Member Info for 46Gillingham

Stockcheque

Let's not forget the MSC trial was initially happening in 2021, then 2022, then 2023 and the 2024 and of course in 2025... i guess it's now going to be 2026. If any shareholder wants to moan please do you have good reason to.

Personally I think QED rise should team up with an additional shipper and get a trial moving forward

Chairman Andy Morrison, incoming CEO Peter Borup, CTO Jason Miles and CFO David Scott will provide a live presentation relating to the final results via the Investor Meet Company platform on 2 October 2025 at 12:00 noon GMT . The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 2 October 2025 at 09:00 GMT, or at any time during the live presentation.

Financial Summary:

· Loss after tax of £3.1m (2024: £2.9m), of which of £1.6m (2024: £1.5m) is attributable to production and development costs and £1.6m (2024: £1.3m) relates to administrative and corporate expenses.

· Loss per share for the year of 0.17p (2024: 0.18p).

· Total assets of £10.4m as at 30 June 2025 (2024: £6.7m).

· Cash balances as at 30 June 2025 of £5.9m (2024: £3.0m).

· Cumulative tax losses of £68.0m (2024: £64.7m) potentially available for set-off against future profits.

Operational Update:

· Marine - Following the signature of the binding trial agreement between Quadrise, MSC Shipmanagement Ltd ("MSC") and Cargill NV ("Cargill") in November 2024, further progress has been made, including execution of the MAC² services agreement in April 2025, the securing of operating permits and a dedicated bunker barge, and inspection of the MSC Leandra in collaboration with Auramarine. Site groundworks have been completed at MAC² and the trial equipment has been procured and assembled, ready for shipment to Antwerp.

While agreements between MSC, Cargill, and Quadrise have taken longer than expected to finalise, discussions are progressing and remain constructive. Upon signature, installation and commissioning of the Company's trial equipment at the MAC² terminal will take place ahead of fuel production and the Proof-of-Concept tests. The bioMSAR™ LONO trial is planned to complete 6-8 months after the 2-month long Proof-of-Concept tests of MSAR® and bioMSAR™. During the LONO trial the parties intend to conclude a Commercial Supply Agreement and secure bioMSAR™ bunker supply operations to the marine sector by Cargill from MAC2 facilities in Antwerp and Bruges on a permanent basis in anticipation of a successful trial conclusion.

· Americas - In December 2024, Quadrise signed a Material Transfer and Trial Agreement with Sparkle Power S.A. for proof-of-concept and emissions testing of MSAR® and bioMSAR™ at its 50MW El Giral power plant in Panama. The trials successfully concluded in July 2025 and involved on-site fuel production using a 5-tonne-per-hour MMU with combustion of MSAR® and bioMSAR™ over a 24 hour period to generate power for the national grid. These trials validated the commercial viability of MSAR® and bioMSAR™ and marked their first successful use on Everllence medium-speed 4-stroke engines, significantly expanding the market potential of our fuels. Following this milestone, Quadrise and Sparkle are now progressing fuel permitting and confirming commercial supply arrangements for Panama.

· Morocco - Following the signature of a Commercial Framework Agreement with OCP in May 2024, preparations were made for a 30-day commercial trial at their Jorf Lasfar site. OCP has since relocated the trial to a newer production line and kiln. The transferred trial requires final OEM approval before proceeding. Quadrise and OCP are now working to obtain this OEM approval, and the trial is expected to commence once received, with the trial equipment already on-site.

· Utah - In January 2025, Quadrise and Valkor signed an addendum to their 2023 Site License and Supply Agreement, outlining a series of payments totalling $1.5 million for licensing and equipment, alongside quarterly support fees. Slower-than-expected production growth at Valkor's Utah operations has delayed site development and marketing efforts, resulting in a delay to the initial $350,000 tran

Hotfinance Great summary

$2.1m over the next couple years.....I assume the royalties have not changed?

Seems like a sensible solution for both parties

Pursuant to the Addendum, the payment of US$1.0 million due to the Company under the SLS Agreement (as amended) has been re-phased over the period to 30 June 2026, with the deliveries of Multifuel Manufacturing Units ("MMUs") and associated payments to the Company amended to match updated expectations of oil production ramp-up at the Valkor project site.

