Business
Interim Results and Investor Presentation
Interim Results and Investor Presentation.
About this update from Quadrise Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n24 March 2025\nQuadrise Plc (\"Quadrise\" or the \"Company\")\n \nInterim Results and Investor Presentation\nQuadrise Plc (AIM: QED), the transition technology provider for a cleaner planet, announces its unaudited interim results for the six months ended 31 December 2024 (\"H2 2024\") and provides an update on developments during the first quarter of 2025.\nChairman Andy Morrison, CEO Jason Miles and CFO David Scott will provide a live presentation relating to the interim results via the Investor Meet Company platform on 25 March 2025 at 12:00 noon GMT - registration details are outlined below. \nFINANCIAL SUMMARY\n· £6.5 million (before costs) raised in January 2025 through a successful placing and retail offer, increasing cash reserves to £7.1 million at 28 February 2025 (31 December 2024: £1.4 million, 31 December 2023: £1.7 million).\n· H2 2024 loss after tax of £1.7 million (H2 2023: £1.7 million). This includes production and development costs of £0.8 million (H2 2023: £0.9 million) and administration expenses of £0.9 million (H2 2023: £0.7 million).\n· Total assets of £5.2 million at 31 December 2024 (31 December 2023: £5.4 million).\nBUSINESS SUMMARY\nThe Company's strategy is to generate demand within the shipping industry and other sectors, while stimulating the supply of its fuels around global marine bunkering hubs. The Company's projects are designed to fulfil this strategy, with progress in each of these during the period outlined as follows:\nDecarbonisation of shipping: MSC\n· In November 2024, a Collaboration and Operational Trial Agreement was signed with MSC and Cargill, committing the parties to complete trials on board an MSC vessel to obtain a Letter of No Objection ('LONO') from engine manufacturer Wärtsilä upon success.\n· Work is now well underway to prepare the Quadrise trial equipment ahead of installation and comm...