Fuels processor Quadrise Fuels International (QFI) recorded a net loss of £5.2m in the first half of 2012-13 (against a £1.6m loss in the previous first half). However, the firm's focus remains on its deal with the refining segment of Saudi Arabia's state-owned oil producer, Aramco, together with wider evaluation of its alternative shipping fuel, MSAR 2, with Danish shipping giant Mærsk, which is being carried out ahead of a commercial rollout next year.
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Assuming no undue delays (always a questionable assumption), Quadrise's bosses think the company has enough cash – £4.02m – to fund itself through to the early revenue phase, especially as they assume that customers will help with the funding costs.
