Quadrise plc
Quadrise plc

Quadrise plc share price, company news, analysis and interviews

Quadrise plc (LON:QED) is an energy technology provider whose solutions enable production of cheaper, cleaner, simpler and safer alternatives to fuel oil and biofuels, proven in real world applications.

Quadrise technologies produce transition fuels called MSAR® (pronounced ‘em-sar’) and bioMSAR™, which allow clients in the shipping, utilities and industrial sectors to reduce carbon emissions whilst also saving costs.

Quadrise plc

TECHNOLOGY

MSAR® technology produces a low viscosity oil-in-water emulsified synthetic fuel oil or biofuel. It is a proprietary technology to mix heavy residual oils with small amounts of specialist chemicals and water to a bespoke formulation. The resulting MSAR® emulsion contains approximately 30% water and less than 1% chemicals. The emulsion is a low viscosity liquid at room temperature, which makes it easier to handle and reduces the heating costs for storing, transportation and use in comparison to heavy fuel oil (HFO).

Quadrise Plc

BENEFITS

Both MSAR® and bioMSAR™ are water-based fuels and biofuels respectively. The superfine dispersion of oil-soluble droplets (5-10 microns) in the water phase is much smaller than atomised HFO droplets (100 microns).  This means that MSAR® and bioMSAR™ have a far greater surface area, enabling complete combustion.  All of the fuel is converted to energy.  The inherent water within MSAR® and bioMSAR™ also reduces the temperature of combustion, which reduces NOx emissions by up to 45%*, with no visible black soot. 

MSAR® delivers up to 9%* reduction in carbon dioxide, and bioMSAR™ offers over 20% reduction in emissions compared to HFO. This is comparable with LNG use, but without the risk of methane slip, which is 21 times worse than CO2 as a greenhouse gas.

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Quadrise plc

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Interviews

Quadrise Fuels bioMSAR™ Aquafuels testing results endorsement of potential (Interview)

Quadrise Fuels International plc (LON:QFI) CEO Jason Miles joins DirectorsTalk Interviews to discuss the results of the latest bioM-SAR™ testing at Aquafuel Research and also the appointment of Andy Morrison as Non-Executive Chairman.

Jason tells us more about Andy Morrison, explains the significance for bioMSAR as a transition fuel, the impact these results will have on plans for commercialisation, other tests planned at Aquafuel, talks with MSC, other active projects and news we can expect over the coming months.

https://vimeo.com/672315898

Quadrise Fuels International (LON: QFI) is the global innovator and licensor of disruptive heavy oil technology that produces MSAR® fuel.

Premier Miton Gervais Williams on sustainability, his green stocks and investment trust outlook (Interview)

Premier Miton Investors plc (LON:PMI) Head of Equities joins DirectorsTalk Interviews to discuss the importance of sustainability. Gervais discusses the signs of a positive economic momentum, how an increase in tax on dividend income affects investors and investment trusts and the importance of sustainability in assessing companies. We also discuss green technologies for companies CyanConnode Holdings, Tirupati Graphite, Dekel Agri-Vision, Quadrise Fuels and Kenmare Resources and what investors could look out for in terms of growth opportunities.

https://vimeo.com/606354545

CyanConnode Holdings Plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. With a wealth of expertise and experience in smart technology, the Group provides customers with long-range, low-power, end-to-end networking solutions and high-performance applications that help them enhance service delivery, improve business efficiency and save energy.

Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. It was incorporated in London, on the 26 April 2017 as a public company with a vision of developing a world-leading benchmark flake graphite company.

Dekel Agri-Vision plc (LON:DKL) is an agriculture processing, logistics and farming operation located in Côte d’Ivoire. 

The Company has a portfolio of projects at various stages of the development curve: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders in addition to c.1,900 ha of company estates is processed at the Company’s 60tn/hr crude palm oil mill; a large scale cashew processing project in Tiebissou, which is due to commence production in 2020; and a 24,000ha brownfield development site in Guitry which is being prepared for development.

