Quadrise

What Quadrise does

Quadrise PLC is a UK-headquartered, AIM-listed energy technology company that develops and licences MSAR® (Multi-phase Superfine Atomised Residue), a proprietary oil-in-water emulsion fuel technology that blends viscous refinery residues with specialty chemicals (supplied under partnership with Nouryon) and water to produce a synthetic heavy fuel oil substitute. The platform is delivered through modular blending systems installable at customer sites in under 12 months and is positioned across four end-markets — Marine & Shipping, Utilities & Heavy Industry, Downstream Refining, and Upstream Production — with variants MSAR® Marine (engine-tested with two- and four-stroke diesel OEMs) and MSAR® Power (drawing on the historical Orimulsion® track record of over 60 million tonnes consumed). The company has extended the core platform into bioMSAR™ and bioMSAR™ Next-Gen biofuel variants aimed at helping marine and power customers meet 2030 net-zero targets. All development is anchored in the in-house QRF research facility in the UK.

The business model is a licensing-and-engineering services model rather than at-scale fuel production: Quadrise sells technology licences (a $1.0m fee was agreed with US partner Valkor Technologies for the Utah oil-sands project, of which $0.95m remained unpaid as of June 2026), delivers bespoke MSAR® conversion projects (including the 600 bpd Multifuel Manufacturing Unit), and runs feasibility-to-commercial deployment programmes through an enterprise field-sales motion targeting large refining, shipping and utility counterparties. Named or referenced customers and partners include MSC, Cargill, OCP (Morocco), Valkor Technologies (US), and historically Maersk, Kharafi Group, Aleph Commodities and Al Khafrah Holding Group. The company is pre-commercial for fuel sales at scale, funds operations through repeated small post-IPO placings and open offers (notably £4.55m in 2019, £1.1m in July 2023 and an oversubscribed £1.0m in April 2024), and reported Q2 2026 delays to its flagship Utah pilot. Governance was restructured in 2025 with the separation of Chair and CEO roles: Andy Morrison was appointed Non-Executive Chairman and Peter Borup (formerly Deputy Director at A.P. Moller-Maersk) became CEO in September 2025.

Name

Quadrise

Legal name

Quadrise PLC

Website

https://quadrise.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Quadrise PLC is a UK-based, AIM-listed licensor of MSAR® emulsion fuel technology, blending refinery residues into a synthetic heavy fuel oil substitute for marine, power, refining and upstream customers, with biofuel extensions bioMSAR™ and bioMSAR™ Next-Gen.

Ownership category

akta.pro rank

Product category

Emulsion Fuel Technology

NAICS

Petroleum Refineries (32411), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Oil & Gas Field Machinery & Equipment (3533), Petroleum Refining (2911)

akta.pro primary industry

Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization) (EUAAAHAG)

akta.pro secondary industries

Sustainable Aviation Fuel (SAF) Production (HEFA, FT, ATJ) (EUAAAHAE), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD)

Keywords

• Emulsion fuel technology
• Heavy fuel oil alternatives
• Synthetic biofuel solutions
• Residual oil processing
• Marine fuel technology

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Technology licensing fees: Quadrise generates revenue through licensing its proprietary MSAR® and bioMSAR™ emulsion technology to industrial customers. A $1.0 million licence fee from Valkor Technologies is referenced, of which $0.95m remained unpaid as of June 2026.
2. Project management and engineering services for MSAR® conversion: Quadrise manages MSAR® conversion projects at major refineries, marine vessels, and power stations, from feasibility studies through to commercial fuel production and consumption. Includes delivery of bespoke equipment such as the 600 bpd Multifuel Manufacturing Unit.
3. Sale/production of MSAR® synthetic fuel oil: Quadrise is an innovator and licensor of heavy oil and synthetic biofuel technology, producing its proprietary MSAR® and bioMSAR™ fuels. Future revenue expected from commercial-scale fuel production.

Pricing tiers

Go-to-market motion3 records

Core offering

Quadrise is the innovator and global licensor of MSAR® (Multi-phase Superfine Atomised Residue), a proprietary oil-in-water emulsion fuel technology that enables refineries to blend viscous residues with small quantities of specialty chemicals and water to produce a synthetic heavy fuel oil alternative. The platform is delivered through MSAR® Marine and MSAR® Power variants for marine engines and stationary boilers/furnaces, plus bioMSAR™ and bioMSAR™ Next-Gen for renewable/biofuel applications. Revenue is generated from technology licensing fees, project management and engineering services for MSAR® conversions at refineries, marine vessels and power stations, and prospective commercial-scale synthetic fuel production.

