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Quadrise Fuels International PLC - London-based residual oil technology licensor - Signs new material transfer and cooperation agreement with an unnamed client in Morocco, superseding the original agreement signed on November 2019.
The terms of the new agreement has Quadrise manufacturing trial quantities of MSAR and bioMSAR for the purpose of an industrial demonstration test at one of the client's sites. Quadrise will then provide the client with a report on the efficacy of using the alternative fuels, and then enter discussions for a potential commercial supply of both products.
The demonstration test and feasibility study covered by the agreement will occur concurrently, with completion expected in the third quarter of 2022, and lasts for one year.
Current stock price: 1.75 pence
12-month change: down 58%
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