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Quadrise Fuels International
(LSE:QED)
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Rating:46Neutral
Price Target:
1.00 p
▼(-0.50% Downside)
Action:Reiterated
Date:07/09/26
The score is held down primarily by weak financial performance (negligible revenue, persistent losses, and ongoing cash burn despite low leverage) and bearish technicals (price well below major moving averages with negative momentum). The earnings call adds some support due to tangible near-term commercialization milestones and runway visibility, but meaningful execution, partner-dependency, and cash-burn risks still dominate. Valuation provides limited help because the negative P/E reflects continuing losses and no dividend yield is available.
Positive Factors
Balance Sheet Strength
Very low reported leverage and a material increase in equity/assets versus 2024 provide structural financial flexibility. This reduces default risk and gives management runway to complete pilot projects and trials without immediate debt pressure, supporting longer-term commercialization options.
Negative Factors
Weak Cash Generation
Persistent operating cash outflows and worsening free cash flow create a structural reliance on external funding. That constrains the company’s ability to scale pilots, absorb trial delays, or fund certification efforts without dilution or conditional financing, limiting long-term independent growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low reported leverage and a material increase in equity/assets versus 2024 provide structural financial flexibility. This reduces default risk and gives management runway to complete pilot projects and trials without immediate debt pressure, supporting longer-term commercialization options.
Read all positive factors
Quadrise Fuels International (QED) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£21.02M
Dividend YieldN/A
Average Volume (3M)2.46M
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees10
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,166,519,500
10 Day Avg. Volume2,552,554
30 Day Avg. Volume2,457,841
Financial Highlights & Ratios
PEG Ratio4.62
Price to Book (P/B)8.53
Price to Sales (P/S)1929.92
P/FCF Ratio-24.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Quadrise Fuels International Business Overview & Revenue Model
Company Description
Quadrise Plc, an enterprise based in London, United Kingdom, and its associated companies, focus on the creation, promotion, and sale of distinctive emulsion-based fuels. These specialized fuels are primarily applied within the UK across diverse a...
How the Company Makes Money
Quadrise’s business model is centred on commercialising its proprietary fuel formulation and production know-how for MSAR-type fuels. In practice, the company aims to generate revenues primarily through (i) licensing its technology and intellectua...
Quadrise Fuels International Earnings Call Summary
Earnings Call Date:Mar 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 26, 2026
Earnings Call Sentiment Positive
The call conveys cautious optimism: multiple near-term operational positives (MSC/Cargill trial close, OCP traction, Valkor payments and pilot plan, USD 4.0M cash + expected receipts, strengthened team and R&D collaborations) signal momentum toward commercialization. However, material execution risks remain—legal/commercial finalization for the MSC trilateral agreement, Valkor pilot/sample delays, feedstock scaling complexity, regulatory/IMO timing uncertainty, and increased cash burn. Management presents these as manageable pragmatic issues rather than fundamental technology failures, resulting in a constructive but cautious outlook.Positive Updates
Near-Term Progress on MSC / Cargill Trial
Management reports the MSC–Cargill–Quadrise trilateral trial agreement is close to signature; VAT concern for Antwerp resolved and a Belgian branch filed to avoid delays. Team describes remaining issues as pragmatic/legal rather than principal, and expects a single signing for the related agreements.
Negative Updates
Delays & Legal/Commercial Friction on MSC Signing
Agreement signature has been delayed by detailed commercial/legal negotiations (including tripartite wording and standard buyer terms). Management declined to give a hard timetable and notes large buyers’ internal priorities (e.g., fuel availability, geopolitical events) can slow decisions.
Read all updates
Q2-2026 Updates
Positive
Negative
Near-Term Progress on MSC / Cargill Trial
Management reports the MSC–Cargill–Quadrise trilateral trial agreement is close to signature; VAT concern for Antwerp resolved and a Belgian branch filed to avoid delays. Team describes remaining issues as pragmatic/legal rather than principal, and expects a single signing for the related agreements.
