Quadrise Fuels International (GB:QED) has released an update.
Quadrise Fuels International has announced a significant advancement in its Utah project with Valkor Technologies, as drilling for heavy sweet oil is set to commence, with commercial marketing of low sulphur MSAR® and bioMSAR™ fuels expected before the end of Q2 2024. The initial drilling funded for 3-4 wells aims to complete full financing by mid-2024, and a successful operation could lead to a $1.5 million payment to Quadrise under their agreement. The collaboration is set to produce environmentally friendly low sulphur fuels, enhancing Quadrise’s portfolio of energy decarbonization solutions.
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