Quadrise rose by 5% as the alternative fuel developer added another top name to the growing roster of companies interested in its MSAR products.
Morocco-based fertiliser and phosphate giant OCP is the latest to announce a trial, following global shipping concern MSC and Cargill, the crops and food transportation business.
MSAR and its biofuel sister product have been designed to reduce the huge emissions pumped out by the shipping business and help its transition to greener alternatives.
House broker ShoreCap has said: “The company’s opportunity in the marine sector with MSC alone could be worth a multiple of its current enterprise value in potential annual revenues if only a small percentage of the shipping company’s overall fuel demand switched to MSAR or bioMSAR”.
Under the OCP agreement, Quadrise will identify suppliers capable of producing MSAR to meet demand.
Additionally, Quadrise will update the technical, economic, and feasibility study for converting OCP’s Jorf Lasfar site to MSAR consumption.
Shares rose 0.07p to 1.55p.