Quadrise Fuels completes placing of 50m shares

Quadrise Fuels International, which supplies a low-cost alternative to heavy fuel oil in the shipping, refining, and power generation markets, has completed the placing of 50m new ordinary at 7p.

Quadrise Fuels International, which supplies a low-cost alternative to heavy fuel oil in the shipping, refining, and power generation markets, has completed the placing of 50m new ordinary at 7p.

The proceeds of the placing, which totalled £3.5m, is believed to be sufficient to allow the company to develop its current projects to the stage when they can generate net positive cash flow from continuing operations, as well as to strengthen the company's balance sheet in order to meet any additional capital expenditure and general working capital requirements of the group.

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