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:
|
Quadrise Plc
|
|
+44 (0)20
7031 7321
|
|
Andy Morrison, Chairman
Jason Miles, Chief Executive
Officer
|
|
|
|
|
|
|
|
Nominated
Adviser
|
|
|
|
Cavendish Capital Markets Limited
|
|
+44 (0)20
7220 0500
|
|
Ben Jeynes
|
|
|
|
Katy Birkin
George Lawson
|
|
|
|
Joint
Brokers
Shore Capital Stockbrokers Limited
|
|
+44 (0)20
7408 4090
|
|
Toby Gibbs, Rachel
Goldstein (Corporate Advisory)
|
|
|
|
Fiona Conroy (Corporate
Broking)
|
|
|
|
|
|
|
|
VSA
Capital Limited
Andrew Raca (Corporate
Finance)
Andrew Monk (Corporate
Broking)
|
|
+44 (0)20
3005 5000
|
|
|
|
|
|
Public & Investor
Relations
|
|
|
|
Vigo Consulting
Patrick D'Ancona
Finlay Thomson
Peter Jacob
|
|
+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