Americas News
Synthetic Fuel Firm Targets Central & South America
Quadrise Fuels International plc [LON:QFI] (Quadrise), a developer of synthetic marine fuel oil, says its wholly-owned subsidiary has signed a memorandum of understanding (MOU) with two companies for the development of business opportunities in South and Central America.
The MOU, between Quadrise International Limited (QIL), Colombian oil major Ecopetrol S.A. [NYSE:EC] (Ecopetrol), and U.S. technical consulting firm Nexidea Inc., calls for the parties to work together to identify and assess potential opportunities for Quadrise's synthetic fuel, MSAR, in the region.
"We are delighted to be working with Ecopetrol to create business opportunities for MSAR fuels with them in their region," said Quadrise Chairman Ian Williams.
"Quadrise is appreciative of the professionalism and enthusiasm demonstrated by Ecopetrol management in our cooperation to date, and is keen and prepared to move forward promptly with the joint programme scoped out under the MOU."
Quadrise said in March that the company was planning to start supplying early commercial volumes in the second half of 2013 and fully roll out commercial sales in early 2014.
