Quadrise (AIM:QED), a technology company focused on low-emission and biofuels for shipping and heavy industry, has said it will not deliver a 600 barrel-per-day Multifuel Manufacturing Unit to partner Valkor by 30 June, with on-site delivery now expected in the third quarter of 2026.
The delay follows Valkor's notification that its 500 barrel-per-day oil-sands pilot plant in Utah will now be commissioned in the fourth quarter of 2026 rather than earlier in the year.
Quadrise said its equipment is ready for deployment and that representative heavy sweet oil samples have been prepared in Valkor's new pilot plant ahead of MSAR and bioMSAR fuel formulation work.
Of the $1.0 million licence fee payable by Valkor, $0.95 million remains outstanding following no further payments since November 2025, with the board expecting payment in full by 30 September.
