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Alternative fuel developer Quadrise Fuels International said it was seeking new funding to continue to operate beyond early October.
The company announced the funding drive in a statement acknowledging recent movements in its share price.
Quadrise has signed a series of non-binding memorandum of understanding deals this year to potentially developer its fuel product with partners in countries including Kuwait, Saudi Arabia, Mexico and China.
'As previously announced, the company has sufficient resources to continue to operate and advance its business development opportunities until early October 2019,' Quadrise said on Tuesday.
'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.'
At 1:16pm: (LON:QFI) Quadrise Fuels International PLC share price was -0.96p at 5.32p