Quadrise Fuels International PLC New three-year Exclusive Agreement with Nouryon (0544P)
08 Ottobre 2019 - 8:00AM
UK Regulatory
TIDMQFI
RNS Number : 0544P
Quadrise Fuels International PLC
08 October 2019
Quadrise Fuels International plc
("QFI", "Quadrise" or the "Company")
New three-year Exclusive Agreement with Nouryon
Quadrise Fuels International plc (AIM: QFI) is pleased to
announce it has entered into an Exclusive Global Collaboration and
Emulsifiers Sales Agreement ("Agreement") with Nouryon for the
exclusive global collaboration and supply of goods and services for
future MSAR(R) projects. The Agreement will run for three years to
October 2022.
This Agreement replaces the two separate contracts with
AkzoNobel that were previously extended to November 2019 (as
announced by the Company on 26 November 2018), having been
originally entered into in November 2013. Prior to this, Quadrise
had been party to an Alliance Agreement with AkzoNobel from
November 2004.
Commenting on this development:
Mike Kirk, Executive Chairman of QFI, said:
"We are delighted that we have been able to revert to a new,
three-year agreement with Nouryon, after putting in place the
shorter-term agreement in November 2018, as a temporary measure
whilst the relevant Nouryon entities were formed. The new contract
with our core technology partner, Nouryon, reinforces the
commitment of both parties to commercialising the global MSAR(R)
business. 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. This new contract enables Quadrise to both progress and
protect the IP inherent to MSAR(R) and to provide the exclusive
supply to Quadrise of the chemicals for the production of MSAR(R)
."
Dr Staffan Asplund, R&D Director, Nouryon, said:
"We have been working with Quadrise for many years and we are
pleased to be able to continue supporting their progression,
through this new contract. It is a great example of how Nouryon is
able to deliver a unique, customised surfactant system, that
underpins Quadrise's proprietary MSAR(R) fuel technology that
delivers significant benefits for existing producers and users of
heavy fuel oil."
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) projects in development. QIL purchases, and
will continue to purchase, speciality chemicals used as emulsifiers
exclusively from NSC, which NSC supply exclusively to QIL for
oil-in-water emulsion fuel applications.
Intellectual Property arising from any future joint development
activity, or relating to past work such as MSAR(R) Marine fuels
development, is jointly owned between the parties. The Agreement is
exclusive in the field of oil-in-water emulsion fuels research and
development.
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
Mike Kirk, Executive Chairman +44 (0)20 7031 7321
Jason Miles, Chief Operating Officer
Nominated Adviser
Cenkos Securities plc
Dr Azhic Basirov +44 (0)20 7397 8900
Ben Jeynes
Katy Birkin
Joint Broker
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
David McKeown
Joint Broker
Shore Capital Stockbrokers Limited
Toby Gibbs
Fiona Conroy +44 (0)20 7408 4090
Public & Investor Relations
FTI Consulting
Ben Brewerton +44 (0)20 3727 1000
Ntobeko Chidavaenzi
For further information on Nouryon, please refer to their
website at www.nouryon.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRUGGQCUUPBGQM
(END) Dow Jones Newswires
October 08, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Quadrise (LSE:QED)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Quadrise (LSE:QED)
Storico
Da Apr 2023 a Apr 2024