EMEA News
Quadrise Upbeat on Firm's Propects
Emulsion marine fuel company Quadrise reported an annual loss in its interim results but remained steadfastly optimistic on the commercial road ahead.
The company posted a post-tax loss of £1.5 million ($2m) in 2021. In 2020, the negative result came in at £2.3 million.
Cash reserves held by the company increased over the period from £1.1 million to £5.6 million.
Commenting on the results, CEO Jason Miles said that his firm's products had a key role to play in the transition to a net zero future:
"The focus on large scale and immediate net-zero carbon solutions to climate change often underplays the valuable and critical role that must be played by transitional technologies such as Quadrise's.
"Our proven MSAR® and low carbon bioMSAR™ technologies are available immediately and can generate both cost and emissions savings for adopters without the need for large scale capital investment."
Looking ahead, Miles added that Quadrise's emulsion technology platform can "deliver tangible benefits, especially on larger diesel engines used in the power and marine sectors".
