(Sharecast News) - Synthetic fuels developer Quadrise Fuels has entered into a collaboration and sales agreement with Nouryon for the exclusive global collaboration and supply of goods and services for future MSAR projects.
Quadrise will continue to purchase speciality chemicals used as emulsifiers exclusively from Nouryon, which NSC supplies exclusively to Quadrise for oil-in-water emulsion fuel applications.
Intellectual property arising from any future joint development activity, or relating to past work such as MSAR marine fuels development, will be jointly owned by both parties
Quadrise's agreement, set to run until October 2022, will replace two separate contracts with AkzoNobel that were previously extended to November 2019.
Prior to this, the AIM-listed group had been party to an alliance agreement with AkzoNobel from November 2004.
Chairman Mike Kirk said: "Our long-term relationship with Nouryon continues to underpin our ability to move the company towards long-term commercial revenues, as we progress our business development activities towards large-scale trials followed by commercial roll-out."
As of 0950 BST, Quadrise shares were down 0.62% at 4p.
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