Quadrise PLC (AIM:QED) chief executive Jason Miles told investors that key projects are now nearing important milestones on their pathways to commercialisation.
“The time for Quadrise technology delivery is now and the whole team is determined to achieve this goal,” Miles said in a statement today ahead of the company’s AGM.
Quardise, in the statement, detailed its advancements in its marine, industrial and US low-carbon fuel initiatives.
Quadrise expects to sign a binding agreement for trials with MSC Shipmanagement Ltd and Cargill by the end of 2024, making for a major catalyst in the marine sector.
Proof-of-concept tests for its MSAR and bioMSAR technologies are scheduled for the first quarter of 2025.
Quadrise also highlighted the expected upcoming launch of its B100 bioMSAR Zero product, a fully sustainable biofuel, ahead of schedule.
Meanwhile, the company’s OCP in Morocco is nearing the trial phase, with all equipment and chemicals on site, pending final production schedules.
The company noted progress in its Southeast Asia and Central America ventures, with agreements for trials expected early in 2025.
The company continues to expand its business outreach to engage with potential clients and partners across various sectors, including shipping and industrial applications.
During the period, Quadrise’s testing of its B55 bioMSAR blend demonstrated enhanced diesel engine efficiency by 7%, reduced NOx emissions by 59%, and delivered a 38% reduction in CO2 emissions compared to conventional diesel.
With several projects advancing, and potential value catalysts stacked in the pipeline, investors continue to keenly await the commercial breakthrough that promises to transform the company’s share price.
"Whilst progress during the last 12 months has been slower than had been anticipated at the last AGM, time has been well spent with each of the company's key projects now nearing important milestones on their pathways to commercialisation,” Jason Miles said.
He added: “The time for Quadrise technology delivery is now and the whole team is determined to achieve this goal.
“On behalf of the board, I would once again like to thank our loyal shareholders for their continued support, and I look forward to seeing many of you at the AGM in person."