Edison Investment Research Limited 
Quadrise Fuels International (QFI): The clean solution to a global problem 
 
24-Nov-2020 / 08:00 GMT/BST 
 
                                                London, UK, 24 November 2020 
 
 Quadrise Fuels International (QFI): The clean solution to a global problem 
 
Quadrise has developed a synthetic heavy fuel oil technology that 
potentially improves the profitability of refineries producing heavy fuel 
oil (HFO) and upstream operations, as well as reducing costs and polluting 
emissions for HFO users in the power, industrial and marine bunker markets. 
The company has recently completed a pilot trial in Morocco, with a trial at 
a US site scheduled for completion in calendar Q121. These trials are to 
demonstrate the efficacy of MSAR ahead of potential progression to 
commercial supply in calendar H221. It is also in discussions about projects 
in Ecuador, Mexico and Saudi Arabia and with two major shipping companies. 
 
Based on data from the company, our scenario analysis calculates that even 
modest adoption of MSAR would generate material profits. A single refinery 
producing MSAR equivalent to 1.9Mtpa HFO under a licensing model would 
generate $15.9m in annual EBITDA (see page 13 for more details). 
 
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1150046 24-Nov-2020 
 
 
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(END) Dow Jones Newswires

November 24, 2020 03:00 ET (08:00 GMT)