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Alternative fuel developer Quadrise Fuels International said it expected to complete a trial of its product in Morocco early in the second quarter of 2020.
The company said two site visits took place, in December and January, respectively.
They concluded with the completion of a hazard and operability study of a pilot kiln and associated Quadrise Fuels equipment that would be used to undertake the trial.
Pumping and heating unit fabrication at the company's research facility was now close to completion and the fuel for the trial was due to be manufactured this month.
'The fuel and equipment will then be transported to site in time for the trial to commence in March 2020,' the company said.
Following completion of the trial, expected early in the second quarter, the plan was to progress to the second phase of paid feasibility studies for larger trials.
On funding, Quadrise Fuels said its existing cash resources continued to enable the pursuit of business development activities throughout calendar 2020.
A further £2m was potentially available from August pursuant to a previously announced convertible security instrument.
'If the company is able to draw down this additional funding in August 2020, subject to conditions precedent being met, the additional funds would be expected to meet project expenditure that is currently anticipated,' it said.
'However, the company is cognisant that in order to have a high degree of confidence that this additional funding is available, we will need to be able to demonstrate substantive progress on our projects and for this progress to be reflected in a steadily appreciating share price.'
At 9:36am: (LON:QFI) Quadrise Fuels International PLC share price was +0.26p at 2.61p