- Quadrise Fuels shares have fallen 33.5% since April despite positive updates.
- The company’s projects are progressing well, making its shares attractive.
- Should you buy QFI shares, and what can you expect from the firm?
- Read on to find out.
The Quadrise Fuels International Plc (LON: QFI) share price has fallen 33.5% from its April highs despite multiple milestone achievements, including today’s signing of a material transfer and cooperation agreement with its Moroccan client.
QFI shares barely moved on today’s announcement, which will see the company manufacture trial quantities of MSAR® and bioMSAR™ for an industrial demonstration test at the client’s site. Once the test is completed, Quadrise Fuels will provide the client with a written report on the efficiency of using the two fuels.
If the data generated meets the client’s expectations, the two companies will start negotiation on the potential commercial supply of MSAR® and/or bioMSAR™. Investors barely reacted to the positive developments. Furthermore, Quadrise will conduct a technical and economic feasibility study for a prospective demonstration at the client’s second site.
The two programs will take place concurrently, with the expected completion in Q3 2022.
Jason Miles, Quadrise Fuels’ CEO, commented: “We are advancing all of our projects to progress them towards commerciality. We are pleased that we have renewed our agreement with this key Client in Morocco. We are confident that we will be able to demonstrate the economic and environmental benefits of using MSAR® and bioMSAR™ at the client’s industrial site and look forward to expediting the project.”
Quadrise has accomplished other milestones, such as entering into a commercial development agreement (CDA) with Valkor Technologies LLC (“Valkor”) to implement Quadrise’s MSAR® and bioMSAR™ technologies at the company’s Utah projects on a commercial scale.
The company also has projects in three Latin American countries, Mexico, Honduras and Panama. The projects in these countries are in their early stages but are progressing well. In addition, Quadrise’s partnership with MSC is also advancing after the company recently met with MSC’s management team in Cyprus.
The company expects to start supplying bioMSAR™ to MSC in Q4 2023 after completing the 4,000-hour LONO trial and receiving a LONO from Wärtsilä. Overall, Quadrise Fuesls’ projects are advancing towards commercialisation.
QFI shares are trading near their all-time lows, making them attractive to investors.
*This is not investment advice. Always do your due diligence before making investment decisions.
Quadrise Fuels share price.
The Quadrise Fuels share price has fallen 33.46% from its April high of 2.705p to its current price of 1.800p.