Quadrise Fuels International plc (LON:QFI) is the global innovator and licensor of disruptive heavy oil technology that produces MSAR® fuel.

The Quadrise team is a unique combination of energy sector experts and fuel specialists that were instrumental in the prior commercialisation of 60 million tons of Orimulsion® fuel worldwide.

Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.

The Mine has been in commercial production since 2009 and is recognised as a major supplier of mineral sand products to a global customer base operating in over 15 countries. Kenmare’s products are key raw materials processed into intermediate products and ultimately consumed in everyday “quality-of-life” products such as paints, plastics and ceramic tiles.

Question & Answers

Quadrise Fuels

Quadrise Fuels International test results will support and hopefully accelerate the plans on the larger scale trials (LON:QFI)

Quadrise Fuels International plc (LON:QFI) Chief Executive Officer Jason Miles caught up with DirectorsTalk for an exclusive interview to discuss new Chairman Andy Morrison, the significant for bioMSAR as a transition fuel, the impact of the Aquafuel results on plans for commercialisation, other tests planned at Aquafuel, discussions with MSC, other active projects and what we can expect in the coming months.

Q1: Quadrise Fuels International have appointed a new Chairman today, can you just tell us more about Andy Morrison?

A1: We’re obviously delighted to have Andy actually join us today, it’s his first day today, following a very comprehensive recruitment process led by the Nominations Committee and Phil Snaith. We’re very sure that Andy will add significant value to the company and experience the Board.

He’s a very experienced fellow chemical engineer with some 40 years of experience, starting his career at Royal Dutch Shell where he had an international oil trading, marketing, shipping and speciality chemicals experience which captured our attention. Of particular interest to us is actually his life after Shell, the development of his career was moved to more strategic and then portfolio roles and since 2007, he’s been working with a variety of different publicly-listed smaller junior companies such as ours. His role recently in Spinnaker Acquisitions as an investor, again, cemented his experience to be very city-facing and an ideal fit really with what we are looking for from a Non-Exec Chairman.

So, yes, we are delighted and hopefully he’ll be looking forward to speaking to shareholders soon.

Q2: Now, regarding the positive results of the bioMSAR testing at Aquafuel announced Monday, can you just explain for us the significance for bioMSAR as a transition fuel?

A2: It gets a bit complicated so I’ll try and keep it a high level and not too technical.

When companies are evaluating transition fuels, there are three things that are important. There’s the fuel composition and therefore the potential reduction in greenhouse gas emissions that include obviously CO2, black soot and methane but there’s also the efficiency of the transition fuel when it’s actually used in converting the energy that’s in the fuel actually to power. Then the resulting emissions are important too so obviously CO2 is important, but also other things such as NOx emissions and smoke emissions are also important. So all of those things you need to make sure your product complies with and ideally excels at.

So, prior testing of bioMSAR at Aquafuel last year, which we published last year, indicated that with the standard settings for the Cummins engine, which is a standard two litre truck engine, that’s linked to a generator so it’s a high speed engine, not really designed for running on heavy fuels, got some very positive results. We got better efficiency, by about 3%, but it also got over 20% lower NOx so that indicated we were onto something and we repeated those tests this year, again, to confirm that those results were repeatable.

The recent round of testing really was to look at then how could we adapt the engine to more closely simulate what we expect to see on the larger engines, specifically notably the larger two stroke engines, where you are able to advance the injection of the fuel, which is important for fuel such as ours, which take a little bit longer to combust.

So what we did is we modified the engine to allow early injection, we retrofitted it with a pressure sensor so we can very closely and accurately monitor what’s happening inside the engine. What we saw was that by advancing the injection of the fuel, you’re able to increase the efficiency of the engine and that was a case with bioMSAR, It was also the case with diesel as well. However, what you also see when you increase the efficiency is that the emissions of NOx go up so efficiency goes up, so does NOx, and obviously with diesel engines, that’s a limiting factor.

