What we just got is very interesting and a real step forward.
Today’s RNS details a MOA with a specific refiner that is part of our EOM that we hold a previously announced MOU with.
That is a definite elevation of responsibility for this and must surely mean that things are expected to move on!
Memorandum of Agreement with a European Oil Refiner
“Quadrise is pleased to announce it has signed a Memorandum of Agreement (“MOA”) with a European oil refiner that is part of an international integrated oil and gas company.
Under the MOA, Quadrise and the counterparty will work together to evaluate and develop, through a structured evaluation process, a potential MSAR® project at one of the counterparty’s refineries. The MOA covers the proof of concept and scoping phases, with subsequent phases once defined, such as feasibility, application testing, trial and commercial implementation being covered by specific agreements, as required, in due course.
Under the MOA, Quadrise will continue to test specific refinery residue samples as provided, at Quadrise Research Facility, UK, during the third quarter of 2019, with early stage work on the residues received having already commenced.
Commenting on this development Mike Kirk, Executive Chairman of QFI, said:
"We are pleased to sign this MOA and we look forward to jointly developing the project to maturity and delivering on the substantial economic and environmental benefits that MSAR® can provide. “