Quadrise Fuels International PLC Material Transfer & Cooperation Agreement (6077O)
June 13 2022 - 2:30AM
UK Regulatory
TIDMQFI
RNS Number : 6077O
Quadrise Fuels International PLC
13 June 2022
13 June 2022
Quadrise Fuels International plc
("Quadrise," "QFI" or the "Company")
Material Transfer & Cooperation Agreement
Further to the announcement on 9 May 2022, Quadrise (AIM:QFI),
the supplier of MSAR(R) and bioMSAR(TM) emulsion technology and
fuels, providing innovative lower cost and lower carbon
alternatives to fuel oil and biofuels, is pleased to announce it
has signed a new Material Transfer & Cooperation Agreement (the
"Agreement") with its client in Morocco (the "Client"). This
Agreement supersedes the original agreement with the Client,
announced on 29 November 2019.
Under the terms of the Agreement, Quadrise will manufacture
trial quantities of MSAR(R) and bioMSAR(TM) for the purpose of an
industrial demonstration test at one of the Client's sites.
Quadrise will then provide the Client with a written report on the
efficacy of using MSAR(R) and bioMSAR(TM). Provided the
Client-specified deliverables regarding performance and product
quality are met, the parties will enter into discussions for a
potential commercial supply of MSAR(R) and/or bioMSAR(TM).
In parallel, Quadrise will also complete a technical and
economic feasibility study for a potential additional industrial
demonstration test at a second site of the Client. This study is
close to completion, pending a final visit to the second site by
the Quadrise team. T his additional industrial demonstration test
will be subject to future agreement, once confirmed.
The industrial demonstration test and feasibility study covered
by this Agreement will occur concurrently, with completion expected
in Q3 2022.
The Agreement is valid for one year unless mutually
extended.
Jason Miles, CEO of Quadrise, commented:
"We are advancing all of our projects to progress them towards
commerciality. We are pleased that we have renewed our agreement
with this key Client in Morocco. We are confident that we will be
able to demonstrate the economic and environmental benefits of
using MSAR(R) and bioMSAR(TM) at the Client's industrial site, and
look forward to expediting the project."
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
Andy Morrison, Chairman
Jason Miles, Chief Executive Officer +44 (0)20 7031 7321
Nominated Adviser
Cenkos Securities plc
Ben Jeynes +44 (0)20 7397 8900
Katy Birkin
Broker
Shore Capital Stockbrokers Limited
Toby Gibbs +44 (0)20 7408 4090
Fiona Conroy
Public & Investor Relations
Vigo Consulting
Patrick D'Ancona
Charlie Neish +44 (0)20 7390 0230
Notes to Editors
Quadrise is the supplier of MSAR(R) and bioMSAR(TM) emulsion
technology and fuels, providing innovative lower cost and lower
carbon alternatives to fuel oil and biofuels in the global power
generation, shipping, industrial and refining industries.
This announcement is inside information for the purposes of
article 7 of Regulation 596/2014.
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END
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