Quadrise PLC (AIM:QED) has hired Tony Foster, a senior executive in the shipping finance sector, as non-exec director.
Foster brings to the board experience across the industry including prior roles in broking, operations, ship management, and shipowning, as well as being part of the pre-IPO team of Hong Kong listed bulk shipping company Pacific Basin Shipping
He is currently chief executive of Marine Capital, overseeing shipping investments and operations with a focus on decarbonisation.
“I'm delighted to welcome Tony to the Quadrise team. With decades of experience in the marine sector, Tony brings an unparalleled depth of expertise to our organisation," Quadrise chair Andy Morrison said.
“His proven track record in building and leading successful maritime businesses, combined with his innovative approach to shipping investment and decarbonisation, aligns perfectly with our vision for Quadrise as we plan for the future scale-up of the business."
It comes as Quadrise is advancing a venture with MSC and Cargill, which will see the small-cap firm’s cleaner diesel-alternative shipping fuel undergo vital sea trials. This is one of a number of commercial trials of the MSAR and BioMSAR fuels being undertaken in different industries.
Earlier this month, Quadrise raised close to £6 million in new capital which is expected to see it ‘fully funded’ through the transition from customer trials to commerciality.