Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) (QFI) has told shareholders ahead of the company's Annual General Meeting (AGM) which commences on Friday, November 24, 2022, at 12.00pm, that it expects to achieve commercial revenues in its current financial year.
The supplier of innovative energy solutions noted that throughout its financial year ended 30 June 2022 and since the period end, it has seen material progress across its portfolio of international projects, and that commercial revenues will be achieved with the advancement of these projects.
In a statement, Jason Miles, chief executive officer of QFI, commented: "During the period we have made substantial progress with each of our key projects, whilst also positioning ourselves to be one of the key decarbonisation solution providers in a rapidly changing global energy market, as set out in our recent inaugural Sustainability Report.
"The pace of decarbonisation and the escalating price of energy is creating a significant opportunity to commercialise our innovative fuel and biofuel solutions, as they offer clients the ability to reduce energy costs and greenhouse gas emissions immediately to help them accelerate the transition to net-zero."
He added: "The company is entering a notably exciting period, with the progression of our core projects expected to deliver commercial revenues in the current financial year. Beyond these projects, we continue to invest and collaborate in research and development to enhance our intellectual property portfolio and advance our decarbonisation technologies to ultimately deliver net-zero carbon solutions by 2030."
Quadrise is the supplier of MSAR and bioMSAR emulsion technology, fuels and biofuels, which provide innovative solutions to reduce energy costs and greenhouse gas emissions for clients in the global power generation, shipping, industrial and refining industries.
At the conclusion of the AGM, the company said it will provide a business update presentation to shareholders present at the venue and online via the Investor Meet Company (IMC) platform for which interested parties can register via: www.investormeetcompany.com/quadrise-fuels-international-plc/register-investor.