Quadrise shares sink as FY progress fails to meet expectations

(Sharecast News) - Energy transition technology firm Quadrise shares fell sharply on Friday after it admitted full-year progress had failed to meet expectations, with both delays to key marine trials and revised payment schedules at its Valkor project weighing on sentiment.

Quadrise said that while it closed the year in a stronger position following a £6.5m fundraise and the appointment of a new chief executive, overall progress had been slower than anticipated.

The AIM-listed group pointed to delays in finalising trial agreements with MSC and Cargill, noting that logistical complexities and posttrial commercial supply considerations had pushed back timelines.

At its Valkor project in Utah, slower production growth prompted a revised timetable for licensing and equipment fees. Quadrise confirmed that only $50,000 of a $1m licence fee had been received so far, with further staged payments of $950,000 now due by June 2026. Additional payments for manufacturing units and service charges were scheduled into late 2026, extending its expected cash inflows.

Elsewhere, Quadrise pointed to successful proofofconcept trials in Panama and ongoing discussions in Morocco, but acknowledged that more aggressive project management would be needed to accelerate commercialisation.

Chief executive Peter Borup said: "We obviously would have liked to have more to say about progress of the Company's main projects. However, we have taken advantage of the successful fund raising to significantly increase our experience base and capacity to improve our marine project management and the commercialisation of our unique technology."

As of 1010 GMT, Quadrise shares had slumped 11.01% to 2.67p.

Reporting by Iain Gilbert at Sharecast.com