Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) expects recent delays to its bioMSAR trials in Morocco to be overcome shortly and works to start once the MSAR fuel, now at customs, has been cleared.
“The remaining logistical issues will be resolved this month so that the trial can then proceed as planned,” the alternative diesel fuel developer said in a statement, with a commercial fuel supply agreement likely to be agreed in the first half of 2023 as planned.
Elsewhere, commercial discussions for the supply of a licence and manufacturing unit to enable Valkor to produce MSAR and bioMSAR fuels are progressing well, the statement added, with this quarter scheduled for a definitive agreement.
Shipping group MSC's Proof of Concept and Letter of No Objection trials are now scheduled for the second quarter of 2023, with discussions underway with third-party suppliers over additional trials.
In Italy, Quadrise said Wärtsilä is now finalising the test reports which will be available this quarter while Vertoro continues to assess whether crude sugar oils can be an alternative biofuel feedstock for bioMSAR.
Jason Miles, chief executive, added: "Whilst we are frustrated with the delays that we have faced in progressing some of our projects, we remain confident that these will be overcome soon.
“The team has worked extremely diligently to seek to navigate these challenges such that the impact on the delivery of our projects should be minimal.”