What we were able to do with bioMSAR was we were able to reduce the inlet air temperature down to very low levels, which are akin to diesel, and that meant that we could achieve high efficiency, but also low NOx. Whereas with diesel, what you see is you see high efficiency but you have high NOx so you can never achieve that high efficiency, which is why the engine’s detuned.

That’s very important, that gives you lots of flexibility in an industrial application and the higher efficiency obviously reduces the cost, but it also reduces the absolute amount of CO2 that emit as well. So, if you can comply with emissions limits or even better them which we did in the recent testing, but also get that higher efficiency in the engine, that’s an extremely compelling factor which really separates the bioMSAR with other potential transition fuels.

Q3: What impact will these results have on your projects and plans for commercialisation?

A3: We certainly think that the results will support and hopefully accelerate the plans we have on the larger scale trials, which I can tell you about it in a minute. I think in terms of the non-engine applications, all of these results are very helpful to convince people that the fuel burns extremely effectively.

Q4: What can you tell us about other tests that are planned at Aquafuel?

A4: So, at Aquafuel, we weren’t able to completely do all of the runs that we needed to do to optimise efficiency versus emissions so the final bit of the testing, based on what we’ve just recently seen, is to carry out some additional tests in just to exactly quantify how much better efficiency we can achieve versus diesel and what the optimum settings is for the emissions. That will then be very helpful to feed into the other testing that we have planned.

We also have some other formulations of fuel that we are looking at as well and the Aquafuel engine can be used for that type of testing, it’s a perfect little setup we have and obviously a UK base as well so it makes life very easy logistically.

Q5: Just coming away from that, how are talks with MSC progressing and what are the next steps for vessel testing and overcoming OEM resistance?

A5: The MSC discussions of progressing well and obviously, the recent Aquafuel results are definitely supportive in progressing actually to vessel testing, what we’d like to do is go straight to vessel testing without having to wait for the stationary engines to be available from the OEMs. So it’s utilizing these results now to obviously support the step to move straight to BioMSAR testing on the vessel without having to wait for the stationary engine test to happen first.

So, those discussions are progressing and obviously we’re looking forward to updating shareholders in due course.

Q6: Jason, can you just update us on the status of your other active projects in Morocco and Utah and how the timetables are looking since you last updated to the market?

A6: Obviously January has passed by and there’s been lots of things going on.

In Morocco, we’re still working on updating the material transfer corporation agreement that we have with the client, there’s a new client team that we’re working with so we’ve been working with those guys to really get things ready to carry out site trials. Morocco has been quite tricky because until very, very recently, there’s been no means of accessing Morocco, all of the borders have been shut. That’s now been opened up as of this month, next week, so  our team are able to access the site again.

So, once we have the agreements signed off and the plans finalised in terms of the testing, which we still target for this quarter, then we’ll be providing an update in due course, but work is ongoing.

Q7: What else can we expect over the next few months with regards to progress and announcements from Quadrise Fuels International?

A7: With Utah, we’re still working with TomCo and Heavy Sweet Oil as well, they’re in the middle of a down hole drilling program at the moment together so we’re working with those guys to really dovetail their production plans for down hole oil with the potential production of bioMSAR and MSAR at site for trials that we’re looking at doing there. Obviously, it’s a future supply point for bioMSAR and potentially MSAR for our future plans with MSC, once a vessel trial is ongoing, hopefully it’s completed. So, all of those things are progressing well.

In terms of the next few months, we’ve obviously got two senior appointments announced within a month of each other which will definitely assist me in some of the heavy lifting. Phil Hill’s already hit the ground running and we expect Andy to do the same so we’ve obviously got two people to bring up to speed, we’ve got lots of other things going on.

In the Americas, we have some refinery and power plant trials, which we are working on with the clients there in Mexico and Panama and also, we are working on some other new projects, looking at new aspects to the technology that we hadn’t thought about before. Also, our net zero fuel project to move bioMSAR to the next level and achieve a fuel that potentially has very compelling features compared to other blue and green type transition fuels.

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