London-listed tech firm Quadrise plc has appointed serial entrepreneur Peter Borup as its new CEO.
Borup joins the technology company focused on the decarbonisation of shipping and heavy industry through deployment of low emission fuels and biofuels, bringing over 30 years of 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, he has worked in key global shipping hubs including Copenhagen, Seoul, Beijing, Singapore and Dubai, leading strategy, investment and shipping operations.
He also serves on the investment committees of Rainmaking, Motion Ventures and The Shipping Collective as well as serving on the board of AI startup Shipster.ai.
His arrival at the London-headquartered company, which has a market cap of £65.1m, comes as the firm moves its tech towards commercialisation.
“We are delighted to have appointed Peter to become CEO of Quadrise,” said Andy Morrison, chair 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.”
Borup added: “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.”