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Shares of Quadrise Fuels International Plc (LON: QFI) spiked 20.7% higher after the company announced that testing results proved that bioMSAR is a viable diesel engine fuel.
The impressive test results were achieved on a high-speed diesel engine, and the bioMSAR™ also achieved higher efficiency and 20-25% lower NOx compared to baseline testing on diesel at the prevailing test conditions.
The test results show that further optimisation of the operating conditions could yield better results. Quadrise intends to build on the positive results to optimise for various loads when third-party tests commence.
The initial results also revealed that both fuels produce comparable particulates and bioMSAR™ had a great carbon burn driven by the hydrocarbons' pre-atomisation in the fuel leading to the avoidance of black soot despite the test engine was designed for diesel.
Quadrise recently signed a deal with a subsidiary of the global shipping company MSC to test its fuels on a commercial container vessel. Today’s update is a great achievement for the company before the MSC trial run commences.
Mark Whittle, COO of Quadrise, explained: “We are pleased to have achieved such positive results for bioMSAR™ in terms of efficiency and emissions, especially as the test engine is designed for diesel as opposed to residue-based fuels. These results give us a solid foundation for the future testing that is planned for medium (4-stroke) and low speed (2-stroke) engines, which are more typically used by our clients.”
Paul Day, CEO & Founder of Aquafuel, added: “This initial testing demonstrates bioMSAR™ is a viable candidate for fossil fuel replacement in larger engines and results indicate a significant NOx reduction, of the order of 20-25%, and no loss of efficiency compared to diesel.”
Quadrise Fuels share price.
Quadrise Fuels share surged 20.69% to trade at 3.85p after rallying from Friday’s closing price of 3.19p.
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