Quadrise PLC (AIM:QED) told investors that it is in the process of finalising a binding agreement with MSC and Cargill for the upcoming vessel trials on the MSC Leandra.
Once the project agreement is signed, Quadrise's equipment will be installed and commissioned at the MAC² facility.
The MAC² facility has already received the necessary operating permits and has completed the site preparations.
So, installation can proceed swiftly upon the agreement's conclusion.
"We continue to have regular contact with MSC and other project counterparties and are preparing for installation of our equipment to commence as soon as the agreement is signed," chief executive Jason Miles said in a statement.