LONDON (Alliance News) - Emulsion fuels supplier Quadrise Fuels International PLC on Thursday said it has started shipments of equipment under its marine programme agreed in September last year.
Quadrise signed a deal in September to start trialling its MSAR fuel technology with Danish shipping giant AP Moller-Maersk AS and refiner CEPSA. The agreement covers the supply, installation and commissioning of a manufacturing unit to produce MSAR emulsion fuel at the CEPSA San Rogue refinery near Gilbraltar.
The company's MSAR emulsion fuel oil product uses water to turn heavy oil into a low viscosity fuel which has enhanced combustion features.
On Thursday, Quadrise said equipment has been shipped to the CEPSA refinery, while civil works have started on installing a manufacturing unit at the site.
Installation and commissioning of the project remain on track for the first half of 2016.
Quadrise shares were up 9.1% to 15.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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