Quadrise Fuels International

Emulsion fuel technology concern Quadrise Fuels International (QFI) claims momentum for commercial operations next year, after losses increased 70% to £6.6m.

The AIM-quoted company, which argues its MSAR technology emulsifies bitumen and heavy oil into cheaper, lighter fuel emitting less carbon and cutting costs for shippers and refiners alike, ended the year to June with no debt, £4 million cash after a £3m March placing at 3.5p and several potentially exciting deals in the offing.

In the last financial year, London-based Quadrise, where Swiss-based speciality chemicals group International Energy has a key holding, signed a royalty agreement with diversified international shipping giant Maersk and undertook a land-based trial programme with Maersk and chemical group Akzo Nobel. The company, chaired by Ian Williams, anticipates agreeing a refinery project with Mexico's PEMEX corporation and says reviews by client specialists in Saudi Arabia confirmed the 'techno-economic feasibility' of using MSAR in existing refineries and new refinery projects.

Since June, Quadrise has closed contracts for sea trials with Maersk before the end of the year, extended a memorandum of understanding with PowerSeraya of Singapore and advanced the Saudi Arabian proposals for approval later this year. Williams declares the company 'has the momentum now to secure sales and revenue during calendar 2012,' and alludes to accumulated tax losses of £29.6m for when it finally moves into profit.

Highlighted by Growth Company Investor at 4p in January, Quadrise shares now trade at 5.63p. Hold on for now.