02 May 2024
Quadrise Plc
("Quadrise" or the "Company")
Quadrise and Vertoro commit to accelerating sea-trials of sustainable marine fuels
Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, provides an update on its Joint Development Agreement ("JDA") with biofuel specialists, Vertoro BV ("Vertoro"). Quadrise has been collaborating with Vertoro since September 2022 to incorporate their novel and cost-effective sustainable biofuels in bioMSAR™.
Following the successful production and testing of stable blends of bioMSAR™ containing up to 40% of Vertoro's crude sugar oil (CSO™) at pilot scale, the Company and Vertoro have now agreed to extend the scope of the JDA to include the development of bioMSAR™ Zero incorporating CSO™ for testing at sea on-board a newly-designed prototype motor yacht.
The motor yacht will be built for Vertoro by Focus Motor Yachts under a recently announced collaboration between the two parties to develop a new sustainable fuel for luxury yachts. The yacht's fuel system and engines will be designed to run on fuels produced using the Company's bioMSAR™ Zero technology to combine CSO™ and other biofuels. Under the JDA, a land based testing programme to investigate the performance of both premixed and blend-on-board bioMSAR™ Zero solutions will be carried out prior to testing on board the yacht.
Commenting on the update, Jason Miles, CEO of Quadrise, said:
"While we continue to focus on moving our current projects towards revenues, it is also important that we progress our efforts towards longer term zero emissions solutions. Quadrise is pleased, therefore, to extend its JDA with Vertoro to accelerate the development of bioMSAR™ Zero on board a Focus Motor Yacht. This innovative approach together with a leading yacht builder will help deliver and advance our joint net-zero ambitions for the future."
Commenting on the update, Michael Boot, Co-CEO of Vertoro, said:
"Vertoro is excited to extend our collaboration with Quadrise to meet the needs of an ever-growing environmentally-conscious yachting community. Our innovative Focus Motor Yacht will be a living laboratory and validation unit to accelerate access to lower cost marine biofuels for luxury yachts, providing a real showcase for the commercial shipping and yachting industry. More exciting news is expected in the coming year!"
For additional information, please contact:
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Quadrise Plc |
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+44 (0)20 7031 7321 |
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Andy Morrison, Chairman Jason Miles, Chief Executive Officer |
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Nominated Adviser |
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Cavendish Capital Markets Limited |
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+44 (0)20 7220 0500 |
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Ben Jeynes |
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Katy Birkin |
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Joint Brokers Shore Capital Stockbrokers Limited |
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+44 (0)20 7408 4090 |
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Toby Gibbs, Rachel Goldstein (Corporate Advisory) |
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Fiona Conroy (Corporate Broking) |
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VSA Capital Limited Andrew Raca (Corporate Finance) Andrew Monk (Corporate Broking) |
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+44 (0)20 3005 5000 |
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Public & Investor Relations |
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Vigo Consulting Patrick D'Ancona Finlay Thomson |
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+44 (0)20 7390 0230 |
About Quadrise
Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels and biofuels, providing innovative solutions to reduce energy costs and greenhouse gas emissions today for clients in the global power generation, shipping, industrial and refining industries.
Learn more at: www.quadrise.com
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