Quadrise Plc (LSE:QED) has reported progress on its fuel development project with Valkor Technologies in Utah, following the successful formulation of MSAR® and bioMSAR™ emulsions using a heavy sweet oil sample obtained from Valkor’s pilot plant.
The company confirmed that it had received a representative oil sample from the Asphalt Ridge project and completed initial formulation work using its proprietary fuel technologies. Further optimisation activities are scheduled for the fourth quarter of 2026.
Quadrise and Valkor are also preparing joint marketing activities for MSAR® and bioMSAR™ fuels in Utah as the project moves towards its planned production phase.
Valkor is continuing drilling and site installation activities at its Asphalt Ridge oil sands pilot plant, with first oil production currently targeted for the first quarter of 2027.
Under the existing site licence arrangements, Valkor has an outstanding payment balance of US$950,000 payable to Quadrise.
Valkor expects to make a payment of US$300,000 by the end of October 2026, with the remaining US$650,000 scheduled to become payable following completion of project financing, which is anticipated during the fourth quarter of 2026.
The timing of the final payment therefore remains dependent on Valkor securing the necessary financing.
Quadrise is continuing preparations for the deployment of its Multifuel Manufacturing Unit (MMU), which has a processing capacity of 600 barrels per day, together with associated equipment required for operations at the Utah site.
The company plans to arrange shipment and mobilisation of the manufacturing equipment once the outstanding site licence fees have been received in full.
The planned installation would provide on-site manufacturing capacity for Quadrise’s emulsion fuel products using oil produced from Valkor’s Asphalt Ridge operations.
The project remains subject to completion of the outstanding licence payments, equipment deployment and Valkor’s ongoing site development programme.
Quadrise’s immediate activities include further fuel formulation optimisation, preparations for equipment mobilisation and coordination with Valkor on the proposed commercial marketing of MSAR® and bioMSAR™ in Utah.
About Quadrise Plc
Quadrise Plc (LSE:QED) is an AIM-listed energy technology company developing and commercialising emulsion fuel products for industrial and marine applications.
Its proprietary technologies include MSAR®, an oil-in-water emulsion fuel, and bioMSAR™, a biofuel formulation intended for use in sectors including shipping, power generation, refining and heavy industry.
The company develops fuel alternatives designed to reduce energy costs and emissions compared with conventional fuels, subject to the operating conditions and applications involved.
Quadrise works with commercial and industrial partners to evaluate, manufacture and deploy its fuel technologies across international markets.
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