- Quadrise Fuels International said it had signed a non-binding agreement with a European oil refiner to evaluate and potentially develop its alternative fuel technology.

Quadrise Fuels said the refiner was part of an international integrated oil and gas company, but did not disclose its specific identity.

The memorandum of understanding would see the pair mull construction of a project using Quadrise Fuel's MSAR technology at one of the counterparty's refineries.

It covered proof of concept and scoping phases, with subsequent phases once defined, such as feasibility, application testing, trial and commercial implementation being covered by specific agreements.

At 8:06am: [LON:QFI] Quadrise Fuels International PLC share price was 0p at 5.25p

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