15 Nov 2022 07:00
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® and bioMSAR™ 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® and bioMSAR™ projects. 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® and bioMSAR™ 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® and bioMSAR™ 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® and bioMSAR™ 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 the public domain.