Quadrise latest funding could see it raise up to £3.25mln in its latest funding round, notes house broker Shore Cap.
The group’s proprietary fuels have the ability to significantly reduce both fuel costs and emissions and make the transportation and handling of fuel easier versus conventional heavy fuel oil and no significant adaptions to equipment are required for their usage.
If only a small percentage of the shipping company partner MSC’s overall fuel demand was switched to Quadrise’s MSAR or bioMSAR the opportunity in the marine sector alone could be worth a multiple of its current enterprise value in potential annual revenues, notes the broker.
MSC currently consumes close to 10m tonnes of fuel oil annually and Shorecap believes Quadrise could charge US$50 per tonne for licensing its technology.