offices.
Mike Kirk, chair of Quadrise Fuels, said: "The decision by our client in Morocco to delay the pilot trial is not surprising and parallels the procedures we have put in place to protect QRF. With all of the equipment and fuel for the trial now in Morocco, we will be in a position to commence the trial very rapidly, once we are able to access the client's site."
By Tapan Panchal; tapanpanchal@alliancenews.com
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