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Share Name Share Symbol Market Type Share ISIN Share Description
Quadrise Fuels International Plc LSE:QFI London Ordinary Share GB00B11DDB67 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.40 637,531 16:28:00
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1.30 1.50 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.02 -3.17 -0.34 14
Last Trade Time Trade Type Trade Size Trade Price Currency
16:09:13 O 20,000 1.3699 GBX

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DateSubject
25/5/2020
09:20
Quadrise Fuels Daily Update: Quadrise Fuels International Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker QFI. The last closing price for Quadrise Fuels was 1.40p.
Quadrise Fuels International Plc has a 4 week average price of 1.10p and a 12 week average price of 1.10p.
The 1 year high share price is 8p while the 1 year low share price is currently 1.10p.
There are currently 1,012,423,501 shares in issue and the average daily traded volume is 1,608,526 shares. The market capitalisation of Quadrise Fuels International Plc is £14,173,929.01.
30/3/2020
11:40
brookemia: Quick❗️;😷👨‍⚕️;🏴‍ 760;️ Get to the BANK💰ㇽ4; Wait for it....... EDISON RESEARCH NOTE🤣㈳7;😂 Quadrise Fuels International Business development intensifying Interims Alternative energy 30 March 2020 Quadrise’s business development activity has intensified in the last nine months🤣with progress on opportunities in Morocco, South America, Saudi Arabia (KSA) and the marine sector. COVID-19 will potentially extend the length of time taken to complete trials. However, management notes that the current low oil prices are not likely to have a material impact on interest in using its innovative MSAR fuel as a heavy fuel oil substitute. Year end Revenue (£m) EBITDA (£m) PBT* (£m) EPS* (p) DPS (p) P/E (x) 06/16 0.0 (4.0) (4.1) 06/17 0.1 (3.9) (4.1) 06/18 0.0 (3.3) (3.5) 06/19 0.0 (2.8) (3.0) (0.49) 0.0 N/A (0.45) 0.0 N/A (0.37) 0.0 N/A (0.32) 0.0 N/A Price Market cap Net cash (£m) at end December 2019 excluding potential £2m from second tranche of Bergen convertible Shares in issue Free float Code Primary exchange Secondary exchange Share price performance Business description 1.68p £17m 3.8 995.8m 67% QFI AIM N/A Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. Quadrise has manufactured and shipped the equipment and fuel for the pilot trial in Morocco for an industrial application, but cannot access the site until local COVID- 19 lockdowns are lifted. Meanwhile It is working on the engineering studies for the associated larger scale trial so the delay on the project overall is minimised. Management has recently held meetings with a major KSA utility on a power project, with a national oil company in South America regarding MSAR opportunities for refinery refuelling, domestic power generation and export, and with two major shipping companies. Quadrise is still pre-revenue. Stripping out share option and warrant charges, losses before tax widened by £0.3m y-o-y in H120 to £2.0m, reflecting higher administrative expenses (largely associated with fundraising) and a £140k commencement fee paid to Bergen. Free cash outflow increased by £0.2m to £1.5m. During the period, Quadrise raised £4.5m (gross) in total through the issue of convertible securities to Bergen, an open offer and a subscription, giving £3.8m cash at end December 2019. Given the initial delay to the first phase of the Morocco trial, management is implementing various cost-savings measures including its current lease at its London office🤣 Together with the reduction in travel costs necessitated by COVID- 19, management estimates that these actions will extend the cash runway to the end of calendar Q121 What about Jason-air-Miles335;‍♂️ This excludes the potential to raise a further £2.0m through the issue of the second tranche of convertible securities to Bergen in FY20🤦‍♂️ Quadrise Fuels International is the innovator, supplier and global licensor of disruptive residual oil technology that produces a synthetic, enhanced heavy fuel oil called MSAR. The technology enables refiners to produce MSAR for use as a low- cost substitute for heavy fuel oil. Analyst Anne Margaret Crow +44 (0)20 3077 5700 industrials@edisongroup.com Edison profile page Quadrise Fuels International is a research client of Edison Investment Research Limited
19/2/2020
11:01
