Quadrise Plc Benefits from European Innovation Support Grant
Quadrise Secures EU Grant for Maritime Innovation
Shares of Quadrise Plc saw a notable increase as the company announced its participation in an exciting consortium called SEASTARS. This initiative recently finalized a grant agreement with the European Climate, Infrastructure, and Environment Executive Agency (CINEA), leading to a positive response in Quadrise's market performance.
Funding Details for Sustainable Projects
The financial boost from CINEA is part of their Horizon program, which is strategically designed to fund endeavors aimed at minimizing greenhouse gas emissions and enhancing energy efficiency within the maritime sector. Through this grant, Quadrise has been awarded up to €63,500 to facilitate its contributions to this groundbreaking initiative.
Innovations in Decarbonization
This vital funding will enable Quadrise to incorporate its innovative technology into vessel designs effectively. The aim is to develop actionable decarbonization strategies tailored for vessel owners and operators, ultimately leading to significant advancements in sustainability practices across the industry.
The SEASTARS Consortium
The SEASTARS project is a collaborative effort involving 17 companies that bring together a diverse range of skills, including research and design from various institutes, the expertise of technology providers, and the operational experience of ship operators and naval architects. This collaboration is vital for tackling the pressing challenges of emissions in the maritime realm.
Setting New Standards for Emissions Reduction
One of the consortium's ambitious objectives is to achieve a remarkable 30% reduction in greenhouse gas emissions within the maritime industry, while also striving for a 20% enhancement in energy efficiency. Quadrise is at the forefront of this movement, contributing its proprietary "Blend-On-Board" emulsion technology, which is particularly revolutionary as it combines renewable fuels to help diminish ship emissions.
Future-Proofing the Maritime Sector
Quadrise's technology is expected to be integrated into the designs of eight distinct vessel prototypes. The goal is to ensure these innovative designs are market-ready by December 2027, paving the way for a more sustainable future in maritime operations.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.