NEWS !! Testing Confirmed MSAR® and bioMSAR™ Fuels Can Be Produced from Asphalt Ridge Heavy Oil
SHERMAN OAKS, CA / ACCESSWIRE / September 27, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV:PQE;)(OTC PINK:PQEFF)(FSE:PQCF), an oil company focused on the development and implementation of its proprietary oil-extraction technologies, is pleased to announce that Quadrise Fuels International plc ("Quadrise") recently provided an update on its testing of an oil sample supplied by TomCo's 100% owned subsidiary Greenfield Energy LLC ("Greenfield") taken from the Petroteq Oil Sands Plant ("POSP") and produced from oil sands ore using Petroteq's Clean Oil Recovery Technology ("CORT") process.
Quadrise reported that an extensive program of testing on the Greenfield oil sample was completed at the Quadrise Research Facility ("QRF") in Essex on schedule.
The testing program at the QRF confirmed the ability to produce commercial MSAR® and bioMSAR™ fuels from the sample of heavy sweet oil provided by Greenfield and a report of the testing results has been issued to Tomco. Simulations of storage and handling of both MSAR® and bioMSAR™ produced were also completed during the program which indicated that commercial production of MSAR® and bioMSAR™ fuels would be possible in Utah for potential power and marine end-user applications domestically and internationally.
Quadrise further noted that this testing concludes the proof-of-concept work that was scheduled in Phase 1 of the Commercial Trial Agreement between Greenfield and Quadrise announced on 18 August 2020. TomCo will now review the report and it is expected that Greenfield and Quadrise will enter discussions regarding potential future trials and deployment of the technology to produce MSAR® and/or bioMSAR™ fuel at a commercial scale.
Greenfield has entered a non-exclusive, multi-site license with Petroteq for the use of the CORT process for the production of heavy oil.
Tomco's announcement can be found at:
https://polaris.brighterir.com/public/tomco/news/rns/story/x491l0w
George Stapleton, Petroteq COO, commented: "Confirmation that heavy oil extracted from Utah oil sands using our CORT process is suitable for production of MSAR® and bioMSAR™ fuels could allow for the production of fuel and biofuel with significant environmental benefits, while creating a higher value product stream for Petroteq's future commercial production."
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