Quadrise plc (LON:QED), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, has announced its audited final results for the year ended 30 June 2023.
The Company also gives notice that the Company’s Annual General Meeting will be held at 12 noon on 27 November 2023 at the Park Plaza County Hall Hotel, 1 Addington Street, London, SE1 7RY.
Operational Summary:
· Marine – Following the completion of key preparatory steps for the Proof-of-Concept and Letter Of No Objection (“LONO”) commercial trials on bioMSAR™ with MSC Shipmanagement during the year, Quadrise intends to conclude agreements with project stakeholders, which include a major global trading company, as soon as possible. Quadrise equipment will be installed and commissioned at the bunker terminal site ahead of the commercial-scale Proof-of-Concept and LONO trials on bioMSAR™, which are expected to commence in Q1 2024 provided the relevant permits are received in time.
· Morocco -The industrial demonstration test at the client site in Morocco is now expected to be completed in October 2023, following the installation and commissioning of a replacement pump and maintenance of the client’s commercial unit during September. The client remains supportive of the Company’s efforts to progress the commercial trial. Upon successful conclusion of the trial, the parties will enter into discussions for potential commercial supply, in addition to concluding agreements for testing at other client sites as required.
