Freepoint tie-up20 Feb 2019 15:07
Freepoint tie-up could be transformational
But while previous trials and agreements haven’t led to anything more formal or commercial – something reflected in Quadrise’s £27mln market cap – there is much more optimism surrounding a recent tie-up with US commodities powerhouse, Freepoint.
In the past, the company has acted as a quasi-middleman: it would license its technology to a refiner and then go and find it a customer to sell the MSAR to.
“With Freepoint, what we’re looking to do is buy the residue from the refiner, build and operate an MSAR production facility and then sell that directly to consumers,” explains Kirk.
“We think this enables us to look at these opportunities in a totally different way. We’ve got much more control of the overall project and it’ll bring things together on a much more rapid scale.”
Whether it is with Freepoint or on its own, Kirk’s plan for 2019 is to take a project and progress it, which would give him something to point to when he’s looking to get other projects off the ground. The thinking goes that as soon as one customer starts using MSAR, others will follow suit.
“What we’re looking to do during 2019 is take us from where we are now, which we believe is a company that’s always had great promise but has failed to deliver on that, to actually taking at least one of the projects that we’re working on forward, either on our own or with our partners.”
With a recent fund-raise bringing in some much-needed cash, which gives the company some financial breathing room, Kirk is confident that 2019 will be the year when Quadrise makes the transition from talker to doer.