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Piscator1 the purchase is mine. I'm currently in the US on a beach and bored. The purchase is against my better judgement I will probably regret the purchase but time will tell. I'm not really expecting any exciting news before the AGM and nothing fundamental to change within the next few month. On the news we hope to get within the month the sp may move a few pennies (no big deal) MSC I think has less than 50% being successful but its worth the gamble.
Some nice late volume today
Hopefully some good updates very soon... just bought another £15,000
This update could have been given anytime in the last 2 weeks yet the BOD decided on the last day of the month in the last few hours. The games continue and my faith goes further down .....
After many years of support I have lost interest in QED.
For many years every morning at 7am I would check for an RNS with excitment. I know longer have an excitement or expectation on were these projects are going
I have always hoped one of the many project would generate revenue.
In recent years none of the project seem to have any momentum
The board just dont know what to say about the BOD???
I have managed to sell 2/3 of my holding when the sp was 2-3p I still hold 4-5m shares with the hope one day something will happen. I will not hold my breath.
I think the marketing over the years has been mis directed
Communication appalling
Published timeing on project..very misguided with no contingency
I find it hard to believe this company has spent nearly £50m over a long period and have no revenue Just think about that?
Methane Abatement in Maritime Innovation Initiative MSC is collaborating with
others to conduct a study to monitor, measure and help abate methane emissions in the maritime supply chain.
further to initial exploratory discussions in 2020, MSC entered into a partnership with fuel supplier Quadrise in 2022
whereby MSC vessels will be used for proof of concept tests and operational trials using oil-in-water emulsion fuels
bioMSAR™ and MSAR® – producing 25% less nox and lower Co2 emissions – for potential adoption.
Through MSC’s Memorandum of Understanding with the
69 page report published by MSC we have the above on page 42 clearly a very important part of MSC future!!!
AKHM.....Sit back and think about what you are saying or look back 1,2,3,4 years nothing has really happened. The BOD have done an appalling job of getting any of these projects over the line with promise after promise. Their are no commercials to date If you do look back over the last 4 years every page on this boards talkabove lets give the BOD another quarter its all just around the corner simular to what you are saying. The BOD have lost all credibility which is why the recent funding was massively undersubscribed.
I dont believe the SP will not be in double digits anytime soon. Ultimately the real game changer is MSC fuel supplier agreement which must be a couple of years away minimum should everything go to plan. I would ask if its that important to MSC why have they taken so long to date? The facts are the facts they are in on hurry
Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, is pleased to announce the appointment of Vicky Boiten-Lee (also known as Vicky Su Yin Lee) as Non-Executive Director with immediate effect.
Vicky has more than 20 years of international experience in the energy sector with Shell. She spent 10 years working in South East Asia and the balance working out of London covering global businesses across Europe, North America, China, and Asia. Between 2015 and 2021, Vicky led Shell's global marketing for automotive lubricants and downstream fuels, including Shell's entry into Electric Vehicle fast-charging. She focuses on delivering value from the transition to net zero and has led organisational transformations accelerating the growth of lower-carbon fuels, developing circular supply chains, and reducing the cost of compliance.
So from Ju;y we had £3,240,000 burning Approx £260,000 monthly
· Loss after tax of £3.1m (2022: £2.6m), of which of £1.7m (2022: £1.5m) is attributable to production and development costs and £1.3m (2022: £1.4m) relates to administrative and corporate expenses.
· Total assets of £5.0m as at 30 June 2023 (2022: £8.0m).
· Cash balances as at 30 June 2023 of £1.3m (2022: £4.4m). An additional £1.94m (gross) was raised in July 2023 via a placing and open offer.
· Cumulative tax losses of £62.1m (2020: £60.0m) potentially available for set-off against any future profits.
· Marine - Following the completion of key preparatory steps for the Proof-of-Concept and Letter Of No Objection ("LONO") commercial trials on bioMSAR™ with MSC Shipmanagement during the year, Quadrise intends to conclude agreements with project stakeholders, which include a major global trading company, as soon as possible. Quadrise equipment will be installed and commissioned at the bunker terminal site ahead of the commercial-scale Proof-of-Concept and LONO trials on bioMSAR™, which are expected to commence in Q1 2024 provided the relevant permits are received in time.
· Morocco -The industrial demonstration test at the client site in Morocco is now expected to be completed in October 2023, following the installation and commissioning of a replacement pump and maintenance of the client's commercial unit during September. The client remains supportive of the Company's efforts to progress the commercial trial. Upon successful conclusion of the trial, the parties will enter into discussions for potential commercial supply, in addition to concluding agreements for testing at other client sites as required.