brookemia: Gassyboy🐑28017;🐑 here is your laugh for the day👏🤣;😂😅morning Tongers/kreature/sallad Quadrise Fuels International H120 trading update International Pursuing opportunities in multiple sectors Alternative energy 19 February 2020 Over the last two and a half years Quadrise Fuels International has reduced its dependence on individual projects by building up a global network of partner companies, which are identifying and progressing commercial opportunities involving the production and supply of MSAR. Quadrise’s H120 pre-close trading update summarises recent developments in each of the group’s key sectors: utility generation; industrial applications; marine bunker fuel; and as an alternative fuel in upstream heavy oil production operations. Year end Revenue (£m) EBITDA (£m) PBT* (£m) EPS* (p) DPS (p) P/E (x) 06/16 0.0 06/17 0.1 06/18 0.0 06/19 0.0 (4.0) (4.1) (0.49) 0.0 N/A (3.9) (4.1) (0.45) 0.0 N/A (3.3) (3.5) (0.37) 0.0 N/A (2.8) (3.0) (0.32) 0.0 N/A Price Market cap Net cash (£m) at end June 2019 (prior to fund-raising of £4.5m gross) Shares in issue Free float Code Primary exchange Secondary exchange Share price performance Business description 2.52p £25m 1.1 995.8m 67.2% QFI AIM N/A Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. The most advanced project is in Morocco for an industrial application. The group has conducted two site visits, enabling it to complete a hazard and operability study of the pilot kiln and equipment for a trial. Quadrise has almost finished constructing the heating and pumping unit for the trial and will make the fuel later this month, preparatory to commencing the first trial phase in March. This phase is scheduled to complete in early calendar Q220. If successful, the programme will move to a second phase, with the client paying Quadrise £100k for the feasibility and engineering studies for commercial scale trials. Quadrise has held meetings with potential clients in the other three target sectors. These include a national oil company in South America; a major independent power project developer for a project in Mexico; two major shipping companies (not Maersk) and upstream developers with opportunities in Africa and North America. Quadrise raised £2.0m in H120. Management expects this will be sufficient to pursue business development activities throughout CY20. It can raise a further £2.0m in funding from Bergen in August 2020 through the issue of additional convertible securities if the share price has not remained below 3p for 60 days and the aggregate nominal value (up to £2.15m) does not exceed 3.5% of the company's market capitalisation on issue. Quadrise Fuels International is the innovator, supplier and global licensor of disruptive residual oil technology that produces a synthetic, enhanced heavy fuel oil called MSAR. The technology enables refiners to produce MSAR for use as a low- cost substitute for heavy fuel oil. Analyst Anne Margaret Crow +44 (0)20 3077 5700 industrials@edisongroup.com Edison profile page Quadrise Fuels International is a research client of Edison Investment Research Limited General disclaimer and copyright This report has been commissioned by Quadrise Fuels International and prepared and issued by Edison, in consideration of a fee payable by Quadrise Fuels International. Edison Investment Research standard fees are £49,500 pa for the production and broad dissemination of a detailed note (Outlook) following by regular (typically quarterly) update notes. Fees are paid upfront in cash without recourse. 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Frankfurt +49 (0)69 78 8076 960 London +44 (0)20 3077 5700 Schumannstrasse 34b 280 High Holborn New York +1 646 653 7026 1,185 Avenue of the Americas 3rd Floor, New York, NY 10036 United States of America Sydney +61 (0)2 8249 8342 Level 4, Office 1205 95 Pitt Street, Sydney NSW 2000, Australia 2 Quadrise Fuels International International | 19 February 2020 60325 Frankfurt London, WC1V 7EE Germany United Kingdom Ha! Ha!😂😅;🤣😂😅😂28176;💰€176;🍾ㇳ0;🛩🛩🚁🚁. B🐷O🐷D🐷
19/2/2020
10:30
brookemia: Notice of Interim Results and Business Update Quadrise Fuels International | QFI | 2.5 0 0.0% | Mkt Cap: 25.1m London Stock Exchange RNS Number : 1315D Quadrise Fuels International PLC 17 February 2020 17 February 2020 Quadrise Fuels International plc ("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group") Notice of Interim Results and Business Update Quadrise Fuels International plc (AIM: QFI) provides the following update ahead of its interim results for the six months ended 31 December 2019, which the Company intends to announce on 30 March 2020. The results announcement will be followed by an investor conference call, further details will be provided in due course. Business Development Overview The Company has continued to make progress across its portfolio of business development opportunities with global partners. As highlighted previously, the strategy of pursuing a diversified range of opportunities provides Quadrise with access to a rich body of experience through its various partners at negligible cash cost, combined with opportunities to fully leverage its in-house business development capabilities. The Company remains focused on translating the opportunities being progressed during 2020 into projects with clear commercial revenue potential. Developments Post-AGM Progress has been made in a number of areas that has enabled Quadrise to increase the breadth and depth of its business development programme, addressing the vast majority of the potential MSAR® market opportunity. Developments by MSAR® market segment are summarised below. Industrial Applications Morocco - Two site visits to Morocco took place, in December and January respectively, concluding with the completion of a Hazard and Operability (HAZOP) study of the pilot kiln and the associated QFI equipment that will be used to undertake