Shares of Quadrise PLC (AIM:QED) rose 18% in the first hour of trading after the company announced a partnership with Finland’s Auramarine to advance greener fuel technologies for the marine industry.
The collaboration will combine Quadrise’s cleaner fuels, MSAR and bioMSAR, with Auramarine’s expertise in fuel systems to help ships transition to lower-emission solutions.
The partnership aims to reduce emissions, improve efficiency, and support the shipping industry in meeting stricter environmental standards. Both companies will share commissions from sales or financing generated under the agreement.
Quadrise CEO Jason Miles said the collaboration aligns with the company’s strategy to decarbonise shipping by leveraging Auramarine’s extensive experience and network to accelerate the adoption of sustainable marine fuel solutions globally.
House broker Shore Capital, in a note to clients, said: "We are pleased to see this collaboration, which leverages Quadrise’s expertise in lower carbon fuels with Auramarine’s fuel supply system design and installation expertise.
"The latter will help convert marine vessels globally to Quadrise’s MSAR and bioMSAR fuels."
Quadrise stock was changing hands for 2.30p, up 0.35p.