Shares of Quadrise Fuels International Plc (LON: QFI) fell 16.8% despite the company’s CEO issuing a positive statement on the company’s operations.
The company said that it expects full results on a test of its low carbon alternative to heavy fuels in Finland.
Quadrise noted that it had gotten a positive response from prospective clients for its bioMSAR synthetic fuel as many businesses look for zero-carbon energy sources.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The company is set to benefit from the trend towards greener fuel sources for industries that use heavy oils, such as the shipping industry, which are a significant source of pollution globally.
The shipping industry is a particular target, given the massive amounts of heavy fuels used in the industry.
Quadrise is currently running a commercial-scale test in Morrocco set to be completed in H2 2021. The company could sign a supply agreement with the client once the trial is completed.
Mike Kirk, Quadrise Fules’ CEO, said: “The positive initial feedback from testing of bioMSAR on a Wärtsilä 4-stroke engine in Finland is very encouraging, and we look forward to receiving the full report in the coming weeks.”
Adding:
“This a key milestone towards being able to undertake larger commercial-scale testing during the next twelve months with MSC, where we remain on track to complete the 4,000-hour LONO trials by mid-2022.”
From a technical perspective, Quadrise Fuels shares are trading below a crucial resistance level and could be headed much lower towards the next support level despite today’s update.
However, the company’s fundamentals are pretty promising, making it an attractive target for long-term investors.
Quadrise Fuels share price.
Quadrise Fuels shares fell 16.84% to trade at 3.295p, falling from Friday’s closing price of 3.850p.