the trial. The pumping and heating unit fabrication at our Quadrise Research Facility ("QRF") is now close to completion and the fuel for the trial is due to be manufactured at QRF this month. The fuel and equipment will then be transported to site in time for the trial to commence in March 2020. Pending the positive outcome of this first phase, which we are anticipating should be completed in early Q2 2020, the intention is to progress to the second phase of paid feasibility studies for larger trials that are a precursor to commercial roll-out in the partners' facilities. Power Applications, Refinery Refuelling, & Co-Development Opportunities · Kingdom of Saudi Arabia (Al Khafrah Holdings and Aleph Commodities) - In conjunction with the Al Khafrah Holding Group, work continues to deliver high level engagement with major stakeholders in KSA to agree, as soon as possible during 2020, project details for a power plant trial. As mentioned during the AGM, this work includes the opportunity to consider MSAR® manufacture in KSA at a lower cost. · South America (Freepoint Commodities) - QFI and Freepoint jointly met with senior management of a national oil company in South America, where there is an MSAR® opportunity for refinery refuelling, leading to domestic power generation and export opportunities that would reduce distillate import requirements for the client. · Mexico (Redliner & Freepoint Commodities) - Quadrise continues to engage with key stakeholders and decision makers in the energy sector to initiate MSAR® technology testing and deployment in Mexico. MSAR® opportunities include refinery refuelling, domestic power generation and fuel exports that reduce distillate fuel imports. QFI has recently met with a major independent power project developer, who is supportive of MSAR® deployment, to provide economic and environmental advantages to new build power projects. · European Refiner -The client is now comparing the economics of MSAR® with another refinery solution (which requires complex refinery testing during Q2 and Q3 2020) to enable IMO 2020 compliant fuel supply. It is anticipated that the client will make a decision at the end of Q3 2020. If MSAR® is selected, the Company would expect to finalise the site trial agreement, including schedule, for refinery refuelling during Q4 2020. · Nouryon - We have held positive discussions regarding business collaboration opportunities between Quadrise, Nouryon and related companies within the Carlyle Group. · Kuwait (Aleph Commodities and Hawazin) - An MSAR® refinery refuelling opportunity is being explored for the new refinery and information is being exchanged with the client team to review this in more detail alongside with Hawazin. If the project economics are positive, Quadrise will undertake a feasibility study and develop an implementation plan to present to the client team in Kuwait. Marine Applications · Marine - The implementation of IMO 2020 compliance remains the main focus for shipping companies and operators during Q1 2020. The Company has had positive meetings with senior management of two major shipping companies, each with major fleets and leading positions in scrubber implementation in their segments of the shipping industry. Further meetings with these companies are being planned during H1 2020 to investigate potential MSAR® Letter Of No Objection ("LONO") testing and commercial deployment, on success, to reduce fuel costs further whilst improving environmental performance. Quadrise is also investigating the merits of establishing, or linking with, a physical bunker fuel supplier, to provide a supply network for high sulphur fuels in parallel with MSAR® for the LONO testing opportunities. Further updates in this regard will be provided, as appropriate, in due course. Upstream Applications · Merlin - Joint meetings have been held with an upstream developer with MSAR® potential in Africa, and parallel opportunities in South America are being jointly screened. · Other - Quadrise is also in preliminary discussions directly with upstream developers in Africa and North America, both of whom have concessions for extraction of heavy sweet crude oil / bitumen that potentially would benefit from the implementation of MSAR® technology. Other There are no material updates to report during the period to developments with the European Oil Major, Maersk, Bitumina, JGC or API Poly GCL. Funding Our existing cash resources continue to enable the Group to pursue our business development activities throughout calendar year 2020, with a further £2 million of funding potentially available to the Company from August 2020 pursuant to the previously announced convertible security instrument. If the Company is able to draw down this additional funding in August 2020, subject to conditions precedent being met, the additional funds would be expected to meet project expenditure that is currently anticipated. However, the Company is cognisant that in order to have a high degree of confidence that this additional funding is available, we will need to be able to demonstrate substantive progress on our projects and for this progress to be reflected in a steadily appreciating share price. The QFI Board believes that the business development pipeline above provides the platform needed to deliver our strategy of translating opportunities during 2020 into projects with commercial revenue potential, and we look forward to providing further updates on progress. For additional information, please contact: Mickey Mouse Disney world Florida 😂😅😂😂 8517;😂ԍ15;🤣 Gassyboy🐑28017;🐑€017;🐑㈁7;
