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News / Business/ Quadrise Fuels seeks funding to continue operations beyond October

Quadrise Fuels seeks funding to continue operations beyond October

26 Jul 2019
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Marine fuel oil emulsification technology firm Quadrise Fuels International (QFI) on Tuesday (23 July) said it is seeking more funding to continue operations.

“As previously announced, the Company has sufficient resources to continue to operate and advance its business development opportunities until early October 2019,” it said.

“As a result, the Company confirms that it is now seeking equity or equity-linked funding to enable the Company to continue with its business development initiatives beyond early October 2019 with a view to capitalising on recent business development progress and, ultimately, to delivering commercial projects.”

The company in January raised approximately £1.51 million (US $1.97 million) from shareholders in an open offer, allowing it to continue operations until October.

Related: Quadrise raises US $1.97 million in open offer, avoids wind down
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Published: 26 July, 2019
 

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