Quadrise’s interim results present a business that is making practical progress on several fronts at once, with its core projects moving nearer to the point where technical work can translate into commercial outcomes. The company is still at a development stage, but the latest update gives investors a clearer sense that the main building blocks are coming together.
The most important area remains marine fuel, where Quadrise continues to progress its work with MSC and Cargill. This is the company’s most significant near-term opportunity and the latest update suggests that the programme is becoming more operationally defined. Agreements are being finalised and the supporting groundwork is already well advanced. That includes certification work for bioMSAR™, trial equipment preparation, permit applications, customs and VAT arrangements, and the establishment of a Belgian branch to support activity in Antwerp.
Quadrise plans to begin with proof of concept work on MSAR®, followed by baseline testing on bioMSAR™, before moving into a 4,000-hour bioMSAR™ run intended to support a Letter of No Objection from Wärtsilä. That matters because it points to a defined route towards broader industry acceptance.
In Morocco, the project with OCP has been reshaped around an alternative site and a more practical equipment set-up. That keeps a potentially important industrial application in play and suggests management is willing to adapt the route in order to keep momentum. In Central America, successful testing at Sparkle Power’s El Giral plant has already been completed, with permitting in Panama now under way for both MSAR® and bioMSAR™.
The US project with Valkor adds another useful layer to the story because it introduces a more defined commercial structure. The agreement includes staged licence payments, future quarterly service charges and expected equipment fees, giving investors a clearer view of how value could begin to build as the project advances.
Quadrise is also advancing multiple second-generation, waste-based bio-oil pathways for bioMSAR™ and bioMSAR™ Zero, while also building research capability through data digitisation, external collaborations and product development. That broadens the company’s positioning and may improve its ability to respond to changing customer and regulatory requirements over time.
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® and bioMSAR™, which allow clients in the shipping, utilities and industrial sectors to reduce carbon emissions whilst also saving costs.
