The share price of Quadrise Fuels International (QFI) was up by a fifth to 38p after Danish shipping giant Maersk confirmed that the emulsion fuel oil alternative (Marine) MSAR had satisfied 'proof of concept' requirements. It effectively clears the way for the commercial phase of development.
A series of seaborne service tests with Wartsila was successfully completed in early June. The Finnish marine engine manufacturer confirmed that MSAR delivered good engine and emissions performance. A separate seaborne test currently under way with German engineer MAN AG is expected to complete by the end of this month, but it has delivered positive results thus far.
Things at sea are moving ahead more briskly than those on land. Quadrise also confirmed that it has submitted a formal proposal to install a commercial demonstration plant in a refinery in Saudi Arabia, although the timing will be subject to an internal budget review carried out by an unnamed client - presumably Saudi Aramco.
