Quadrise Fules RNS5 Oct 2020 08:08
Following the signing of the MoU with Valkor Technologies LLC ("Valkor") during Q1 2020, rapid progress has been made with a Commercial Trial Agreement ("CTA") with Greenfield Energy LLC ("Greenfield", a joint venture between Valkor and Tomco Energy plc), signed on 18 August 2020. Plans are now progressing for Quadrise to undertake the trial at the Asphalt Ridge site (managed by Greenfield) in Utah, USA. Preparatory work on the trial MSAR(R) Manufacturing Unit ("MMU") has commenced and plans are being finalised for Quadrise personnel to access the Asphalt Ridge facility to install our plant during early December 2020, subject to being able to comply with any relevant travel restrictions. Commencement of the Utah MSAR(R) trial before year-end is reliant on Quadrise Research Facility ("QRF") confirming the required MSAR(R) formulation from the Asphalt Ridge oil samples to be supplied during the planned November 2020 start-up.