Quadrise PLC (AIM:QED) still has huge potential ahead as it advances key commercial projects, stockbroker Shore Capita said in a note.
It comes as talks continue with MSC and Cargill regarding the planned marine fuel trial, as communicated by the small-cap ahead of today's AGM..
The sea trial, originally based on a three-way agreement signed in November 2024, is delayed due to MSC’s request to include post-trial commercial supply considerations and associated logistical complexity. However, Shore Capital said the company is in a stronger position after recent management appointments.
“We continue to see huge potential for Quadrise’s fuels and are encouraged by the appointment of Peter Borup as CEO, along with other executives who bring a wealth of experience and opportunities for Quadrise,” the broker said.
Shore Capital added that the IMO’s decision to delay mandatory net-zero shipping regulations to October 2026 may favour immediate-use fuels like MSAR.
The broker also noted that Valkor has secured the funding to progress its pilot plant, ensuring Quadrise should receive $1.5 million in staged payments by mid-2026.
Quadrise is also progressing commercial discussions in Panama and Morocco, and advancing testing for new biofuel products.