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Quadrise PLC on Tuesday said it signed a commercial framework agreement with the Moroccan state-owned phosphate miner OCP SA. The London-based energy technology company and supplier of MSAR emulsion technology fuel, which reduces energy costs and emissions, said the agreement relates to OCP’s Jorf Lasfar processing plant. Quadrise and OCP will immediately start work to identify, and then enter discussions with commercial supply partners who have the capacity to produce MSAR to meet OCP’s requirements. Quadrise will also update a technical, economic and feasibility study issued in June 2022 to convert the site for the consumption of MSAR. The company will further supply and install equipment that will be used to emulsify locally available heavy fuels using MSAR technology, and then begin a 30-day combustion trial. Execution of the agreement is conditional on successful trial results. Chief Executive Officer Jason Miles commented: ‘We are delighted to be progressing towards the commercialisation of our technology with OCP, who are world leader in their sector. This agreement provides a clear pathway to long term commercial revenues and an opportunity to create a supply point for our fuels in the Mediterranean.’ Quadrise shares were up 11% to 1.64 pence each in London on Tuesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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