Quadrise Plc (LON:QED) has taken another significant step forward in its journey towards cleaner and more efficient maritime fuels, signing a Services Supply Agreement with MAC2 in preparation for upcoming trials with MSC, the world’s largest container shipping line. These eagerly anticipated trials, scheduled to begin in Q2 2025 aboard the MSC Leandra V, mark a pivotal moment in the company’s commercial progress.
The trials will initially involve a Proof of Concept phase before transitioning into baseline performance testing and a substantial 4,000 hours of operational use over six to eight months. They are part of a broader ambition to permanently supply Quadrise’s proprietary MSAR and bioMSAR bunker fuels through the Port of Antwerp-Bruges, utilising MAC2’s infrastructure.
Encouragingly, the surrounding bilateral agreements continue to advance smoothly. This includes a toll manufacturing arrangement between Quadrise and Cargill, ensuring fuel production is secured ahead of the trial phase.
Tom Fraine, CFA, Research Analyst at Shore Capital, emphasised the potential magnitude of this opportunity:
“We believe the opportunity with MSC alone could be huge relative to Quadrise’s current enterprise value, noting that MSC currently consumes close to 10m tonnes of fuel oil annually and we believe Quadrise could charge c.$50 per tonne for the use of its technology.”
This announcement follows a wave of positive developments for Quadrise, including a significant rally in its share price—up more than 185% since the company’s AGM update in November. Previous updates in March also highlighted strategic progress, including collaboration with an Australian-based sustainable fuels partner.
On a Final Note
Quadrise’s latest agreement adds further credibility and momentum to its drive for commercial-scale deployment. With trials on track and strategic partnerships in place, the months ahead promise to be transformative for the company as it eyes a leading role in the transition to sustainable maritime fuels.