Read all positive updates
Company Guidance
The call set out clear near‑term milestones and cash guidance: cash at 31 Dec was $4.0m, historical cash burn ~$3.0m/yr (recently +10–15% → ~ $3.3–3.45m/yr), and management expects ~USD 950k–1.0m from Valkor (a $300k installment due end of month and ~$650k due end of year), plus small grant receipts (c.$12k recognized in the period; ~ $50k total grant cash); tax losses stand at ~£68m. Operational metrics and timing include two MSC/Cargill trials (MSAR and bioMSAR) now close to signature, an OCP trial of ~15–30 days depending on kiln size, Valkor pilot runs producing samples with pilot plant installation targeted in Q3 and full plant operational in Q4 and Quadrise’s unit shipping in Q2. Scale‑up planning covers a gross shortlist of ~25 refineries, an Antwerp branch filed, priority bunkering hubs (Singapore, N. Europe, Med, Americas), ISCC audit post‑commissioning, and technology constraints (MSAR ~30% water vs bioMSAR ~10% water); the company is also in an EU digital‑twin project with ~18 partners (modelling 4 existing + 4 new‑build vessel types) and has added hires (Matthew Hyde, 30+ years; Michael Covington), with 45 investor questions logged.Quadrise Fuels International Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
63
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 87.00K | 42.00K | 0.00 | 0.00 | 75.00K | 17.00K |
| Gross Profit | -1.80M | -1.58M | -1.46M | -1.74M | -1.37M | -1.36M |
| EBITDA | -3.35M | -3.01M | -2.85M | -3.13M | -2.64M | -4.27M |
| Net Income | -3.36M | -3.10M | -2.86M | -3.09M | -2.60M | -4.26M |
Balance Sheet | ||||||
| Total Assets | 8.29M | 10.38M | 6.73M | 5.02M | 8.03M | 10.66M |
| Cash, Cash Equivalents and Short-Term Investments | 3.98M | 5.89M | 3.05M | 1.34M | 4.42M | 7.01M |
| Total Debt | 126.00K | 181.00K | 145.00K | 253.00K | 71.00K | 0.00 |
| Total Liabilities | 478.00K | 886.00K | 440.00K | 175.00K | 262.00K | 276.00K |
| Stockholders Equity | 7.82M | 9.50M | 6.29M | 4.85M | 7.76M | 10.39M |
Cash Flow | ||||||
| Free Cash Flow | -3.66M | -3.25M | -2.25M | -3.08M | -2.58M | -2.39M |
| Operating Cash Flow | -3.14M | -2.81M | -2.16M | -2.99M | -2.52M | -2.36M |
| Investing Cash Flow | -520.00K | -442.00K | -66.00K | -95.00K | -58.00K | -29.00K |
| Financing Cash Flow | 6.25M | 6.09M | 3.93M | -66.00K | 0.00 | 7.01M |
Quadrise Fuels International Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £75.88M | 8.31 | 10.04% | 5.45% | 1.90% | 48.28% | |
74 Outperform | £44.77M | 3.47 | 22.39% | 2.11% | ― | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | £206.34M | -1,287.40 | -0.15% | ― | -38.66% | -105.50% | |
50 Neutral | £68.65M | -14.74 | -46.66% | ― | ― | 76.87% | |
49 Neutral | £315.12M | 70.28 | -2.23% | 2.73% | -47.84% | -277.39% | |
46 Neutral | £21.02M | -5.71 | -38.77% | ― | ― | ― |
* Energy Sector Average
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Quadrise Fuels International Corporate Events
Business Operations and StrategyProduct-Related Announcements
Quadrise Tightens Licella Bio-Oil Partnership to Advance Low-Carbon Marine Fuels
Positive
Jul 30, 2026
Quadrise has amended its Joint Development Agreement with Australian partner Licella Holdings to tighten the development focus and timeline for integrating Licella’s Cat-HTR hydrothermal liquefaction bio-oils into Quadrise’s bioMSAR an...
Business Operations and StrategyPrivate Placements and Financing
Quadrise raises £1.6m via AIM placing and UK retail offer
Positive
Jul 13, 2026
Quadrise Plc has closed its UK-only retail share offer, issuing 40,365,341 new shares at 1.0 pence each and raising about £400,000 in gross proceeds. This follows a placing and subscription completed on 10 July 2026, under which a further 120...
Business Operations and Strategy
Quadrise Publishes Updated Investor Presentation After Technical Glitch
Positive
Jul 10, 2026
Quadrise Plc has notified investors that technical issues affected its live Investor Meet Company presentation held on 10 July 2026, disrupting the full introduction and slide display. To address this, the company has made an updated version of th...
Business Operations and StrategyPrivate Placements and Financing
Quadrise launches £1.2m retail offer to fund transition to commercial revenues
Positive
Jul 8, 2026
Quadrise Plc has launched a retail offer via the BookBuild platform to raise up to £1.2 million through the issue of as many as 120,000,000 new ordinary shares at 1.0 pence each, following a separate £1.2 million placing and subscription...
Business Operations and StrategyPrivate Placements and Financing
Quadrise Raises up to £2.4m in AIM Share Placing Backed by Directors
Positive
Jul 8, 2026
Quadrise plc has conditionally raised £1.2 million through a placing of 119 million new shares and direct subscriptions for 1 million shares at 1.0 pence each, with gross proceeds potentially rising by a further £1.2 million via a separa...
Business Operations and StrategyPrivate Placements and Financing
Quadrise launches discounted £2.4m fundraise to drive commercial fuel rollout
Positive
Jul 7, 2026
Quadrise Plc has launched a £2.4 million fundraise through a placing, subscription and separate retail offer of new shares at 1.0 pence, a roughly 35% discount to the prior closing price, to institutional, other investors and existing retail ...
Business Operations and StrategyFinancial Disclosures
Quadrise Updates Valkor Utah Project Timeline and Outstanding Licence Fee
Negative
Jun 12, 2026
Quadrise Plc has reported progress on its upstream production project with Valkor Technologies in Utah, where its equipment is ready for deployment and representative heavy sweet oil samples have been prepared at Valkor’s new pilot plant for...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.