Business
Update on Progress
Update on Progress.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 3108J Quadrise Fuels International PLC 29 June 2011 \n \n\n28 June 2011\n \nQuadrise Fuels International Plc (\"QFI\" or \"Quadrise\" or the \"Company\")\n \nUpdate on Progress\n \nQuadrise announces a progress report on key programmes directly managed by Quadrise International Limited (\"QIL\"), a 100% subsidiary of QFI. \n \nThe business of QIL is the manufacture and supply of Quadrise MSAR® emulsion fuel as a low cost replacement for conventional fuel oil in refining operations, steam and power generation and the international marine bunker fuels market.\n \nFuel oil consumption represents one of the largest liquid fuels markets at a global level - more than 600 million tons per annum. The QIL programmes are directed at developing selective sectors in association with major industry partners to build secure, diverse and profitable outlets for MSAR® fuels.\n \nThe 'select and focus' strategy continues to guide management who are making progress on all key projects in association with blue chip business partners and future customers. All projects feature the application of Quadrise MSAR® emulsion fuels technology but differ geographically and in product application. All involve substitution of existing fuel oil by Quadrise MSAR®.\n \nThe introduction of new fuels into major markets is a significant undertaking. Success in the medium term is dependent on competitive economics, customer satisfaction and the highest standards of quality control in early conversion applications. The QIL team has unique experience in this regard.\n \nMarine Fuels - A.P.Møller-Maersk\n \nThe joint development programme (involving QIL, A.P.Møller-Maersk and AkzoNobel) is moving rapidly to the commercial test phase. A key feature of the programme is the production of a stable emulsion fuel manufactured from different oil refinery heavy residues, with fuel properties that substantially eliminate the need for any marine engine modifications.\n \nA number of extensive land-based marine engine tests have been completed, with final testing scheduled to be concluded in the coming months.\n \nCommercial negotiations are near completion with European oil refiners for the installation of manufacturing facilities to produce Marine MSAR® for a sea-based tri...