ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

QED Quadrise Plc

1.625
-0.195 (-10.71%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Quadrise Plc LSE:QED London Ordinary Share GB00B11DDB67 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.195 -10.71% 1.625 1.60 1.65 1.86 1.65 1.82 5,688,031 16:35:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 0 -3.09M -0.0021 -7.86 24.67M

Quadrise PLC Marine Project Update

06/02/2024 7:00am

RNS Regulatory News


RNS Number : 0923C
Quadrise PLC
06 February 2024
 

6 February 2024

Quadrise Plc
("Quadrise" or the "Company")

Marine Project Update

Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, is pleased to announce the signature of a Collaboration Agreement with Cargill NV ("Cargill"), a major supplier of renewable biofuels, and MAC2 Solutions NV ("MAC2"), part of Group Machiels, with regard to the production of MSAR® and bioMSAR™ fuels for the Company's forthcoming marine vessel trials (the "Trials").

Under the Collaboration Agreement between the parties, the Trials will be carried out following the installation and commissioning of Quadrise equipment at the MAC2 facility in Antwerp, Belgium. Cargill will be responsible for the supply of feedstocks, as well as for bunkering operations to supply MSAR® and bioMSAR™ fuel, for the Trials. MAC will be responsible for the supply of jetty space, utilities, permits and ad-hoc support services during the Trials, whilst Quadrise will be responsible for the provision of MSAR® and bioMSAR™ technology and fuel production equipment and personnel.

Further to the Company's AGM Statement on 27 November 2023, this Collaboration Agreement is the first of a number of agreements with stakeholders that are required in order to supply MSAR® and bioMSAR™ to the MSC Leandra for Proof of Concept ("POC") and Letter of No Objection ('LONO') trials commencing Q2 2024.

Subject to the conclusion of the remaining required agreements, including a toll manufacturing agreement between Cargill and Quadrise in respect of fuel manufacture, Quadrise equipment is expected to be delivered to the MAC2 site to enable the Trials to commence in Q2 this year, following the receipt of permits for the Trials by MAC2. The Trials will commence with POC tests using MSAR® and bioMSAR™ followed then by several thousand hours of operation on bioMSAR™ in order to obtain a LONO from the original equipment manufacturer. Quadrise anticipates that the bioMSAR™ LONO trial will take approximately 6-8 months after the POC trials are completed within around 2 months, subject to the commercial route of the MSC Leandra during the Trials.

Upon successful LONO trial completion and entry of a long-term fuel supply agreement, the parties plan to seek to initiate commercial MSAR® and bioMSAR™ bunker supply operations to the marine sector by Cargill through the MAC2 facilities in Port of Antwerp-Bruges on a permanent basis.

Commenting on the update, Jason Miles, Chief Executive Officer of Quadrise, said:

"We are delighted to have signed this agreement with Cargill and MAC2 to progress our plans for supplying MSAR® and bioMSAR™ to the marine sector from Antwerp-Bruges. We look forward to working with them as we prepare for the trials on the MSC Leandra in Q2 2024 and to a successful longer-term partnership as we progress to commercial supply."

 

For additional information, please contact:

 

Quadrise Plc


+44 (0)20 7031 7321

Andy Morrison, Chairman

Jason Miles, Chief Executive Officer






Nominated Adviser



Cavendish Capital Markets Limited


+44 (0)20 7220 0500

Ben Jeynes



Katy Birkin



Joint Brokers

Shore Capital Stockbrokers Limited


 

 

+44 (0)20 7408 4090

Toby Gibbs, Rachel Goldstein (Corporate Advisory)



Fiona Conroy (Corporate Broking)



 

 

 

VSA Capital Limited

Andrew Raca (Corporate Finance)

Andrew Monk (Corporate Broking)


+44 (0)20 3005 5000




Public & Investor Relations

 

 

Vigo Consulting

Patrick D'Ancona

Finlay Thomson


+44 (0)20 7390 0230

 

About Quadrise

Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels and biofuels, providing innovative solutions to reduce energy costs and greenhouse gas emissions today for clients in the global power generation, shipping, industrial and refining industries.

Learn more at: www.quadrise.com

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGRSSAFUIELSEDE

1 Year Quadrise Chart

1 Year Quadrise Chart

1 Month Quadrise Chart

1 Month Quadrise Chart

Your Recent History

Delayed Upgrade Clock