· Utah - Valkor Technologies LLC ("Valkor") has informed the Company that it expects to conclude project financing relating to their primary project site at in Utah in Q4 2023. Provided a minimum of US$15 million is successfully raised, Valkor will pay Quadrise US$1.0 million under the terms of the Site License and Supply Agreement signed in June 2023. The Agreement was amended in August 2023 in order to remove conditionality with regard to Valkor's receipt of drilling permits. A further US$0.5 million is due from Valkor upon delivery of an MSAR® Manufacturing Unit to the project site in Utah, again, subject to Valkor's receipt of the minimum project financing.
· bioMSAR™ - In June 2023, Quadrise signed a Joint Development Agreement with BTG Bioliquids to investigate the use of their propriety pyrolysis bio-oil (FPBO) as an alternative biofuel feedstock for bioMSAR™. In addition, Quadrise successfully produced stable blends of bioMSAR™ containing up to 40% of Vertoro's crude sugar oil (CSO™) at pilot scale at the Company's research facility. This demonstrated improved engine efficiency, and lower NOx and particulate emissions upon combustion when compared to conventional diesel. Further testing is also ongoing with other biofuels suppliers.
The Company's Annual General Meeting ("AGM") will be held at 12 noon on 27 November 2023 at the Park Plaza County Hall Hotel, 1 Addington Street, London, SE1 7RY.
Vince72
If you look back over the years each time the BOD announce a funding the weeks before their are a few RNS's giving the shareholder the impression we are closer then we are to any completion of any project.
Reading everything below for the first time I would invest...This company is really going somewhere!!!!!
What is this BOD actually doing or what have they actually achieved over the last five years?
May 2019 Quadrise is pleased to announce that the Company has entered into a Services Agreement ("SA") with Aleph Commodities Ltd ("Aleph") to provide services to the Company for the use of MSAR® in the Kingdom of Saudi Arabia ("KSA")
May 2019 Agency Agreement with Hawazin Regional Trading Company and
Memorandum of Understanding with Hawazin and Aleph Commodities Limited for Kuwait
June 2019 Quadrise is pleased to announce that the Company has entered into an agency agreement (the "Agreement") with Laqua S.A. de C.V. operating under the Redliner name in Mexico
August 2019 Quadrise is pleased to announce it has signed a Memorandum of Agreement ("MOA") with a European oil refiner that is part of an international integrated oil and gas company.
March 2020 Quadrise is pleased to announce that significant progress has been made in preparation for the MSAR® pilot trial at one of the industrial client's sites in Morocco.
December 2020 Update re Greenfield MSAR® Commercial Trial Agreement
January 2021 JOINT DEVELOPMENT AGREEMENT WITH MSC SHIPMANAGEMENT LIMITED
August 2021 Greenfield Commercial Trial Agreement Extension
Discussions are underway with several candidate sites in Panama and Honduras for MSAR® and bioMSAR™ power plant trials later in 2022.
May 2023 Morocco he parties will enter discussions for potential commercial supply, with a view to signing a fuel supply agreement in Q3 2023.
May 2023 MSC The vessel is currently in dry dock being prepared for testing, which is now expected to commence in Q4 2023.
May 2023 UTAH Following the award of drilling permits to Valkor covering their Asphalt Ridge site in early May 2023, the supply of the licence and manufacturing unit will allow low sulphur heavy oil with a lower carbon intensity to be blended to MSAR® and bioMSAR™ for trials during H2 2023, ahead of commercial supply in Q1 2024.
Valkor is continuing to work with Heavy Sweet Oil LLC and AC Oil LLC to secure the required project financing to establish the Asphalt Ridge Enhanced Recovery Unit for the in-situ production of heavy oil, and to licence Quadrise's technology for the agreed sum of US$1.5m (comprising US$1m upon satisfaction of the financing condition and US$0.5m on the date on which a Quadrise MSAR® Manufacturing Unit and associated equipment are delivered to the Primary Production Site).
A further update will be provided upon conclusion of Valkor's project financing and subsequent award by Quadrise of the conditional site license to Valkor.
