RCS - Quadrise PLC - Quadrise-Vertoro JDA to sea-trial bioMSAR Zero

QuadriseAnnouncement

02/05/2024 07:00

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RNS Number : 9141M  Quadrise PLC  02 May 2024

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                                        +44 (0)20 3005 5000

 Andrew Raca (Corporate Finance)

 Andrew Monk (Corporate Broking)

 Public & Investor Relations
 Vigo Consulting                                            +44 (0)20 7390 0230

 Patrick D'Ancona

 Finlay Thomson

Peter Jacob

 

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 (http://www.quadrise.com/)

 

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