Quadrise plc provided an update covering progress on its key projects. Marine The expected bilateral agreements between MSC and Cargill, and Cargill and Quadrise, to initiate the commercial-scale marine trials are now in near final form and are expected to be concluded soon. Following signature, the trial equipment will be installed and commissioned at the MAC 2 site in Antwerp, ahead of the commercial-scale marine trials commencing in Third Quarter 2025.
Quadrise continues to make strong progress in building strategic partnerships with additional potential customers, aimed at accelerating the commercialisation of bioMSAR?? and MSAR®?. The Company intends to utilise its facilities at MAC 2 to service these opportunities, as well as establishing similar supply points in other major marine bunker hubs.
Morocco The planned commercial trial with OCP to establish MSAR®? supply in the Mediterranean continues to progress. Following relocation to an alternative production line and associated kiln by OCP, the Company has deployed all necessary trial equipment to site.
To commence the 30-day paid trial, Quadrise is awaiting approval from the original equipment manufacturer of the kiln and burner system ("OEM"), which is expected to be received in Third Quarter 2025, with the trial commencing immediately thereafter. In parallel, Quadrise and the OEM are exploring potential collaboration opportunities with other industrial clients. Americas In Panama, excellent progress continues to be made for trial with Sparkle Power SA.
Trial equipment and chemicals have been shipped to site, with the trial now expected to start during Third Quarter 2025. This will be the first test for Quadrise on a MAN 4-stroke diesel engine, expanding application experience with this significant engine manufacturer. A successful trial would be expected by the Company to lead to a Fuel Supply Agreement with a supplier and to facilitate discussions with other regional power producers.
US Low Carbon Fuels: Quadrise is now awaiting delivery of a new batch of oil samples from Valkor's Primary Project Site ('PPS') at Asphalt Ridge, Utah, USA as the previous samples tested were deemed unrepresentative of Valkor's expected final oil output. Once testing of these samples has been positively concluded, marketing of MSAR®? and bioMSARTM fuels in the USA can then commence.
Quadrise now expects to deliver a smaller 600bpd Multifuel Manufacturing Unit ("MMU") to the PPS in Third Quarter 2025, With the USD 75,000 per quarter technology transfer fee payable by Valkor to Quadrise commencing from the date of delivery. bioMSAR?? and bioMSAR??
Zero development: Quadrise continues to advance several joint development and commercial discussions and testing with potential partners and customers to deliver cleaner fuels at a lower cost than alternatives.
