In discussion with Proactive's Stephen Gunnion, Quadrise PLC (AIM:QED) CEO Jason Miles provided an update on the company's advancements in biofuel technology, particularly highlighting the successful fuel trial in Morocco and various other significant projects that underscore the company's commitment to sustainable fuel solutions.
Stephen Gunnion (SG): Jason, it's great to have you here. Could you update us on Quadrise's recent fuel trial in Morocco?
Jason Miles (JM): Absolutely, Stephen. We're thrilled to have completed the trial in Morocco, meeting our performance criteria. The industrial unit we tested is a significant fuel consumer, similar to a large container ship. The trial validated that our MSAR and bioMSAR fuels can effectively substitute conventional fuels, meeting stringent emission standards and reducing CO2 emissions by over 25%. Both fuels demonstrated excellent stability, lasting over 12 months.
SG: How significant is the Morocco trial for Quadrise?
JM: It's a milestone. This was the first large-scale commercial demonstration of bioMSAR in a thermal burner application. The trial went smoothly, showing that our fuels can seamlessly switch at load and restart with bioMSAR, maintaining near-identical load conditions. This success proves our fuel's suitability for large thermal applications and for those aiming to significantly cut CO2 emissions.
SG: What's next for Quadrise in this project?
JM: We're preparing a technical report for our client and discussing potential EMSA supply starting in 2024. We're also exploring commercial trials of MSAR and bioMSAR at other client sites, including Site A, one of their largest fuel consumers.
SG: How are Quadrise's other projects and energy decarbonization initiatives progressing?
JM: Thanks for asking. We're gearing up for a commercial vessel trial with MSC in 2024, which could lead to commercial supply and engine manufacturer approvals.
In the US, we're anticipating drilling permits and project financing with Valco. We're also exploring strategic partnerships to accelerate biofuel development and have ongoing initiatives in biofuel and net-zero fuel testing with our commercial partners. There's certainly a lot happening, and we're excited to share updates soon.
SG: It sounds like Quadrise is making significant strides in sustainable fuel technology. We look forward to hearing more about your progress. Thanks for the update, Jason.