Marine fuel oil emulsification technology firm Quadrise Fuels International (QFI) on Monday (12 August) signed a Memorandum of Agreement (MOA) with an unnamed European oil refiner that is part of an international integrated oil and gas company.
Under the MOA, Quadrise and the counterparty will work together to evaluate and develop, through a structured evaluation process, a potential MSAR® project at one of the counterparty's refineries.
The MOA covers the proof of concept and scoping phases, with subsequent phases once defined, such as feasibility, application testing, trial and commercial implementation being covered by specific agreements, as required, in due course.
Under the MOA, Quadrise will continue to test specific refinery residue samples as provided, at Quadrise Research Facility, UK, during the third quarter of 2019, with early stage work on the residues received having already commenced.
“We are pleased to sign this MOA and we look forward to jointly developing the project to maturity and delivering on the substantial economic and environmental benefits that MSAR® can provide,” said Mike Kirk, Executive Chairman of QFI.
Related: Quadrise Fuels seeks funding to continue operations beyond October
Related: Quadrise raises US $1.97 million in open offer, avoids wind down
Related: Quadrise may conduct ‘orderly winding down’ if latest Open Offer unsuccessful
Related: Quadrise Fuels enter MOU and pilot test programme for MSAR fuel
Related: Quadrise fuel emulsification projects suffer $4.32 million loss
Related: Quadrise: Economics for MSAR projects to improve with IMO 2020
Related: Quadrise: Marine fuel emulsification markets ‘positive’
Related: Quadrise emulsified fuel oil project suffers setback
Photo credit: Quadrise Fuels International
Published: 14 August, 2019
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