RE: Maritime Agreement14 Apr 2025 12:19
This agreement confirms there will be a long term viable market for more expensive lower carbon fuels, a major obstacle for suppliers and developers of lower carbon ingredients. In the short to medium term biofuels will fill this space as intended by the IMO until other options become commercially available.
However as we know standard MSAR is compliant until 2035 I think, providing an immediate drop-in solution come 2028, with biomsar taking it on from there Though MSAR can still have a huge role in reducing the penalties owed well beyond as it takes time to ramp up production of lower carbon options. Without this agreement, use of lower carbon alternatives would remained merely an option for a select few large shipping companies for PR purposes. As of 2028 it becomes reality for all.
Quadrise offers the perfect drop-in alternative and if all goes even remotely to plan, we should have two solutions available by 2028 initially for MSC, but eventually the wider market as commercial supply ramps up and further low carbon ingredients become available.
Given this backdrop, confirmation of PoC start and agreements signed should kick-start our route to commercial success, eventually on a Global scale.