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TIDMQFI
RNS Number : 7355M
Quadrise Fuels International PLC
23 September 2021
23 September 2021
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")
Utah Project Update
Quadrise, the supplier of MSAR(R) and bioMSAR(TM) emulsion technology and fuels, the low-cost, cleaner alternatives to heavy fuel oil and biofuels, is pleased to provide an update on the testing of a produced oil sample taken from the Petroteq Oil Sands Plant ("POSP") from the Greenfield Energy LLC's ("Greenfield") Utah operations team.
An extensive programme of testing on the Greenfield oil sample was completed at the Quadrise Research Facility ("QRF") in Essex on schedule.
The testing programme at QRF has confirmed the ability to produce commercial MSAR(R) and bioMSAR(TM) fuels from the sample of heavy sweet oil provided and a report of the testing results has now been issued to the client. Simulations of storage and handling of both MSAR(R) and bioMSAR(TM) produced were also completed during the programme which indicate that commercial production of MSAR(R) and bioMSAR(TM) fuels would be possible in Utah for potential power and marine end-user applications domestically and internationally.
This testing programme concludes the Proof-of-Concept work that was scheduled in Phase 1 of the Commercial Trial Agreement announced on 18 August 2020 and Quadrise and Greenfield are now in discussions regarding potential future trials and deployment of the technology to produce MSAR(R) and/or bioMSAR(TM) fuel at commercial scale.
Further announcements will be made, as appropriate, in due course.
Jason Miles, CEO of Quadrise, said:
"We are pleased to have completed the testing and analysis work during August as scheduled and to be reporting the positive results to Greenfield. We look forward to updating Quadrise shareholders in due course as to the next steps for this exciting low-sulphur MSAR(R) and bioMSAR(TM) opportunity in Utah, once agreed with Greenfield and their strategic partners."
Nice result. Now for the funding. Perhaps that’s why rise yesterday
Ballot box with checkQuadrise and Greenfield are now in discussions regarding potential future trials and deployment of the technology to produce #MSAR and/or #bioMSAR fuel at commercial scale.
Public address loudspeakerFurther announcements will be made, as appropriate, in due course.
#QFI $QFI #alternativefuels
Great stuff that’s what we need too know!
“ability to produce commercial MSAR® and bioMSAR™ fuels from the sample of heavy sweet oil“
So do TOM also have to RNS this as it is price sensitive?
Now take that too the fundraiser commercial that’s what they want too hear, not long for this now!
It is great another part of jigsaw coming together now… strange how someone always knows .. hence the rise yesterday… bring on Utah and we will re rate massively imo
We are due some figures on the Utah site, this could make it a hole lot better, they might Rns the two together
Forgive me lack of knowledge guys, but I was wondering with this MSAR system, whether a company will be able to order the quality of fuel that they require? I am sure you Quadrise guys will probably know. Thiago.
Fantastic news,,, the star’s are starting to a-line…….. hold on tight for the ride of a lifetime..
We look forward to updating Quadrise shareholders in due course as to the next steps for this exciting low-sulphur MSAR(R) and bioMSAR(TM) opportunity in Utah, once agreed with Greenfield and their strategic partners."
What strategic partners would they be? Not aware of anyone else in the loop at present but implies partners in play?
TIDMTOM
RNS Number : 6878M
TomCo Energy PLC
23 September 2021
23 September 2021
TOMCO ENERGY PLC
("TomCo" or the "Company")
Quadrise Testing Update
TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to note the announcement made earlier today by Quadrise Fuels International plc ("Quadrise") providing an update on its testing of a produced oil sample supplied by TomCo's 100% owned subsidiary Greenfield Energy LLC ("Greenfield") taken from the Petroteq Oil Sands Plant ("POSP") during Greenfield's operation of the POSP.
Quadrise has reported that an extensive programme of testing on the Greenfield oil sample was completed at the Quadrise Research Facility ("QRF") in Essex on schedule, and a report has now been issued to Greenfield.
Quadrise noted that the ability to produce commercial MSAR(R) and bioMSAR(TM) fuels from the produced oil has been confirmed from its testing. Simulations of storage and handling of both fuels were also completed during the programme. The testing at the QRF confirmed the suitability of the heavy sweet oil for the commercial production of MSAR(R) and bioMSAR(TM) fuels in Utah for potential power and marine end-user applications domestically and internationally.
Quadrise further noted that this testing concludes the proof-of-concept work that was scheduled in Phase 1 of the Commercial Trial Agreement between Greenfield and Quadrise announced on 18 August 2020. TomCo will now review the report and it is expected that Greenfield and Quadrise will enter into discussions regarding potential future trials and deployment of the technology to produce MSAR(R) and/or bioMSAR(TM) fuel at a commercial scale.
Commenting, John Potter, CEO of TomCo, said : "We are delighted that Quadrise has now completed its testing programme. We are encouraged by the positive confirmations issued by Quadrise today and we look forward to continuing to work with Quadrise as we progress our plans for Greenfield.
Strategic partners will include PQE and Valkor to start with. Will be interesting to see who is on the financial / investment side.
I doubt if it will be PQE. Valkor, Yes.
My own opinion,,,,, can’t help but think that funding has been agreed and will announced shortly..
Good news as expected - I think it is $6MM for a 10kbbl/d MSAR plant so if they can get anywhere near HFO prices it will be more than a worthwhile investment. As others have stated it's another box ticked.