On 14 January 2025, an addendum to the SLS Agreement was executed by the Parties under which Valkor agreed to pay Quadrise an aggregate of US$1.5 million in exchange for the provision by Quadrise of an MSAR license and the delivery of a smaller Multifuel Manufacturing Unit ("MMU") in 2025 prior to the delivery of a full size MMU thereafter.

Due to slower than expected ramp-up in oil production and resulting financial constraints during the period, Quadrise and Valkor have now agreed a further addendum to the SLS Agreement as follows:

· A re-phased payment of the initial US$1.0m license fee, with a non-refundable amount of US$50k payable immediately, US$0.3 million payable by Valkor on or before 31 March 2026 and the remaining US$0.65 million due on 30 June 2026.

· The supply by Quadrise of a smaller Multifuel Manufacturing Unit ("MMU") of 600 bpd capacity on an interim basis by 30 June 2026, for which Valkor will pay US$0.2 million by 30 September 2026. A further US$0.3 million will be due to Quadrise upon supply of a full size 6,000 bpd MMU to Valkor, in exchange for the 600 bpd MMU.

· A project development and support services fee of US$75,000 payable quarterly by Valkor from 1 July 2026 for a minimum period of two years, in respect of Quadrise engineering and process design and commissioning services, site operations and compliance support.

Commenting on the update, Jason Miles, Chief Technology Officer of Quadrise, said:

"We are pleased to have signed this addendum with Valkor, which reflects their continued commitment to deploying Quadrise technology in Utah as a route to market for their heavy sweet oil, whilst also re-organising licence and MMU delivery payments to be received by the Company."

"When combined, our respective technologies will provide very attractive low sulphur fuels and biofuels with compelling economics and environmental credentials."

Steven Byle, Chief Executive Officer of Valkor, added:

"While progress during 2025 has been slower than anticipated, we remain committed to our partnership with Quadrise and to deployment of their technology in Utah.

The recent approvals and financing secured for our first mined oil sands marked a significant milestone and we are now focused on increasing oil production and enhancing product quality.

Quadrise technology remains a key part of our strategy to unlock higher value markets for our heavy sweet oils and we look forward to working closely with the team to bring these solutions to market."

Part 2 ..hope this helps Hotfinance

Despite delays in other trials such as MSC and Valkor, this successful step in Panama helps rebalance the company’s development pipeline and has already had a positive effect on its share price, which has bounced back to its highest level in three months.

Key Highlights from the Sparkle Power Trial and FY Results:

• 24-hour engine test confirmed emission reductions: 32% NOx (MSAR), 25% NOx (bioMSAR), 20% PM.

• Panama plant running at 70% capacity could consume ~100ktpa of MSAR.

• Positive share price movement following the trial success.

• £7.1 million cash on hand as of February 2025.

• FY24 loss reduced to £2.86 million, compared to £3.1 million the year prior.

• Additional opportunities identified across Central America and the Caribbean.

In Summary

The successful Panama trial is more than a technical validation for Quadrise – it is a strategic gateway into a region with underappreciated commercial potential. With tangible emissions benefits, proven engine compatibility, and a market hungry for sustainable solutions, Quadrise is well placed to capitalise on this momentum. As VSA Capital reiterates its Buy recommendation, investors will be watching closely as the company moves towards its first commercial supply agreements in Central America.

Quadrise Plc (LON:QED) has taken a major step forward in its commercial journey following the successful completion of its first fuel trials in Central America. The company, known for its proprietary emulsion fuel technologies, MSAR® and bioMSAR™, has announced the results of its landmark trial with Panamanian power producer Sparkle Power SA.

The trial involved running the Everllence 4-stroke diesel engines at Sparkle’s 50MW heavy fuel oil (HFO) plant using fuels manufactured by a Quadrise MMU (multifuel manufacturing unit) installed on-site. Over a 24-hour period, MSAR and bioMSAR demonstrated not only effective performance but also environmental benefits, with notable reductions in harmful emissions compared to traditional HFO.

As research analyst Oliver O’Donnell, CFA at VSA Capital writes, “The trials confirmed improved energy efficiency and reduced emissions of nitrogen oxides (NOx), 25% with bioMSAR and 32% with MSAR, and particulate matter (PM) compared with heavy fuel oil (20% reduction with both fuels). Maximum engine load achieved was 74% using the standard fuel injection system designed for fuel oil, which was in line with expectations.”

