(Alliance News) - Quadrise PLC on Tuesday said it has sealed a collaboration deal with Cargill NV and MAC2 Solutions NV for the production of MSAR and bioMSAR fuels for its upcoming marine vessel trials.

Quadrise shares jumped 23% to 2.57 pence each in London on Tuesday morning.

The London-based residual oil technology company said the trials will be carried out after the installation and commissioning of Quadrise equipment at the MAC2 facility in Antwerp, Belgium.

Cargill will supply feedstocks, and will also be responsible for bunkering operations to supply MSAR and bioMSAR fuel for the trials.

MAC2 will supply jetty space, utilities, permits and ad-hoc support services during the trials. Meanwhile, Quadrise provide MSAR and bioMSAR technology and fuel production equipment and personnel, the firm said.

Cargill is a Mechelen, Belgium-based agricultural services provider, while MAC2 is an Antwerp-based firm which offers equipments for the reception, storage and treatment of liquid marine waste, and cargo residues.

Quadrise Chief Executive Officer Jason Miles said: "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. We look forward to working with them as we prepare for the trials on the MSC Leandra in [the second quarter of 2024] and to a successful longer-term partnership as we progress to commercial supply."

By Sabrina Penty, Alliance News reporter

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