Quadrise PLC (AIM:QED) confirmed it has raised a further £400,000 through its retail offer, to take gross proceeds from its latest equity fundraising to around £1.6 million.
The lower-emission fuels developer, in an RNS, said it will issue 40.4 million shares via the retail offer, priced at 1p apiece,
It follows the issue of 120 million shares through its placing and subscription, which were admitted to AIM on 10 July.
Earlier this month, Quadrise told investors that proceeds from the fundraise will support commercial marine trials with MSC and Cargill, including work towards an MSAR and bioMSAR supply hub in Antwerp, as well as projects with OCP in Morocco, Valkor in Utah and industrial power opportunities in the Americas.
