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Quadrise Fuels International PLC secures new investment to accelerate testing and


The investment provides funding to mid-2021 and “important flexibility to progress planned bioMSAR testing and development activities that might otherwise have been deferred,” said chairman Mike Kirk

() said it has raised £500,000 from the sale of convertible securities to existing investor Bergen, providing funding to the middle of 2021.

The proceeds of the investment will allow the company to accelerate activities relating to the testing and development of its bioMSAR biofuel and early-stage work under the new joint development agreement with MSC Mediterranean Shipping Company in its fleet of commercial container vessels.

Last week Quadrise revealed that initial testing confirmed bioMSAR as a viable diesel engine fuel, with higher efficiency and 20-25% lower NOx compared to baseline testing on diesel in test conditions on a high-speed engine.

Mike Kirk, chairman of Quadrise, hailed Bergen for their investment over the last 18 months.

“Concluding this second and final investment from Bergen provides Quadrise with funding to mid-2021 and important flexibility to progress planned bioMSAR testing and development activities that might otherwise have been deferred,” he said.

“We will now be accelerating this work, alongside our activities related to the JDA with MSC to progress the LONO trial(s) planned to commence later this year.

“With our exciting portfolio of projects and this additional funding, the company is in a strong position and we look forward to providing further updates on progress in the months ahead.”

This second investment from Bergen concludes its ability to invest in Quadrise under the existing agreement and no further convertible securities will be issued pursuant to it, the company added.



Read More: Quadrise Fuels International PLC secures new investment to accelerate testing and

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