• Develops MSAR heavy fuel oil substitute
• Has signed memorandum of agreement with Saudi investment group
• Agency agreement to accelerate use of MSAR in Mexico
What Quadrise does
If someone asks you to list the major causes of climate change, gas guzzling cars and planes are probably at the top of your list, or at least somewhere near.
But if you think those forms of transport are bad, they are a drop in the ocean compared with cruise liners and cargo ships.
Engines in some of the world’s biggest vessels can be four stories tall and almost as wide. They can burn through gallons of fuel every minute, which in turn creates a large amount of CO2.
International shipping accounts for around 2.2% of all global greenhouse gas emissions, according to the data from the UN’s International Maritime Organisation (IMO). To put that into context, that’s the same amount as Germany.
MSAR is made from the thick, almost solid residues left when lighter fractions such as gasoline and diesel have been distilled from the crude oil which are then mixed with a small amount of water and specialty chemicals.
What’s created is a synthetic heavy fuel oil which is around one-third water. With a couple of simple, relatively cheap tweaks to a ship’s engine or a power station’s boiler, it can be used as a direct replacement for diesel or heavy fuel oil.
Because of the high-water content, the combustion temperature is much lower which reduces NOx emissions, and as MSAR is pre-atomised, it burns almost completely, meaning next to no black soot is pumped out into the atmosphere.
Not only is it cleaner – it reduces nitrogen oxide (NOX) emissions by between 20-50% - but MSAR, being made from quite literally the dregs of a barrel, is also cheaper than typical heavy fuel oils as well.
• In June, Quadrise inked an agency agreement with industrial infrastructure firm Redliner to fast-track projects for its MSAR technology in the Mexican market
• In May the company pencilled a partnership deal with Saudi Arabia-based Al Khafrah Holding Group, an investment group which has a portfolio comprising 42 industrial companies employing 45,000 people, with partners in the oil, gas and petrochemical sectors that include Air Liquide and Gulf Chemicals & Industrial Oils
Executive chairman interview - Mike Kirk
Looking to 2019, Kirk said that the plan is to take on a project and progress it, which would give him something to point to when he’s looking to get other projects off the ground. The thinking goes that as soon as one customer starts using MSAR, others will follow suit.
“What we’re looking to do during 2019 is take us from where we are now, which we believe is a company that’s always had great promise but has failed to deliver on that, to actually taking at least one of the projects that we’re working on forward, either on our own or with our partners.”
With a fund-raise in January bringing in some much-needed cash, which gives the company some financial breathing room, Kirk is confident that 2019 will be the year when Quadrise makes the transition from talker to doer.
“We believe we have got to a position where we can actually start to deliver on our promises.”
With the shares trading at around 4.5p as of 11 June 2019, Quadrise carries a market cap of £37.6mln.