Quadrise PLC (AIM:QED) reported interim results which underlined to investors the multiple value catalysts that are just on the horizon for the alternative fuel firm.
Attentions remain focussed primarily on a pair of separate commercial trails – one in marine shipping, with MSC and Cargill, and another at a power project in Panama.
These hotly anticipated trials are due to officially get underway before the end of the current financial year, i.e. before the end of June.
Success in these trials promises to unlock not only commercial orders but also significant broader commercial-scale opportunities.
Chief executive Jason Miles told investors that the near-term focus at Quadrise is on project execution, whilst preparing for a “rapid expansion” of its operations.
"Quadrise's technology offering is strategically positioned at a crucial moment for the marine industry,” Miles said.
He highlighted that new EU regulations and new measures by the International Maritime Organization (IMO) are expected to accelerate decarbonisation in the shipping sector, and, that creates new opportunities for efficiency improvements and sustainable biofuels – such as its MSAR and bioMSAR fuels.
"Today the industry needs practical, scalable, and cost-effective solutions for immediate emissions reductions,” Miles added.
“Quadrise is well positioned to meet this need, offering drop-in fuel solutions for existing fleets with minimal investment and offering extended asset life with reduced costs and emissions.”
Financials
Ahead of the pending trials and anticipated scale-up of Quadrise, the actual financial results for the half take something of a backseat.
Nonetheless, Quadrise reported a loss after tax of £1.70 million for the six months ended 31 December 2024, in line with the same period a year before.
In January, the company raised £6.5 million, and, Quadrise said that by the end of February, its cash position was £7.1 million.