These results position Quadrise at the forefront of sustainable fuel innovation in a region still heavily reliant on oil for electricity generation. Panama, in particular, presents a compelling opportunity. Though hydroelectric power accounts for more than 60% of electricity generation, fluctuations of up to 30 percentage points year-to-year due to rainfall variability mean backup oil-fired power remains critical.

Quadrise and Sparkle Power are now planning the next stage – commercial fuel supply and permitting agreements. With several other heavy fuel oil plants in Panama and nearby countries like Nicaragua and Honduras still dependent on bunker and diesel fuels, the potential for wider regional expansion is evident. Quadrise’s technology could help power producers in these markets transition to lower-emission alternatives without major engine retrofits.

In addition to the power sector, Panama’s shipping industry offers another attractive market. As a major bunkering hub, with over 10,000 vessels passing through the Panama Canal each year, the demand for cleaner marine fuels is growing, particularly as new regulations and carbon pricing measures are rolled out.

The Sparkle trial also offers broader strategic value. As noted in the report, “Our research has indicated a number of other operations using MAN engines meaning that the Sparkle trial results should be valuable qualification for other customers in the region.” This includes both power plants and marine operators, giving Quadrise an edge in future negotiations.

You might also enjoy reading Quadrise and Alder Energy sign JDA to develop low-carbon marine fuels

Despite delays in other trials such as MSC and Valkor, this successful step in Panama helps rebalance the company’s development pipeline and ha

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Hotfinance.....Thought I would re-read last years Final Results comments on the RNS....All was looking so good a year ago...Whats gone wrong?

Marine

Upon signature, installation and commissioning of the Company's trial equipment at the MAC² terminal is planned in Q4 2024, ahead of fuel production and the Proof-of-Concept tests commencing in early Q1 2025.

Utah

Valkor will pay Quadrise US$1.0 million under the terms of the Site License and Supply Agreement. A further US$0.5 million is then due from Valkor upon delivery of an MSAR® Manufacturing Unit to the project site in Utah.

Morocco

Following the successful industrial demonstration test at an OCP SA ("OCP") industrial site in Morocco, a Commercial Framework Agreement was signed with OCP in May 2024. Preparations for a 30-day commercial trial at OCP's Jorf Lasfar site are now underway and in parallel Quadrise has opened discussions with candidate suppliers for long-term commercial MSAR® supply with a view to signing term supply agreements following successful trial completion.

Jasons Comments

The pending agreement with MSC and Cargill will formally kick off activities at the MAC² terminal during Q4 2024, to prepare for fuel supply to the MSC vessel trial from Q1 2025 onward followed by commercial supply upon success. Our team is also preparing to complete the OCP commercial trial in Morocco in early Q4 and has commenced discussions with candidate suppliers for long-term commercial MSAR® supply upon success. Heavy sweet oil from the Valkor projects in Utah has commenced production, with the State of Utah approving Valkor's plans for future drilling. Conclusion of the MSAR® site license and planned equipment delivery to Valkor in Utah is therefore expected, pending successful resolution of eagerly awaited project financing by Valkor.

So the board have appointed both a new CFO and COO in the last 18 months. What they really need is someone in the team that can close some of the proposals that have been hanging around for 5 years plus. We must question if these proposals which we have been told in the pass are in the $100m + range are credible

No I would guess it's burning approx £300,000 per month th from October with Peter onboard

Gr1bbler....Yes I have 3 orders in the market from this morning all quick large volumes, however Barclays are telling me they have bought 900,000 so far but cant get the balance fulfilled currently ive not seen a contract note yet they have just told me this verbally. End of play I will have a clearer picture

14% gain is a good start...Barclays dealers system is down so the trades I placed first thing still have not been placed!!

Plus all the wise investors whom have held their shares over many months or years...Hopefully now we will see them climb a little

Jose Castillo, General Manager of Sparkle, commented:

"We are delighted to have completed the Everllence engine test of MSAR® and bioMSAR™ at our power plant. The Quadrise test has confirmed the fuels are viable replacements for heavy fuel oil at our facility.

Sparkle Power is committed to becoming more fuel efficient and conserving the environment by reducing emissions in accordance with the government's policies for environmental conservation in Panama. The test has confirmed that MSAR® and bioMSAR™ fuels can achieve the necessary criteria for commercial implementation in the country."

Let's hope both Jason and Linda can get something signed at the conference

Dandanman...I dont care. If peter is what we need to move the project forward happy days