Member Info for Willswag

If as HF speculates only 50% are taken up. Then there will be 50% left for us that want to take extra. I might yet go for double my allocation and in HF’s scenario I might get them all. In which case I have his and a few others allocations that did not want to support the company at this point in their development. 😊

It’s a lot of cash though to free up so grateful that we have the two weeks or so. One of my transfers is quoting 10 days. . . ,

Someone has suggested buying these to fund the company and selling immediately they recover into the market. That’s a great idea if you don’t want more but do want to support the firm as it closes on commerciality 👍

If you own QED in a nominee account via your bank or share dealing site. Then there will be a corporate action notification on that site and you need to respond (if you want them) to either take your allocation, 1for every 8 that you own. Or take extra and specify how many. The bank will ask you to have the cleared funds for the confirmed quantity (you might only get a scaled-back percentage of the extra you asked for) by the 26th. If you don’t want them you can do nothing, default.

Vince

Glad that you’re going to commit to support 😊

Also glad that you’re going to let them know on Wednesday 💪🏼

I reckon the fuel supplier won’t commit to a three-way deal until we are properly funded. Just my perception here but I wouldn’t get into a big deal with a start-up that through due diligence was shown to be financially unsustainable!

🤞👍

So open offer 1 for 8 held after placing £1.1m

What do we think?

I’m going to take it up I can’t have the dilution and we don’t get a long enough runway without it

It was coming let’s get it done!

London South East

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Placing Results, Open Offer & Posting of Circular

Today 10:38

RNS Number : 3588F

Quadrise PLC

07 July 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

7 July 2023

Quadrise plc

(the "Company" and together with its subsidiaries the "Group" or "Quadrise",)

Results of Placing, Open Offer Launch and Posting of Circular

Quadrise Plc (AIM:QED), the supplier of innovative energy solutions for a cleaner planet, is pleased to announce the successful results of the Placing announced on 7 July 2023 and to confirm the launch of the Open Offer to Qualifying Shareholders.

The Company has conditionally raised total gross proceeds of £1.1 million pursuant to the Placing of 88,000,000 Placing Shares at the Placing Price of 1.25 pence per New Ordinary Share. The gross proceeds of the Placing are expected to be supplemented by additional gross proceeds of up to £2.2 million to be raised pursuant to the Open Offer.

A circular containing detailed information about the Open Offer, including the terms and conditions and details on how to accept the Open Offer (the "Circular") and an accompanying Application Form (for Qualifying Non-CREST Shareholders) will shortly be posted to Shareholders.

A copy of the Circular will shortly be available from the Company's website at www.quadrise.com.

Capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the Circular.

Open Offer

Pursuant to the Open Offer, Qualifying Shareholders will have an opportunity to subscribe for an aggregate of 175,863,121 new Ordinary Shares (the "Open Offer Shares") at 1.25 pence per Open Offer Share on the basis of:

1 Open Offer Share for every 8 Existing Ordinary Shares held on the Record Date

There is more of an acceptance that there is a market for these types of fuel now. That helps.

MSC help marketing is also helpful,

But the two-test regime is still everything to our success.

The Proof of Concept test as well as the Letter of No Objection test (from Wartsila) are crucial steps to proving that there is no evidence of wear amongst other things, to the engine manufacturer.

Once the in-use effectiveness and compliance is proven. Only then will our fuel and its viability for use in the market be validated.

Really important steps in our evolution coming up.

Along with supply of c 26,000 tonnes of lovely fuel 😊

Great article

That should get the RSI in the mood again! 😉

Jackg123

That’s even more interesting!

Swan service eh?

I’ll give it a look

Thanks

Jackg123

Sustainability report quoted ‘vessels’

The LinkedIn noted vessel in the singular

Putting us off the scent?

Anyhow Bremerhaven will always be between Gothenburg and Felixstowe en-route to US eh?!

Good luck everyone here, closer than ever before, not long now . . .

Jackg123

But this is a trial of BioMSAR blend that is set.

It’s Glycerin and that’s it?!

BTG BioLiquids come into play much later on after blending and trialling those blends in a static engine which is still some way off.

What you’re suggesting might be a reason for a longer time getting a fuel agreement but I don’t think it’s a stopper. I do think it’s leaning towards a Dutch or Belgian fuel supplier now that the new route avoids Algeciras bay.

So, using the information in the posted link it’s 29 days from Klaipeda to Jacksonville including all the scheduled stops.

Approximately 17 days direct Jacksonville back to Klaipeda.

Using ports.com for sea distances travelled between ports and using the MSC NW Europe to US route schedule.

It’s 6505 nm inc stops out from Klaipeda to Jacksonville @ 0.05 t/nm = 326 t

That’s about 224 nm / day on way out.

It’s 5267 nm direct back to Klaipeda = 264 t fuel used.

That’s about 310nm per day sailed on way back.

So our ship will use Approx 590 t of fuel per cycle.

Google Panamax container ship fuel use per day and we get approx 360 miles per day consuming 18-20 tonnes of fuel. So google says 828 t per trip but this is heavily dependant on steaming speed.

Truth probably lies somewhere between 590 and 828 tonnes used per trip.

Hours steaming is 46 x 24 = 1104 per cycle

This is the MSC new EU to USA route announced in March this year:

https://www.porttechnology.org/news/msc-updates-northwest-europe-us-connection/

Klaipeda at one end and a few US Eastern seaboard ports at the other. Antwerp is included!

Good luck everyone here!

There are also two newer products that could be tested on these vessels also of course.

By the time the first one of the LONO trials is completed on MSAR or BioMSAR we could see a CSO blend ready for vessel testing.

Similarly, by the time the second of those initial tests is completed so a blend from the BioLiquids wood chip oil may be ready for vessel testing.

It’s in MSC’s interests to prove up these game-changing fuels and we are extremely well placed now to help to deliver.

As Dustofnations says, we just need the fuel agreement and get one of these trials going first!

Or potentially we could get MSAR trial on one and BioMSAR on the other of Leandra / Bremerhaven concurrently. Then one of them doing the bob trial whilst the other returns to service bunkered by the preferred/either fuel. 🤞

Might that be the 6-8 July Conference that JM might now be too busy to attend?

Maybe he will be in Klaipeda on our ship with MSC and a fuel supplier?

Just idle speculation whilst we wait . . . .

It would still be nice if the big fuel supplier agreements was announced whilst the ship was in Klaipeda though

. . .where it all began all those years ago 😉

Phlandamobalpus

This proactive interview

https://www.youtube.com/watch?v=AV2O4cdl5Zg

25 bagger got me thinking about our chart and timeline too.

A Chartist stated earlier that it took (to 25 bag previously in 2013/14) 5 years

It did just about

But back then Maersk (or the promise of) was just about the only show in town

So we had POC and then lONO which created that rise.

Now we have at least two other projects that are close to being commercial!

I think if MSC get a riddle on this will blow away 45p before the LONO is done on a successful midway update! That’s half way through next year give or take!

Hold on tight folks it’s going to be a ride!

Thanks StockCheque

I’m glad we got that sorted out?!

Cheers

First image thanks to Angelo Vlasssenrood

https://www.marinetraffic.com/en/photos/of/ships/shipid:156168/shipname:MSC%20LEANDRA%20V