Quadrise Fuels International plc provide an update on the Marine Fuels and Saudi Arabian programmes. In addition the Company announces that an agreement has been signed with ENH Engineering A/S (ENH) to purchase up to two proprietary MSAR Manufacturing Units (MMUs) designed for the processing of refinery heavy residues and production of MSAR fuel emulsions. ENH is a supplier of high quality bitumen emulsion manufacturing plant to the international refining and asphalt industries.
With the initial objective of having the plant installed and assured fuel availability by end Q1 2015, Quadrise and Maersk have been working together to both select a refinery and execute agreements for the supply of Marine MSAR fuels by end 2014. Whilst discussions are advancing, it is now considered unlikely that contractual terms can be finalised and contracts executed until Q1 2015. As a consequence, commercial fuel production may now only start in Q2 2015.