Alternative Fuels

Quadrise Plc gives 2023 overview and updates on low-carbon bunker fuel projects

Structured process is now underway to seek commercial partners that would allow firm to be able to quickly scale up in preparation for the expected growth of MSAR® and bioMSAR™ sales, says Quadrise.

Published

1 year ago

November 28, 2023

Admin

MSAR® and bioMSAR™ emulsion technology and fuels supplier Quadrise on Monday (27 November) provided an update ahead of the Company's Annual General Meeting (AGM).

The firm said it recently published a 2023 sustainability report setting out its efforts to address demand for solutions to decarbonise shipping, and to build capacity for the supply of our low-carbon fuels in the US.

In advance of the anticipated developments outlined below, a formal process is now underway to seek commercial partners in both the marine and US-focused low-carbon fuel markets who would be able to contribute the resources necessary to scale up growth rapidly once trials have been completed.

“In this regard, we have also been particularly heartened by the success of bioMSAR™ in Morocco, as announced on 22 November 2023, demonstrating the viability of bioMSAR™ in an industrial application,” it said.

Building on this, there has been considerable RDI progress at the Quadrise Research Facility (QRF) with commercial partners to develop bioMSAR™ formulations using lower cost, lower-carbon, and globally abundant biomass-derived sugars produced using various technologies.

“This is a clear pointer to the future for the company as the need for commercially competitive net-zero fuel solutions grows in urgency,” it said in a statement.

The Company's progress in each of its key projects towards their next stages is described below:

Morocco: The industrial demonstration test of MSAR® and bioMSAR™ fuels at the client's site in Morocco was successfully completed, as announced on 22 November 2023. This was the first demonstration of bioMSAR™ in a commercial application and Quadrise is now preparing a technical report to submit to the client within the next month. The parties now look forward to entering into discussions for long-term commercial supply in conjunction with reaching an agreement for testing at other client sites to expand supply opportunities for MSAR®, and in the future, bioMSAR™ fuels.

Marine: Agreements with project stakeholders covering the Proof-of-Concept and Letter Of No Objection (LONO) commercial trials on bioMSAR™ with MSC Shipmanagement (MSC) are expected to be concluded in December 2023. The agreements cover trial fuel production, supply, and logistics. Provided these and the relevant permits are concluded in time, Quadrise equipment will be installed and commissioned at the bunker terminal in Q1 2024, with the intention to commence the trials in early Q2 2024, in accordance with the latest vessel schedule shared by MSC recently.

US low carbon fuels: Quadrise understands that Valkor Technologies LLC (Valkor) expects to conclude drilling permits and project ﬁnancing relating to their primary project site in Utah by the end of the calendar year 2023. Provided a minimum of US$15 million is successfully raised by Valkor, under the terms of the Site License and Supply Agreement signed in June 2023, Valkor will pay Quadrise an initial US$1.0 million licence fee and a further US$0.5 million upon delivery of an MSAR® Manufacturing Unit to the project site in Utah.

bioMSAR™ development: As described in the overview above, during FY23 and since the period end, work has been progressing at the QRF in conjunction with commercial partners Vertoro BV and BTG Bioliquids BV, as well as with other prospective partners, to develop bioMSAR™ formulations made using biomass-derived sugars. These are a lower cost and more globally abundant future alternative to glycerine and would enable a lower cost, lower carbon biofuel alternative to be produced which could then be marketed at scale to the marine and industrial sectors. Discussions have been progressing with other stakeholders in this renewable sector.

In November 2023, diesel engine testing was completed at Aquafuel on blends of bioMSAR™ containing 20% to 40% of Vertoro's crude sugar oil (CSO™). The testing demonstrated improved engine efficiency and lower Nitrogen oxide ("NOx") and particulate emissions upon combustion when compared to conventional diesel. Quadrise and Vertoro are now discussing the next steps toward commercialisation of the CSO™ bioMSAR™ blends. Aquafuel tests were also completed using blends of marine B30 biofuels containing FAME in MSAR® and bioMSAR™ to assess engine efficiency and emissions improvements, both of which were positive and a further step towards bioMSAR™ Zero.

Jason Miles, Chief Executive Officer of QED, said: "During 2023, we have continued to make progress with each of our key projects as well as with our work to supply bioMSAR™ at commercial scale and develop lower carbon biofuel alternatives using biomass derived sugars. We were particularly pleased to note the first commercial scale demonstration of bioMSAR in Morocco, where the client's industrial unit was successfully operated at varying loads of up to 100%, equivalent to the energy consumption of a medium-sized container ship.

The progress made in Morocco is vitally important to the Company as we look to progress to commercial supply there and to commence marine trials on board the MSC Leandra in H1 2024. Preparations for the MSC trials are now underway, with agreements expected to be signed by year-end. In addition, the Company expects to deliver commercial revenues from Valkor in the near future upon successful closure of Valkor's project financing.

The progress at QRF and Aquafuel with commercial partners to develop and trial bioMSAR™ formulations using cheaper and globally abundant biomass derived sugars provides a clear pointer to the future for the Company, since a lower carbon biofuel alternative will be demanded by the marine and industrial sectors.

To prepare for the expected growth of MSAR® and bioMSAR™ sales, a structured process is now underway to seek commercial partners that would allow the Company to be able to quickly scale up once the key project milestones have been met and we look forward to updating shareholders on this exercise in due course."

Photo credit: CHUTTERSNAP from Unsplash
Published: 28 November, 2023

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UPA, Korea’s port operator for energy and petrochemical logistics, emphasised its strategic role in building a stable marine biofuel supply chain aligned with tightening global regulations.

UPA's Director Byeong-gu Kim unveiled comprehensive plans to promote marine biofuel adoption centered on Ulsan Port at a recent biofuel forum in Seoul, highlighting the port's strategic advantages including its world-class petrochemical infrastructure, extensive storage facilities, and specialised handling expertise.

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The 2nd Forum on the Commercialisation of Biofuels for Maritime Vessels, hosted by the Ministry of Oceans and Fisheries and co-organized by UPA and KMC, drew around 300 key stakeholders from across the shipping, energy, terminal, shipbuilding, and finance sectors.

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Photo credit: Ulsan Port Authority
Published: 25 April, 2025

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Photo credit: Solutions for Our Climate
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The trial demonstrated that MASH Makes’ biofuel is technically a drop-in fuel, compatible with existing systems and capable of reducing reliance on fossil fuels in specific marine applications.

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