Quadrise Fuels International (QFI)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

2.23p
   
  • Change Today:
      0.025p
  • 52 Week High: 6.35
  • 52 Week Low: 1.98
  • Currency: UK Pounds
  • Shares Issued: 1,406.90m
  • Volume: 1,110,509
  • Market Cap: £31.30m
  • RiskGrade: 608
  • Beta: 0.10

Quadrise pleased with latest engine testing of products

By Josh White

Date: Wednesday 11 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Alternative, 'clean' fuel technology company Quadrise updated the market on the testing of its 'bioMSAR' product on a medium speed four-stroke Wärtsilä diesel engine at the VTT facility in Finland on Wednesday, as well as the planned performance and emissions testing with Aquafuel.
The AIM-traded firm said a "comprehensive" suite of tests had been completed on the Wärtsilä engine using 5mt of bioMSAR fuel produced at Quadrise Fuels.

It said the engine was the same generic type previously used for the testing of 'MSAR', though it had since been modified for dual fuel operation, which required further work to enable comparison with the earlier MSAR test results.

The final bioMSAR test results showed that, compared to liquid fuels, it had greater-than-expected calculated carbon dioxide savings, with reductions of between 26% and 28%.

It also saw engine efficiency increased by up to 7%, with "highly efficient" combustion evidenced by low nitrous oxide, carbon monoxide, particulate and soot emissions.

The carbon dioxide savings delivered by existing biofuels were more typically in the region of 10% to 15%, the company said, adding that bioMSAR's formulation could be adjusted to provide a customer's required savings at the lowest cost.

It said the results of the test had been shared with MSC, with an update on the MSC trial programme to be provided in due course.

Additionally, Quadrise said that, following successful initial tests reported in February, modifications were carried out by Aquafuel on the Cummins four-stroke, high-speed diesel engine generating set, to allow "very accurate" performance monitoring, optimisation and measurements to be made.

Those modifications were now complete, and the further 'bioMSAR' testing to optimise emissions and engine performance would be carried out at Aquafuel from later in August.

Quadrise said it would be attending the tests at the Aquafuel site, and some of the work woul;d be included in the final segment of filming for its contribution to the UK Chamber of Shipping's 'Making Waves: The Future of Shipping' programme, to be launched on 13 September as part of London International Shipping Week.

It said it expected the results of further testing at Aquafuel to be available by the end of September.

"We are very pleased to share the positive bioMSAR test results - especially those relating to carbon dioxide reductions and higher efficiencies," said chairman Mike Kirk.

"Quadrise is making great progress on bioMSAR testing and development.

"This work is crucial in enabling Quadrise to offer customers a lower cost renewable fuel solution, alongside our existing MSAR fuel, and we look forward to sharing further information with shareholders during the third quarter."

At 1442 BST, shares in Quadrise Fuels International were up 5.37% at 3.53p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

QFI Market Data

Currency UK Pounds
Share Price 2.23p
Change Today 0.025p
% Change 1.14 %
52 Week High 6.35
52 Week Low 1.98
Volume 1,110,509
Shares Issued 1,406.90m
Market Cap £31.30m
Beta 0.10
RiskGrade 608

QFI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.21% below the market average36.21% below the market average36.21% below the market average36.21% below the market average36.21% below the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average
Price Trend
78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average
38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average
Income Not Available
Growth Not Available

QFI Dividends

No dividends found

Trades for 21-Jan-2022

Time Volume / Share Price
16:22 100,000 @ 2.20p
16:14 43,730 @ 2.27p
15:25 3,215 @ 2.15p
14:54 1,106 @ 2.16p
14:09 50,000 @ 2.16p

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