29/1/2020
09:39
jaknife: Dear Bulls, Can you see where the share price is? Have you worked out who is selling heavily into the falling share price? Do you agree that it’s Bergen who still need to convert their loan to shares? Were you on the conference call back in August? Do you remember that Tim Kempster cad arguing with Mike Kirk that this is what would happen? Do you all remember leaping to Mike’s defence and attacking Tim because .... well in fairness you didn’t have a good reason to attack him you just attacked him because Tim was a bear. But do you now agree that what Mike Kirk told you on that call was total sloblox and actually you should have taken a moment to think about what Tim said and gone “Oh, what he’s saying makes perfect sense”? Just imagine how much money you could have saved by actually listening to Tim’s words and thinking about them instead of simply blindly attacking him because he’s a bear. Sometimes the bears are right! You will only ever know if they’re right or wrong by listening carefully to the arguments and judging the quality of them. And just to repeat: what Mike Kirk told you on that call was total sloblox! JakNife
24/1/2020
09:43
jaknife: There's an outstanding death spiral convertible out there that hasn't been converted yet Https://www.investegate.co.uk/quadrise-fuels-intnl--qfi-/rns/convertible-securities--issue-of-equity---warrants/201908230700060020K/ So on the one hand Quadrise has the cash, but on the other hand the shares haven't yet been issued and the price at which they're going to be issued hasn't been determined yet. The death spiral provider is Bergen, some examples of Bergen's work were pasted back here: Https://uk.advfn.com/cmn/fbb/thread.php3?id=25700341&from=44241 There was a conference call back in August last year where a chap by the name of Tim Kempster pointed out the damaging effect that death spirals have on share prices but the Chairman Mike Kirk reassured everyone listening that Bergen wouldn't sell into a falling share price and the longs all shouted "you shouldn't listen to Tim, he's an evil shorter". Trouble is that Mike lied and Tim was right, the QFI chart at the top of this page illustrates that point to perfection! JakNife
29/8/2019
12:45
jaknife: h50j20t60, That's very childish. Are my comments about QFI that controversial that your only response has to be "not listening, not listening, not listening"? How old are you again? I am very firmly of the opinion that, in time, you will find that my comments prove to be 100% correct. QFI have been forced to choose a very dangerous form of finance: a death spiral convertible. I write "forced" because they had no other option: A. They have no institutional shareholders who prepared to corner-stone a fund raise. (This is because the management team have a track record of "over-promising" and "under-delivering" combined with a desire to continue to reward themselves excessively despite having failed to deliver on their business plan.) B. The last attempt to raise money via an open offer was only successful after an extension to the offer date and only then raised a minimal amount from genuine private investors Https://www.investegate.co.uk/quadrise-fuels-intnl--qfi-/rns/result-of-open-offer/201901210700065702N/ C. The company desperately needs cash because it would otherwise all be gone by October (and the directors need to be paid). In such circumstances the company had no other real option than a death spiral convertible. For the record, I am very specifically pointing at the share price charts of both Angus Energy (ANGS) and VAST Resources and highlighting that Bergen lent money to both of those companies via death spiral convertibles and, in both instances, they sold the conversion shares heavily into a falling price and the share price has tumbled. If Mike Kirk has done *ANY* research then he would know that. And hence he must have lied on the conference call yesterday. We can revisit this in six months time. Let's diarise 29th Feb next year. In the meantime, I suggest that you speak to the Ancient Mariner and ask him about the "run ins" that he has had in the past. He will unfortunately have to tell you that I was 100% right with every "run in" that I've ever had with him. Which should make you think carefully! JakNife
27/6/2019
10:00
becclesbasher: I am certainly an investor in QFI. What offends me are the self appointed"experts",the likes of Tongusting and Brokemaniac, taking such pleasure whenever the QFI share price drops. I expect the share price to continue on its upward trend and for both those morons to continue posting their poisonous drivel. Kreature is a different matter. He has a touch of whimsy about him.
