EMEA News
Quadrise Teams Up With Cargill For Emulsion Bunker Fuel Production
Emulsion fuel technology firm Quadrise is set to work with Cargill and MAC2 Solutions NV on the production of its MSAR and bioMSAR fuels ahead of marine trials.
The three companies have signed a collaboration agreement setting out plans to install and commission Quadrise equipment at the MAC2 facility in Antwerp, Quadrise said in an emailed statement on Tuesday. The move comes ahead of trials of MSAR and bioMSAR on the MSC Leandra slated for the second quarter of this year.
Quadrise uses its MSAR technology to emulsify bunker fuels with water, producing a fuel with lower emissions by mass. The firm's bioMSAR process works on a similar principle, but with bio-feedstocks added to deliver further GHG savings.
Under the new deal Cargill will supply feedstocks and carry out bunkering operations to supply the fuels used in the trials.
Once the trial is completed and a long-term supply agreement is signed, the deal envisages Cargill supplying MSAR and bioMSAR bunkers from the MAC2 facility in Antwerp on a permanent basis.
"We are delighted to have signed this agreement with Cargill and MAC2 to progress our plans for supplying MSAR and bioMSAR to the marine sector from Antwerp-Bruges," Jason Miles, CEO of Quadrise, said in the statement.
"We look forward to working with them as we prepare for the trials on the MSC Leandra in Q2 2024 and to a successful longer-term partnership as we progress to commercial supply."
With Quadrise's share price jumping 25% today, the Cargill deal is no doubt viewed by investors as a promising sign that the company could finally realise its long standing ambition in the marine market.
Within the marine space, Quadrise has yet to replicate the excitement it generated in 2016 following a trial with Maersk that ended the following year after the box shipping giant ruled out the use of scrubbers for IMO2020 compliance.
More recently, in 2022 Quadrise signed a deal with MSC to trial MSAR.
