Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

15 September 2025

Quadrise plc

("Quadrise", "QED" or the "Company")

CEO Appointment

Experienced leader in the shipping industry, Peter Borup, joins as CEO to drive commercialisation in next stage of growth

Quadrise plc (AIM: QED), the technology company focused on the decarbonisation of shipping and heavy industry through deployment of low emission fuels and biofuels, is pleased to announce the appointment of Peter Borup as Chief Executive Officer effective 1 October 2025.   

Peter is an accomplished international CEO with over 30 years' experience in the shipping industry. He began his career at A.P. Moller-Maersk, rising to Deputy Director level, before moving into senior leadership roles at several major cargo shipping operators. These included serving as Senior Vice President and Managing Director at D/S Norden in Asia, followed by President and CEO positions at Lauritzen Bulkers and NORVIC Shipping International respectively.

During his career, Peter has worked in key global shipping hubs (Copenhagen, Seoul, Beijing, Singapore and Dubai) leading strategy, investment and shipping operations.

Beyond his leadership roles in shipping, Peter has contributed to maritime technology and innovation, serving on the investment committees of Rainmaking, Motion Ventures and The Shipping Collective as well as serving on the board of AI start-up, Shipster.ai.

Peter has degrees from IMD Business School (MBA), Wharton Business School (Advanced Management Program), Copenhagen Business School (Advanced Board Program) and most recently he was a Fulbright Scholar at Georgetown University (Asia Studies).

Andy Morrison, Chair of Quadrise, commented:

"We are delighted to have appointed Peter to become CEO of Quadrise. His extensive expertise and relationships in the shipping industry will undoubtedly help us at this pivotal time for the Company as we move our technology towards commercialisation. The knowledge and work he also has in the decarbonisation space will also further enable us to progress our technology offering and strategy." 

"We look forward to welcoming him to the Board in October and working with him to drive Quadrise forward."

Peter Borup, incoming CEO of Quadrise said:

"I am excited to be joining the Quadrise team. The Company's technology is becoming increasingly important as the shipping industry looks to decarbonise and move towards a greener and more sustainable future. A range of transition technologies are available that, individually or in combination, can deliver meaningful reductions in emissions-those offered by Quadrise also provide substantial cost savings. I look forward to working with the team to drive the strategy forward as well as help identify further opportunities to grow the business and its offering, unlocking value for shareholders and partners."

For further information please contact:

Further information on Peter Borup

The directorships and partnerships currently held by Peter Borup, aged 57, and over the five years preceding the date of his appointment are as follows:

About Quadrise

Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels and biofuels, providing innovative solutions to lower energy costs, pollution and greenhouse gas emissions today for the global power generation, shipping, industrial and oil industries.

Learn more at: www.quadrise.com

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LinkedIn: @Quadrise Plc

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