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IN BRIEF: Quadrise Fuels Work Progressing In Utah, Morocco

Tue, 02nd Feb 2021 19:08

Quadrise Fuels International PLC - London-based fuel conversion technology firm - Says work continues on the phase 2 study at one of its client's industrial facilities in Morocco and planning and preparations for the larger industrial-scale trial at another client's facilities, with engineering and planning meetings taking place as required remotely. The purpose of the industrial trial is to de-risk commercial roll-out and fast-track the phase 2 commercial trial, which is similar in scale and will utilise the same Quadrise MSAR trial equipment. Trial expected to start in second quarter of 2021.

In Utah, still awaiting the receipt of oil samples at QRF from Greenfield Energy as their programme for the start-up and commissioning of the Petroteq oil sands plant at the Asphalt Ridge facility. Work was delayed, but still progressing.

Chair Mike Kirk says: "We are pleased that positive momentum has been maintained on our projects in Morocco and Utah. In Morocco, our proactive approach to managing risks and timelines has paid dividends throughout 2020 and into 2021, and our client remains very supportive and keen for the remaining trials to progress at pace.

"In Utah, we front-loaded the preparation for the MMU and associated systems which are ready to ship to site at Greenfield's request, with the confirmatory sample testing being used to refine the additive package for the production trial. The first half of 2021 will be very busy for Quadrise, and we look forward to demonstrating strong progress across all of our active projects, including the recently announced JDA with MSC to enable the planning for the operational trial in 2021 and the continued development and testing of our exciting new bio/renewable fuel, bioMSAR."

Current stock price: 3.10 pence

Year-to-date change: up 39%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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