20/11/2017
11:47
sb: Brookaemia has shown what an idiot he/ she is ... and is now trying to spin it that he /she has achieved something ... errrr.... yes ..... the QFI share price has gone UP ... but at a cost to QFI and its shareholders to rebutt the BS and issue a RNS, and someone should be made to pay. The intention of his / her actions over the weekend is obvious from comment 39818 to the kreature : "Have fun on Monday my "short" friend" ....it was price destabilisation .... and so I hope the book is thrown at him / her ... Oh ... and learn to write English ... what-if ... anything-is ... I guess it's a second language wherever you are ... ? My Saudi source ... hahahaha... oh dear...
20/6/2017
20:07
brookemia: as promised: Alan Hall 10 Jun (10 days ago) to Mikkel.Elbek.L., stm Maersk and Danish PM Dear Sirs, I can only presume that my recent email, has not been fully investigated, as I have had neither a reply or courteous acknowledgement of receipt. I shall await your reply by Wednesday 14th June, and then shall escalate my involvement of The MEP's to the EU yours truly Alan & Wendy Hall ​Danish PM: 9/6/2017 Dear Prime Minister, I would draw your attention to the above-named collaborative, contractually-defined arrangement between The Maersk group, and Quadrise Fuels International. I shall be as brief as possible, some time ago in 2016, Maersk approached QFI for them to conduct a trial on board The Seago Istanbul, to trial a new ground-breaking emulsion fuel, which if successful would be an innovative fuel with great benefits to the environment and to marine shipping Companies. All was going well, but with the financial muscle and power that Maersk displays and uses, QFI were not allowed to disclose much detail, because of Non-Disclosure Agreements that Maersk have and continue to impose, rather excessively it is perceived. The vessel "allegedly" hit a buoy, although with modern technology/sonar/radar and on duty watchmen, this is rather surprising? Following this "collision", QFI were informed that the vessel was to go into dry dock, with little additional details as per Maersk's cloak of secrecy. QFI were subsequently advised in March 2017 that the trial had been suspended after remaining onboard MSAR had been consumed, DESPITE Maersk confirming that thus far The Trial was a success. QFI were subsequently advised that Maersk would only use compliant fuels from 2020, and that the use of MSAR along with scrubbers-which was/is the preferred option for many in the marine fuel and refining industries, that see the use of high sulphur fuel and scrubbers as the most economic option for 2020 IMO sulphur regulations. It is more surprising as Maersk have already installed scrubbers on some vessels. Also their intended use of Low-sulphur fuel would put them at a distinct disadvantage with their competitors. Maersk's actions decimated the QFI share price and have cost many UK/International shareholders, many thousands/hundreds of thousands of pounds in financial losses, with their unilateral action. I am not sure that this would be allowed to happen in Denmark, as there would be a public outcry. We were advised that Maersk would receive the Interim Inspection LONO reports by end of May 2017. Maersk also previously confirmed that they would work collaboratively with QFI to progress the commercialisation of MSAR to the wider global Marine Industry. I would be grateful, if you would seek assurances from Maersk, that this is still the case, given their contrarian views on the product, and also how they could address the financial plight of these unfortunate Investors, that have occurred, only because of the actions of Maersk. I would ask The MEP's if this question could be raised in The European Parliament as a matter of urgency on behalf of UK Investors. Thanking you Prime Minister for taking the time to read, this unfortunate, but avoidable situation. Hi (redacted)   QFI Director Cheers, and I shall keep to my word, however is it against the rules to just let me know if an MMU is in place either now/shortly, as to how could the trial take place without one? I shall, if, in receipt of a satisfactory answer, also postpone any escalation of MEP's involvement, which might be at the least-irritating. This is not an attempt at unethical behaviour (redacted), I assure you of that. I just need to know(redacted), if my investment is safe, along with my family and whether to-if possible-increase my holdings, in order to take advantage of any possible news uplift. Strangely enough The FT financial pundit gives a year-end share price of 29.75P, now, from where did he get that little nugget? Assuring you of my word kind regards Akzo Nobel/Danish PM/Maersk Public Relations: Dear Sirs, Would you please submit this to the correct department. Please advise me as a shareholder what are Akzo-Nobel's views on the way that Maersk have dumped QFI and Akzo-Nobel, in their public "divorce" of QFI and the MSAR Trial. They have decimated the Share price and nearly brought the Company to bankruptcy. They are holding out on The Wartsila Interim Report, having publicly stated that are not pursuing MSAR and scrubber options, having had the report for a week, and obviously in possession of the true facts, as they had publicly stated that- up to the mysterious "collision" with a buoy-the trial had been a success How do you feel- as a co-partner and renowned Company of good practice about this disgraceful behaviour by Maersk. yours