Quadrise Fuels International PLC Extension of Exclusive Agreement with Nouryon (3654G)
November 15 2022 - 2:00AM
UK Regulatory
TIDMQFI
RNS Number : 3654G
Quadrise Fuels International PLC
15 November 2022
15 November 2022
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Extension of Exclusive Agreement with Nouryon
Quadrise (AIM:QFI), the supplier of MSAR(R) and bioMSAR(TM)
emulsion technology and fuels, is pleased to announce the extension
of the Exclusive Global Collaboration and Emulsifiers Sales
Agreement ("Agreement") with Nouryon , a global specialty chemicals
leader, for the exclusive supply of goods, services and IP for
future MSAR(R) and bioMSAR(TM) p rojects. The Agreement, the terms
of which were announced on 8 October 2019, will now run for a
further three years to October 2025.
Commenting on the Agreement, Jason Miles, CEO of Quadrise,
said:
"We are delighted to have extended our long-standing and
successful collaboration with Nouryon for a further three years.
This extension reinforces the commitment of both parties to
commercialising Quadrise's proprietary fuels and biofuels,
providing more sustainable and economical solutions for the energy
and marine sectors."
Commenting on the Agreement Joppe Smit, Vice President of
Natural Resources and Intermediates for Nouryon, said:
"Working closely with our customers to support the
decarbonisation journey of key industries like marine and power
generation is a key part of our strategy. The extension of our
long-standing partnership with Quadrise is an example of the
collaboration and innovation required to tackle world's energy
transition challenges. It also reiterates Nouryon's commitment to
consistently provide sustainable solutions to our customers
globally."
Background to the Nouryon Agreement:
The Agreement between Quadrise International Limited ("QIL"), a
subsidiary of the Company, and Nouryon Surface Chemistry AB ("NSC")
continues the commercial relationship between the parties relating
to the purchase and supply of goods and associated technical
services to MSAR(R) and bioMSAR(TM) projects in development. QIL
purchases, and will continue to purchase, speciality chemicals used
as emulsifiers exclusively from NSC, which NSC supplies exclusively
to QIL for oil-in-water emulsion fuel and biofuel applications.
Intellectual Property arising from any future joint development
activity, or relating to past work such as MSAR(R) and bioMSAR(TM)
development, is jointly owned between the parties in agreed
territories. The Agreement is exclusive in the field of
oil-in-water emulsion fuels and biofuels research and development
unless otherwise agreed jointly.
For further information please contact:
Quadrise Fuels International Plc +44 (0)20 7031 7321
Andy Morrison, Chairman
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc +44 (0)20 7397 8900
Ben Jeynes
Katy Birkin
Broker
Shore Capital Stockbrokers Limited +44 (0)20 7408 4090
Toby Gibbs
Fiona Conroy
Public & Investor Relations
Vigo Consulting
Patrick D'Ancona
Charlie Neish +44 (0)20 7390 0230
Nouryon
Regina Tracy
Head of Communications, Performance
Formulations and the Americas +1-484-745-5414
About Quadrise
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.
Learn more at www.quadrisefuels.com , @QFIPLC and on
LinkedIn.
About Nouryon
Nouryon is a global, specialty chemicals leader. Markets and
consumers worldwide rely on our essential solutions to manufacture
everyday products, such as personal care, cleaning goods, paints
and coatings, agriculture and food, pharmaceuticals, and building
products. Furthermore, the dedication of more than 7,650 employees
with a shared commitment to our customers, business growth, safety,
sustainability and innovation has resulted in a consistently strong
financial performance. They operate in over 80 countries around the
world with a portfolio of industry-leading brands.
Learn more at www.nouryon.com , @Nouryon and on LinkedIn.
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
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