Quadrise (AIM: QED)

Last close As at 20/06/2024

GBP0.02

−0.03 (−1.26%)

Market capitalisation

GBP42m

Quadrise is the innovator and global supplier of disruptive refinery upgrading 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.

Quadrise is still pre-revenue and reported a loss of £1.7m for the six months ending 31 December 2023. At end H124, net cash stood at £1.7m. Quadrise raised gross proceeds of £1.5m from a placing offer and a further £1.0m from an open offer (before expenses); alongside the potential revenue ($1.5m) from Valkor, the total proceeds could extend funding past Q1 CY25.

Latest Insights

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Industrials | Update

Quadrise — Funding the gap to commercial revenues

Industrials | Flash note

Quadrise — Tests identify new pathway to bioMSAR Zero

Industrials | Update

Quadrise — Closer to commercial revenues

Sector

Industrials

Equity Analyst

Andrew Keen

MD - Head of Content, Energy & Resources, Industrials

Harry Kilby

Analyst

Key Management

  • Andy Morrison

    Chairman

  • David Scott

    Head of Finance

  • Jason Miles

    CEO

  • Quadrise Vigo Consulting

    Chairman

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 65.8 90.3 47.9
Relative 69.9 79.7 36.8
52 week high/low 3.1p/0.6p

Financials

Quadrise continues to advance options towards commercialisation of its technology, with each of is projects nearing significant key milestones. Preparatory steps for the MSC fuel trials are now complete and fuel supply agreements are nearing finalisation. Quadrise recently announced an agreement with Cargill group and MAC2 Solutions regarding the production of MSAR and bioMSAR fuels for the company’s forthcoming marine vessel trials. On successful completion of the trials and completion of a long-term fuel supply agreement, the parties plan to seek to initiate commercial bunker supply operations to the marine sector.

Y/E Jun Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2022A 0.1 (2.7) (2.8) (0.19) N/A N/A
2023A 0.0 (3.0) (3.1) (0.21) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

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