Quadrise Fuels says agreement with Greenfield venture is extended to year end

0
28

Quadrise Fuels International PLC (AIM:QFI, FRA:8QF) (AIM:QFI) said it has extended an agreement with the Greenfield Energy LLC venture in Utah, extending the timeline for the ongoing trial operations out to December 31 2021.


Greenfield Energy LLC, a joint venture between Valkor LLC and TomCo Energy PLC (AIM:TOM, FRA:NI41) (AIM:TOM), has licensed technology from Quadrise to use in the trial project.


All other terms and conditions of the agreement remain unchanged, Quadrise noted.


In July, TomCo announced that Greenfield had received the final FEED (Front-End Engineering and Design) study for production facilities for a proposed project in Utah. It proposes a plant that would comprise an initial 5,000 barrels of oil per day train, configured to enable an expansion to 10,000 bopd.


In a July update, TomCo noted that Greenfields focus was on completing the due diligence for a site for the project along with work on the required funding package for the 10,000 bopd facility.

LEAVE A REPLY

Please enter your comment!
Please enter your name here