truly Maersk/Danish PM/7 Eastern region MEP's: Dear Sirs, It has been a week since Wartsila have issued you with their Draft report and review. You were already in possession of most of the relevant facts as you have publicly stated that it was a success until The mysterious "Buoygate" affair, where- despite a modern ship with attendant sonar, radar, and watchmen- you were unable to avoid a "collision" and unable , surprisingly-given your massive resources unable  to continue with the trial ? You subsequently publicly "divorced" QFI pronouncing to the world that you would not be adopting MSAR with scrubbers as a viable way forward. This is despite contrarian views in the Marine environment, and the fact that you have installed scrubbers on some of your ships. How can you on one hand, say publicly, that you are contractually obligated to pursue the collaboration with QFI to a satisfactory conclusion, and on the other hand reduce our Share price to its knees, and destroy thousands of shareholder dreams and aspirations. I have made initial enquiries to MEP's, and in the absence of a courtesy acknowledgement form your Danish PM, and a satisfactory reply from yourselves, I shall escalate the involvement of British MEP's, as your usual "cloak of secrecy" persists, and your stranglehold and veto of QFI's ability to release news that might help us, prohibits QFI from any public positive announcements. I am not entirely sure of regulations in Denmark, but I suspect that this kind of censure would not be tolerated. yours truly Reply from Maersk 19th June Alan,   As previously stated we refer to Quadrise communication regarding MSAR – specifically on the receipt of the Interim Letter Of No Objection, I refer to this latest announcement on 8 June by Quadrise: http://hsprod.investis.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&ir_client_id=4867&item=2816712567160832   Best regards Mikkel I have had calls from QFI-already stated-and they are not happy with my emails, I told them that I was not happy with their performance, and also the former and current Directors who have had made gains. I have tried, but a wall of silence and no reply from Danish PM or any Eastern region MEP, but Nigel Farage emailed me from Brussels, and said it was a legal issue and that we should pursue it from that perspective. I am at a loss now, but can only suggest pressure is piled on individually to QFI. regards Alan
08/6/2017
12:09
brookemia: as previously advised, this was sent to Danish PM, CEO Maersk, 7 MEP's and Qfi, Captain Kirk. Please feel free and would appreciate it being forwarded to your own MEP's(just google) UK MEP's: Dear Prime Minister, I would draw your attention to the above-named collaborative, contractually-defined arrangement between The Maersk group, and Quadrise Fuels International. I shall be as brief as possible, some time ago in 2016, Maersk approached QFI for them to conduct a trial on board The Seago Istanbul, to trial a new ground-breaking emulsion fuel, which if successful would be an innovative fuel with great benefits to the environment and to marine shipping Companies. All was going well, but with the financial muscle and power that Maersk displays and uses, QFI were not allowed to disclose much detail, because of Non-Disclosure Agreements that Maersk have and continue to impose, rather excessively it is perceived. The vessel "allegedly" hit a buoy, although with modern technology/sonar/radar and on duty watchmen, this is rather surprising? Following this "collision", QFI were informed that the vessel was to go into dry dock, with little additional details as per Maersk's cloak of secrecy. QFI were subsequently advised in March 2017 that the trial had been suspended after remaining onboard MSAR had been consumed, DESPITE Maersk confirming that thus far The Trial was a success. QFI were subsequently advised that Maersk would only use compliant fuels from 2020, and that the use of MSAR along with scrubbers-which was/is the preferred option for many in the marine fuel and refining industries, that see the use of high sulphur fuel and scrubbers as the most economic option for 2020 IMO sulphur regulations. It is more surprising as Maersk have already installed scrubbers on some vessels. Also their intended use of Low-sulphur fuel would put them at a distinct disadvantage with their competitors. Maersk's actions decimated the QFI share price and have cost many UK/International shareholders, many thousands/hundreds of thousands of pounds in financial losses, with their unilateral action. I am not sure that this would be allowed to happen in Denmark, as there would be a public outcry. We were advised that Maersk would receive the Interim Inspection LONO reports by end of May 2017. Maersk also previously confirmed that they would work collaboratively with QFI to progress the commercialisation of MSAR to the wider global Marine Industry. I would be grateful, if you would seek assurances from Maersk, that this is still the case, given their contrarian views on the product, and also how they could address the financial plight of these unfortunate Investors, that have occurred, only because of the actions of Maersk. I would ask The MEP's if this question could be raised in The European Parliament as a matter of urgency on behalf of UK Investors. Thanking you Prime Minister for taking the time to read, this unfortunate, but avoidable situation.
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