Quadrise PLC on Wednesday hailed results from its bioMSAR fuel testing, reporting reduced carbon dioxide emissions.
Quadrise shares jumped 14% to 2.77 pence each on Wednesday morning in London.
The London-based residual oil technology company said its bioMSAR blends containing Vertoro BV’s crude sugar oil reduced carbon dioxide emissions by over 30% when considering increased engine efficiency of up to 7%.
Vertoro BV is a Geleen, Netherlands-based biotechnology company, with whom Quadrise collaborates to develop an alternative to glycerine in bioMSAR fuel under the joint development agreement announced in September 2022.
Further, new bioMSAR formulations incorporating biofuels containing waste-based methyl esters showed an over 45% reduction in carbon dioxide emissions and increase engine efficiency by up to 7%.
Quadrise Chief Executive Officer Jason Miles said: ‘These test results demonstrate that our flexible MSAR® technology platform can produce fuels which can be marketed at scale to the marine and industrial sectors using existing bunkering infrastructure. This will aid these sectors in meeting their climate targets while maintaining vessel operating life. Quadrise and our commercial partners are excited by these results and we look forward to progressing the testing programme to the next stages, with the intention upon successful testing to offer our first fossil-free bioMSAR Zero product at commercial scale in advance of 2030.’
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