Product overview

Quadrise is a single-product-platform company built around its proprietary MSAR® (Multi-phase Superfine Atomised Residue) oil-in-water emulsion fuel technology, delivered through a portfolio of named variants and downstream applications. The core platform is MSAR®, with two main variants - MSAR® Marine (for two- and four-stroke marine diesel engines) and MSAR® Power (for stationary boilers and furnaces) - complemented by bioMSAR™, a synthetic biofuel extension, and its further evolution bioMSAR™ Next-Gen. All solutions are developed, trialled and supported through the company's in-house QRF (Quadrise Research and Operational Support Facility) in the UK, and licenced/applied to refineries, marine vessels, power stations and industrial users across the Marine & Shipping, Utilities & Heavy Industry, Downstream Refining, and Upstream Production sectors.

Differentiator

Problem solved

Functional benefit

Brands

• MSAR®: Proprietary oil-in-water emulsion fuel technology brand (Multi-phase Superfine Atomised Residue). MSAR® is offered in Marine and Power variants for use in marine engines, power generation boilers and industrial applications.
• bioMSAR™
• bioMSAR™ Next-Gen

Products and services

• MSAR® (Multi-phase Superfine Atomised Residue) Proprietary oil-in-water emulsion fuel technology that combines viscous refinery residues with small amounts of specialty chemicals and water to produce a synthetic heavy fuel oil alternative. Sold/licensed to refineries, marine operators, power utilities and heavy industry to free up distillate yields and deliver immediate emissions reductions.
• bioMSAR™ Synthetic biofuel emulsion offering that extends the MSAR® platform to renewable and bio-based feedstocks, enabling lower-carbon fuel alternatives for marine and power generation customers and supporting net-zero targets.
• bioMSAR™ Next-Gen Next-generation evolution of bioMSAR™ offering further improved emissions reduction and renewable fuel production for marine and power generation applications.
• MSAR® Marine and MSAR® Power (engineered MSAR® conversion packages) Engineered MSAR® conversion packages delivered as two deployment variants: MSAR® Marine for two- and four-stroke marine diesel engines (tested with major shipping lines and original engine manufacturers) and MSAR® Power for stationary boilers and furnaces (drawing on more than 60 million tonnes of Orimulsion® commercial precedent). Includes bespoke modular non-polluting blending systems installable at customer sites in under 12 months, the 600 bpd Multifuel Manufacturing Unit, and full QRF-led engineering services from feasibility to commercial production.

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• GoodFuels: GoodFuels supplies sustainable biofuels for the marine sector — the same end-customer set (shipping companies, including MSC) that Quadrise targets with bioMSAR™. Both companies are competing to be the lower-carbon heavy-fuel-oil substitute of choice for shipowners under IMO regulations.
• CleanSea Solutions (Cleanseas): CleanSea Solutions / Cleanseas is a marine fuel technology and supply company developing cleaner and lower-carbon marine fuels. It directly competes with Quadrise in supplying alternative fuel-oil solutions to shipping customers.

Broad incumbents

• Neste: Neste is the world's largest producer of renewable diesel and sustainable marine fuels (Neste MY Renewable Diesel™) from waste and residues. It is the dominant incumbent alternative-fuel supplier to the marine and heavy-industry customers that Quadrise's bioMSAR™ also targets.

Emerging players

• Infinium: Infinium is an emerging e-fuels company producing low-carbon synthetic fuels from captured CO₂ and green hydrogen. It targets the same shipping and heavy-industry decarbonisation customers as bioMSAR™ Next-Gen, representing a competing decarbonisation pathway for fleet owners evaluating options today.
• LanzaTech: LanzaTech uses gas-fermentation technology to convert industrial off-gases and biomass into low-carbon fuels and chemicals, including sustainable aviation fuel and marine fuel. It competes with Quadrise for the same lower-carbon marine/heavy-fuel pool using a fundamentally different production pathway.
• Velocys: Velocys develops Fischer-Tropsch micro-channel technology to convert biomass and waste into synthetic crude oil and sustainable aviation fuel. It targets refining-adjacent and biofuel customers overlapping with Quadrise's downstream-refining and bioMSAR™ focus.
• Promethean Particles: Promethean Particles is a UK-based chemistry company developing continuous-flow emulsion and particle technology with industrial applications. It is an emerging competitor in the broader emulsion/mixing technology space relevant to MSAR®'s core chemistry.
• Prometheus Fuels: Prometheus Fuels is developing net-zero synthetic gasoline, diesel and jet fuel from direct air capture of CO₂. It represents an alternative low-carbon liquid fuel pathway targeting the same transportation and heavy-fuel end-markets as Quadrise.
• Echandia: Echandia supplies zero-emission fuel-cell and battery energy systems for the maritime industry. While using a different technology (fuel cells), it competes for the same maritime decarbonisation budget that Quadrise's bioMSAR™ targets.

Regional players

• HIF Global: HIF Global is a Chilean-headquartered e-fuels developer building commercial synthetic fuel plants in Chile, Texas, Uruguay and Australia. It targets heavy transport, marine and industrial fuel customers and is a regional competitor for shipping decarbonisation in the Americas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Quadrise