Quadrise plc (LON:QED), the technology company focused on the decarbonisation of shipping and heavy industry through deployment of low emission fuels and biofuels, has provided an update on its project with Valkor Technologies LLC in Utah, USA.
Progress with Valkor continues to be made towards pilot deployment and the commercial demonstration of the Company’s upstream production model. The Quadrise equipment is ready for deployment and the Company has been informed that representative heavy sweet oil samples have been prepared in Valkor’s new pilot plant ahead of MSAR® and bioMSAR™ formulation work.
Valkor’s 500 barrel per day oil-sands pilot plant is now due to be commissioned in Q4 2026. The Company will not therefore deliver a 600 bpd Multifuel Manufacturing Unit to site by 30 June 2026 as had been previously indicated, this will now take place during Q3 2026.
Since the Company’s announcement of 28 November 2025, no further licence fee payments have been received by the Company and US$0.95 million of the US$1.0 million licence fee payable to the Company by Valkor remains outstanding as Valkor await receipt of approved project funding. The Board now expects payment of the licence fee in full by 30 September 2026.