Steven Byle, CEO of Valkor commented:
"Whilst the unitisation decision by the Board on 23 August 2023 was disappointing, it was understandable, and we had scheduled the hearing well ahead of our project requirement for down-spaced pilot wells to be drilled. Our pilot development project is unaffected, and our plan is to proceed with the drilling programme under the current Board approvals. The wells will evidence the substantial heavy oil deposits surveyed in the area and support our further unitisation application early next year. We look forward to securing funding with our project partners during the coming weeks and to working with Quadrise to implement its unique technology in Utah to produce lower carbon fuels in the near future."
Jason Miles, CEO of Quadrise added:
"We are delighted that Valkor and their partners are commencing heavy oil drilling activities in Q4 2023 and working towards the conclusion of project financing arrangements. The Quadrise team are looking forward to working with Valkor in Utah to support the project and to deliver sales of MSAR® and bioMSAR™ fuels produced from lower carbon heavy sweet oil."
Further to the announcement on 24 August 2023, Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, provides an update on its project with Valkor Technologies LLC ("Valkor") in Utah, USA.
As announced on 12 June 2023, Quadrise and Valkor signed a Site Licence Agreement ("SLA"), conditional on receipt by Valkor of drilling and underground injection permits for the Primary Project Site ("PPS") from the Utah Board of Oil, Gas and Mining (the "Board") and upon the receipt by Valkor of project financing in an amount of at least US$15 million.
Valkor's pilot development programme was approved by the Board in December 2022 on standard 40 acre spacing, and Valkor has been conducting field surveys and other tasks required for the completion of permit applications. The drilling permit is expected by Valkor to be issued by Utah's Department of Oil, Gas & Mining ("DOGM") in early September 2023, with drilling scheduled by Valkor in October 2023. Upon issue of the drilling permit, Valkor can file Underground Injection Control ("UIC") permit applications for the injection of steam to stimulate the drilled wells. DOGM has estimated UIC approvals will take approximately 8 weeks in accordance with the schedule for Valkor's planned October drilling. Under the current Board approvals and following the issue of the drilling permit, Valkor is able to drill up to 12 wells under the pilot development plan.
Separately, Valkor is seeking 2.5 acre down-spacing of the wells (compared with the standard of 40 acres) to allow drilling of 111 wells within the same area. Based upon advice received, Valkor sought a hearing for a unitisation plan, treating the pilot area as a single unit with revised spacing as desired by Valkor ("Unitisation"). At the recent hearing on 23 August 2023, the Board did not grant the Unitisation but instead requested that Valkor drill at least one pilot well and update the plan using the data from that well before seeking approval again. Unitisation by Q1 2024 will be targeted, to stay on schedule for the full development plan of 111 wells.
Valkor has advised Quadrise that the Board ruling of 23 August 2023 does not impact the PPS development plan and has confirmed that Valkor's financing is not dependent upon UIC or Unitisation approvals. With the drilling permit condition now in hand, Valkor and Quadrise have agreed under an addendum dated 25 August 2023, that the SLA is now only conditional upon the receipt by Valkor of project financing in an amount of at least US$15 million.
Valkor is continuing to work with Heavy Sweet Oil LLC and AC Oil LLC to secure the required project financing to establish the Asphalt Ridge Enhanced Recovery Unit for the in-situ production of heavy oil, and to licence Quadrise's technology for the agreed sum of US$1.5m (comprising US$1m upon satisfaction of the financing condition and US$0.5m on the date on which a Quadrise MSAR® Manufacturing Unit and associated equipm
What a month
Morocco then Valkor
Finally share Price below 1p
My Hope is fading fast
Pally 100% agree with your note also.
Such a great product with no take up ...We must ask why?
Morning Jason and Andy
You really could not make this up. We have all been waiting for some good news and shortly before the market closes an RNS informing us of yet another issue with equipment.
Years of hope very little to show, year after years talking about the three / four projects. Time is running out note your Poor support for the funding recently.
You really need to urgently get these projects moving forward and update the market on some good news.
Following on from your very generous option grants (in hindsight not great timing) and additional dilution from the recent funding required because you as a team have not managed the current project to commercialisation on the original timings. We must ask what is going on?
Over the years you have had institution Investor in and out of the company and currently no large support is evident. Private Investors have been very supportive but how long can our patience last. Please do everything in your power to deliver these projects within your current funding and with haste. Please just good news moving forward
Keeping everything crossed that’s your team has the skill and knowledge to get these project over the line.
Regards
PS don’t forget for the last few years I’ve suggested you should consider seeking a strategic Investor/partner. This would be my personal route forward a company with deep pocket and clout in the market