Quadrise plc (LON:QED), the manufacturer of lower cost, lower emission, replacement fuels and biofuels for shipping and heavy industry, has announced its intention to conduct a placing and subscription of new ordinary shares of £0.01 each in the capital of the Company at a price of 1.0 pence per new ordinary share to institutional and other investors to raise gross proceeds of up to £1.2 million.
In addition to the Placing and the Subscription, and in recognition of the continuing support from long-term shareholders, the Company also announces that it will be providing existing eligible retail investors with the opportunity to participate in a retail offer to raise additional gross proceeds of up to £1.2 million at the Issue Price. A separate announcement will be made by the Company in due course regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing and the Subscription.
Quadrise has entered a new phase, transitioning from a research-led organisation to a commercially focused, market-led business following the appointment of its Chief Executive Officer, Peter Borup, in October 2025. Engagement across the marine and refining value chain has accelerated, with active discussions now underway with four refineries supported by growing customer demand for lower-cost, readily available alternatives to conventional fuel oil.
The Company’s commercial products, MSAR® and bioMSAR™, target the US$147 billion (360 million tonnes) per annum global fuel oil market with fuels that are typically 10% (c.US$40/tonne) lower in cost for producers and consumers alike, more energy efficient and produce fewer emissions. With a number of projects now progressing to industrial-scale trials, the Company is seeking to raise up to £2.4 million (before expenses) to accelerate delivery towards commercial supply and profitability.
The net proceeds of the Fundraise will be utilised for:
- Progression of commercial marine trials with MSC (the world’s largest container shipping company) and Cargill (a global leader in commodities trading and fuel supply) through to commercial supply, including the establishment of an MSAR® and bioMSAR™ supply hub in Antwerp, a key marine bunkering location, supporting ongoing fuel production for the marine sector.
- Advancing projects with OCP in Morocco (the world’s largest phosphate fertiliser supplier), Valkor (a heavy oil producer) and industrial power projects in the Americas through commercial-scale trials, with investment in equipment and trial activities to build commercial volumes, supporting sustained fuel production and positive cashflow generation from FY 2028-29.
- Strengthening the balance sheet to demonstrate funded counterparty status to commercial partners, supporting confidence in the Company’s ability to deliver commercial-scale projects and execute contractual commitments.
As commercial milestones are delivered, the Company expects to be well positioned to pursue non-dilutive funding options to support further growth, including project-level financing, technology partnerships and capital expenditure financing for additional Multifuel Manufacturing Units (“MMUs”).
The Issue Price represents a discount of approximately 35% to the closing mid-market price of 1.55 pence per Ordinary Share on 6 July 2026.
Shore Capital Stockbrokers Limited and VSA Capital Limited are acting as joint bookrunners and placing agents in connection with the Placing. Shore Capital will also be acting as retail offer coordinator in relation to the Retail Offer. Cavendish Capital Markets Limited is acting as nominated adviser to the Company.
The Placing will be conducted through an accelerated bookbuild which will be launched immediately following this Announcement. The Placing is subject to the terms and conditions set out in Appendix 1 to this Announcement.
The new Ordinary Shares to be issued in the Fundraise will be issued and allotted under the Company’s existing allotment and disapplication of pre-emption rights authorities obtained at the Company’s last annual general meeting held on 28 November 2025.
Peter Borup, Chief Executive Officer of Quadrise, commented:
“Since joining Quadrise, my focus has been on increasing engagement across the marine and refining value chain, strengthening our commercial readiness and ensuring we convert opportunity into delivery. The progress we are making with ship operators, fuel partners and refiners underpins our confidence in the scale of the opportunity ahead.
Quadrise is operating at a time of significant change and opportunity in global fuel markets. Geopolitical disruption, a heightened focus on fuel security and tightening emissions regulation are reshaping customer priorities and increasing demand for solutions such as ours that deliver material cost savings and improved fuel efficiency.
The proposed Fundraise provides existing shareholders with a timely opportunity to participate as we progress towards key commercial milestones, while recognising the importance of disciplined execution and capital management.
This Fundraise will support our transition to commercial supply, with a clear pathway towards profitability, and strengthen the Company’s balance sheet.”
