Quadrise plc (LON:QED), listed on the AIM market under QED, has recently unveiled exciting developments in its innovative marine fuel project. The company has finalised agreements with industry giants MSC and Cargill to begin trials on the MSC Leandra. These trials are a critical step toward obtaining the much-coveted Letter of No Objection (LONO) from Wartsila, a milestone that promises to open significant commercial opportunities.
The MSC Leandra is set to embark on a rigorous two-stage trial. An initial proof-of-concept trial will run for two months, followed by a comprehensive 4,000-hour test over six to eight months. Cargill will provide the feedstock for the trials, while MSC contributes the vessel. According to Quadrise, interim results during the process may yield a preliminary LONO, demonstrating the project’s steady progress.
Oliver O’Donnell, CFA, Natural Resources Analyst at VSA Capital, expressed confidence in this breakthrough. He stated:
“We expect that this announcement should give the market confidence that the trials are now really going to start, which should provide support for the share price. We reiterate the importance of these trials and obtaining the LONO as not only does this open up MSC’s internal market of 790 vessels, subject to a commercial agreement, but it will aid sales to other users of Wartsila engines globally.”
