Quadrise PLC shares rose on Wednesday, after it announced the successful completion of industrial demonstration tests at its client’s site in Morocco.

Shares in the residual oil technology company were up 27% at 1.50 pence in London on Wednesday afternoon.

Quadrise announced the successful completion of industrial demonstration tests of its MSAR and bioMSAR fuels at its client’s site in Morocco.

It said emissions from the combustion of the fuels were ‘very low, and well within environmental limits for the site’.

It was the first demonstration of bioMSAR for an industrial application. This was the first demonstration of bioMSAR in an industrial application.

Quadrise said that it is now preparing a technical report to submit to the client within the next month.

Further, the company and its client will enter talks about long-term commercial supply, as well as further testing a client’s other sites.

‘We’re delighted to have finally completed this commercial-scale trial in Morocco, which has demonstrated the stability and performance of both MSAR and bioMSAR in one of the client’s major facilities,’ said Chief Executive Jason Miles.

‘We would like to especially thank the client and our shareholders for their continued support in achieving this positive outcome, and we look forward to discussing commercial supply and applications in other major facilities with the client.’

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