Quadrise - profile image - oil-rig28112019

Quadrise Fuels International

LN: QFI

Market Cap£31.3m

Last Close 2.23p

Quadrise Fuels International is the innovator, supplier and global licensor of disruptive oil technology that produces a synthetic, enhanced heavy fuel oil called MSAR and a biofuel called bioMSAR. The technology provides a low cost and cleaner fuel for marine, power and industrial applications.

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Investment summary

During FY21 Quadrise made significant progress on trials in each of its target sectors: industry, marine, upstream and power; and launched a bio-fuel branded as bioMSAR. Progress has been slower than management expected, primarily because of COVID-19 restricting travel and site access. Despite the programme delays, management expects it has the cash resources to progress the ongoing trial programmes to commercial revenues and positive sustainable cash flows by CY Q123.

Y/E Jun
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 0.0 (3.0) (3.3) (0.32) N/A N/A
2021A 0.0 (2.8) (2.8) (0.23) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A
Industry outlook

Quadrise is still pre-revenue. Stripping out share option and exceptional charges, operating losses narrowed by £0.3m y-o-y in FY21 to £2.9m, reflecting lower administrative costs. Free cash outflow decreased by £0.6m to £2.4m. Quadrise completed a placing and oversubscribed open offer in March, raising £7.0m (gross) at 2.7p/share, leaving the group with £7.0m cash, no debt and no convertible securities at end FY21.

Last updated on 21/01/2022
Content on Quadrise Fuels International
Quadrise Fuels International – Cleaner fuel, cleaner planet
Industrials | Outlook | 30 November 2021
Quadrise - profile image - oil-rig28112019
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (12.8) (37.5) (22.9)
Relative* (14.2) (39.2) (30.5)
52-week high/low 6.3p/2.0p
*% relative to local index
Key management
Jason Miles CEO
David Scott Group Financial Controller
Mike Kirk Executive Chairman