Quadrise PLC (AIM:QED) has highlighted a year in which, despite some more recent delays, the firm ended the year in a stronger position with improved resources and a clearer route to commercialisation.
Today, Quadrise released the date ahead of its annual general meeting.
Progress continued across the company’s marine, industrial and Americas projects, Quadrise said.
Finalising trial agreements with MSC and Cargill has taken longer than expected due to commercial complexities. However, all parties remain committed, and equipment for the MAC² trial is ready for shipment. The successful trial with Sparkle Power in Panama also marked the first use of MSAR and bioMSAR™ on four-stroke engines.
In Utah, Quadrise signed an addendum with Valkor due to slower-than-expected output, agreeing to revised payment milestones and equipment delivery timelines. The company received an initial US$50,000 of a US$1.0 million license fee and expects further instalments in 2026. Valkor has secured funding for drilling and expects pilot operations in Q2 2026.
“We obviously would have liked to have more to say about progress of the Company's main projects. However, we have taken advantage of the successful fundraising to significantly increase our experience base and capacity to improve our marine project management and the commercialisation of our unique technology,” said Peter Borup, Chief Executive Officer of QED.