LONDON (Alliance News) - Quadrise Fuels International PLC, a producer of synthetic heavy fuel oil, said Friday it is working with Freepoint Commodities LLC to agree and prioritise "specific target projects".
Shares in the company were trading down 4.7% at 3.38 pence each.
Last week, the company said it signed a memorandum of understanding with Freepoint Commodities LLC.
Under the memorandum of understanding, during the next 24 months Quadrise and Freepoint "plan to jointly investigate and pursue selected MSAR project opportunities".
The companies will work across all business segments in Asia and in the Americas.
MSAR emulsion technology and fuels is a low-cost alternative to heavy fuel oil supplied by Quadrise.
