Quadrise Fuels International - Progress on bioMSAR development
Quadrise made significant advances in the development of bioMSAR, its biofuel variant of MSAR during H122. However, progress on the three key trial programmes with potential customers was slower than management had expected because of factors outside the company’s control. Nevertheless, management notes that Quadrise has the cash resources to progress the ongoing trial programmes to revenue generation, which it expects will commence in calendar H222 (CY H222), subject to the successful conclusion of commercial project agreements.Quadrise Fuels International is engaged in developing markets for its proprietary emulsion fuel (MSAR®) as a low cost substitute for a conventional heavy fuel oil for use in power generation plants and industrial and marine diesel engines. Co. and its subsidiaries manufacture and market emulsion fuel for use in power generation, industrial and marine diesel engines and steam generation applications.
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