Image credit: Quadrise Fuels International

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Quadrise Fuels International, the developer of MSAR emulsion technology and fuel, confirmed on Monday that it has received confirmation from its refinery counterparty that it will no longer support the production of MSAR fuel for the UK-listed firm's combustion boiler trial project in Saudi Arabia.

Quadrise explained that this was due to the continuing delays that have prevented the signature of a fuel supply agreement, and that, as a result, the planned trial would not be going ahead.

The company had warned in previous announcements towards the end of March that the combustion boiler trial project in Saudi Arabia would be in jeopardy if certain agreement documents were not signed before April 1.

Quadrise explained on March 26 that even though the majority of agreements to carry out the MSAR production-to-combustion trial had already been signed, the signing of the fuel supply agreement between an unnamed oil company and the refinery counterparty had not been completed as there had been a delay in the inking of a back-to-back trial agreement between the oil company and an electricity firm.

As a result, the refiner was said to have informed the oil company that if documents were not signed by April 1, then it may no longer be in a position to support the production of MSAR fuel for the trial.

In Quadrise's latest statement, the company said: "Quadrise will seek to continue to work with both the KSA oil and electricity companies to review options that would enable a trial in KSA to proceed, on an amended timetable, to demonstrate the significant economic benefits that use of MSAR technology could deliver."

Quadrise also noted that it was looking at opportunities in the marine, power, upstream, petrochemical and refinery refuelling markets, including the use of the MSAR manufacturing facility at the refinery counterparty's site to supply fuel directly to the consumer, allowing for a much higher level of control on the overall project delivery.