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Quadrise raises US $1.97 million in open offer, avoids wind down

Firm now funded in the short term to continue operating until early October 2019, says board.

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Marine fuel oil emulsification technology firm Quadrise Fuels International (QFI) on Monday (21 January) said it has raised approximately £1.51 million (US $1.97 million) in its latest open offer.

“We are delighted to have received an enthusiastic response from Quadrise's existing shareholders to the Open Offer,” said Mike Kirk, Executive Chairman of Quadrise.

“We would like to thank our shareholders for their continued strong support.  Having raised gross proceeds of £1.51 million from the Open Offer, Quadrise is now funded in the short term to build on the substantial progress made in our business development operations, and progress during 2019 our plans for the migration to commercial operations.”

It earlier announced a non-underwritten open offer to raise up to £2.16 million (USD $2.75 million) in order to continue operations; if unable to do so, the company will conduct an “orderly winding down”.

As at 30 November 2018, the company had unaudited estimated cash balances of approximately £1.2 million and monthly expenses of approximately £220,000 per month.

Moving forward, the Board considers that, together with its existing cash balances, the latest proceeds of the open offer will enable QFI to continue operating until early October 2019.

Related: Quadrise may conduct ‘orderly winding down’ if latest Open Offer unsuccessful
RelatedQuadrise Fuels enter MOU and pilot test programme for MSAR fuel
RelatedQuadrise fuel emulsification projects suffer $4.32 million loss
RelatedQuadrise: Economics for MSAR projects to improve with IMO 2020
RelatedQuadrise: Marine fuel emulsification markets ‘positive’
RelatedQuadrise emulsified fuel oil project suffers setback

Published: 24 January, 2019
 

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Alternative Fuels

Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Following the successful deployment of “ONE Singapore” and its sister vessels, “ONE Solidarity” will be deployed on the Mediterranean Pacific South 2 (MS2) service.

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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Singapore-based container shipping company Ocean Network Express (ONE) on Thursday (3 July) said it celebrated the maiden voyage of containership ONE Solidarity as the ship made its first-ever arrival in Shekou, China. 

“As one of our S-series methanol and ammonia ready container vessels, ONE Solidarity is another demonstration of ONE’s commitment to sustainable shipping,” the company said in a social media post. 

Following the successful deployment of ONE Singapore and its sister vessels, ONE Solidarity will be deployed on the Mediterranean Pacific South 2 (MS2) service. 

“Her deployment will boost our service capacity, ensuring faster, more reliable, and highly efficient shipping offerings across key global trade lanes,” the company added.

 

Photo credit: Ocean Network Express
Published: 3 July, 2026

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Alternative Fuels

“Lucia Cosulich” enters final preparation ahead of bunkering operations

Following delivery of the ship in China, it will now enter the final preparation phase ahead of its next operational steps, strengthening Fratelli Cosulich’s ability to provide reliable bunkering solutions.

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“Lucia Cosulich” enters final preparation ahead of bunkering operations

Fratelli Cosulich Marine Energy on Thursday (2 July) celebrated the delivery of Lucia Cosulich at Taizhou Maple Leaf Shipyard in China.

The vessel is the second of four sister methanol-ready IMO II bunker tankers developed within the Group’s fleet expansion programme and follows the launching ceremony held on 2 May 2026.

Designed to support the Group’s bunkering operations and future fuel requirements, Lucia Cosulich is part of the new generation of vessels developed by Fratelli Cosulich Marine Energy to combine operational reliability, safety and fuel flexibility.

Lucia Cosulich will now enter the final preparation phase ahead of its next operational steps, further strengthening the Group’s ability to provide reliable bunkering solutions.

“We wish Lucia Cosulich and her crew fair winds on the next stage of her journey,” the company said. 

Related: Fratelli Cosulich launches second methanol-ready bunker tanker in China

 

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

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Business

Glencore backs FincoEnergies’ biofuel growth with majority stake acquisition

With Glencore’s support, FincoEnergies is well positioned to continue expanding its offerings in biofuels across multiple transport segments and to increase its presence in new geographies.

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Dutch biofuel supplier FincoEnergies on Thursday (2 July) announced the completion of global commodities trader Glencore’s acquisition of a majority stake in the company, forming a partnership with Coloured Finches.

FincoEnergies said its fuel distribution and logistics infrastructure, customer relationships and expertise in downstream fuel transportation will be complemented by Glencore’s global scale, sourcing capabilities and experience across the energy value chain.

With Glencore’s support, FincoEnergies added it is well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments and to increase its presence in new geographies.

Jan-Willem van der Velden, FincoEnergies CEO and Founder, said: “Today marks an exciting next step for FincoEnergies. Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition. With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve.”

Maxim Kolupaev, Head of Glencore Energy UK, said: “Glencore’s investment in FincoEnergies strengthens the presence of our business in Northwest Europe and creates a strong platform for future growth. We are looking forward to continuing to work closely with the FincoEnergies team and building on the successful relationship we have already developed together.”

Manifold Times previously reported FincoEnergies signing an agreement with Glencore for the acquisition of a majority shareholding in the FincoEnergies Group in a partnership with Coloured Finches.

Related: Glencore acquires majority stake in Dutch biofuel supplier FincoEnergies

 

Photo credit: FincoEnergies
Published: 3 July, 2026

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