Quadrise PLC Joint Development Agreement with BTG Bioliquids (0244C)
08 Giugno 2023 - 8:00AM
UK Regulatory
TIDMQED
RNS Number : 0244C
Quadrise PLC
08 June 2023
8 June 2023
Quadrise Plc
("Quadrise" or the "Company")
Joint Development Agreement with BTG Bioliquids
Quadrise (AIM:QED), the supplier of innovative energy solutions
for a cleaner planet, is pleased to announce a Joint Development
Agreement ("JDA") with renewable biofuels specialists, BTG
Bioliquids BV ("BTL").
BTL's proprietary pyrolysis technology turns abundant
agricultural and forestry residues, such as saw mill waste, into
fast pyrolysis bio-oil (FPBO), a homogeneous energy carrier, which
can be used as a direct substitute for fossil fuels or be further
upgraded into advanced biofuels. There are currently three FPBO
producing plants using BTL's technology in the Netherlands, Finland
and Sweden.
Under the JDA, the Company and BTL will collaborate in seeking
to use BTL's FPBO as a potential cost-effective renewable source of
fuel in Quadrise's bioMSAR(TM) solution. The JDA makes provision
for the Company to supply MSAR(R) blending technology at BTL's
licensed plants or biorefineries subject to future agreements with
BTL or their licensees.
Quadrise and BTL intend to jointly execute a research programme
to generate stable bioMSAR(TM) emulsions incorporating BTL's FPBO.
Successful laboratory formulations of FPBO-bioMSAR(TM) emulsions to
be generated at the Quadrise Research Facility are expected to
progress to diesel engine tests during the next 12 months. Subject
to agreement of both parties, third-party testing for marine use
would then be expected to follow. These tests are also expected to
accelerate the development of bioMSAR(TM) Zero.
Commenting on this agreement Jason Miles, CEO of Quadrise,
said:
"Quadrise is delighted to have signed this JDA with BTG
Bioliquids. Advanced biofuels derived from woody biomass remain
potentially the most price competitive net-zero biofuel solutions.
This joint collaboration fits well with our plans to commercialise
bioMSAR(TM) with MSC Shipmanagement and others, as well as
advancing our programme to supply net-zero bioMSAR(TM) by 2030. BTG
Bioliquids' fast pyrolysis bio-oils combined with Quadrise's
bioMSAR(TM) technology should provide a compelling solution for the
marine sector to accelerate decarbonisation and emissions reduction
efforts economically and safely."
Gerhard Muggen, Managing Director of BTG Bioliquids, added:
"BTG Bioliquids is pleased to have signed this agreement with
Quadrise to continue our strategy of cooperating with other
companies to develop attractive applications for fast pyrolysis
bio-oil. The successful inclusion of fast pyrolysis bio-oils into
bioMSAR(TM) would be a major step in decarbonising the shipping and
power industries.
For further information please contact:
Quadrise 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
Joint Brokers
Shore Capital Stockbrokers Limited +44 (0)20 7408 4090
Toby Gibbs, Rachel Goldstein (Corporate
Advisory)
Fiona Conroy (Corporate Broking)
VSA Capital Limited
Andrew Raca (Corporate Finance)
Andrew Monk (Corporate Broking) +44 (0)20 3005 5000
Public & Investor Relations
Vigo Consulting
Patrick D'Ancona
Charlie Neish +44 (0)20 7390 0230
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: www.quadrisefuels.com
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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