Quadrise Fuels International PLC Memorandum of Agreement with JGC Corporation (9730X)
November 30 2017 - 4:34AM
UK Regulatory
TIDMQFI
RNS Number : 9730X
Quadrise Fuels International PLC
30 November 2017
30 November 2017
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Memorandum of Agreement with JGC Corporation
Quadrise Fuels International plc (AIM: QFI) is pleased to
announce that the Company's wholly owned subsidiary, Quadrise
International Limited ("QIL"), has signed a Memorandum of Agreement
("MOA") with JGC Corporation ("JGC").
JGC is one of the world's leading engineering contractors and
Japan's largest, providing a wide range of engineering,
procurement, construction, operation and maintenance, and planning
and investment services to major corporate and governmental
customers throughout the world.
JGC will act as QFI's exclusive partner to work with prospective
producers and consumers of MSAR(R) in Japan, Colombia, Peru and
elsewhere on a case-by-case basis (the "Potential Markets"), to
jointly develop commercial MSAR(R) projects.
This agreement will provide QFI with access to JGC's extensive
network of long-term relationships within the refining, marine and
power industries to develop potential commercial opportunities for
the production and use of MSAR(R). QFI and JGC will undertake an
initial study to agree a list of potential producers and consumers
of MSAR(R) in the Potential Markets where they would work on an
exclusive basis to develop potential commercial MSAR(R) projects.
The MOA is terminable by either party on 12 months written
notice.
For those joint projects that progress to commercial MSAR(R)
implementation and production, QFI will pay JGC a royalty based on
sales.
Mike Kirk, Executive Chairman of QFI, said:
"We believe that this is an exciting opportunity for QFI to
harness JGC's leading position in key markets for the production
and use of MSAR(R). This will not only increase the scale of the
addressable market but also accelerate its development. We look
forward to developing a long-term and mutually beneficial
relationship with JGC."
Takashi Yasuda, Senior Executive Officer of JGC's Technology
Innovation, said:
"We are pleased to have reached agreement with QFI. Access to
their MSAR(R) technology will enable JGC to offer its clients a
cost-effective and environmentally beneficial alternative to HFO
that can be implemented rapidly. We look forward to working with
QFI and building what we expect to be a significant new business
stream."
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International
Plc
+44 (0)20 7031
Mike Kirk, Executive Chairman 7321
Jason Miles, Chief Operating
Officer
Nominated Adviser
Smith & Williamson Corporate
Finance Limited
Dr Azhic Basirov +44 (0)20 7131
Ben Jeynes 4000
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Public & Investor Relations
FTI Consulting
Ben Brewerton +44 (0)20 3727
Sara Powell 1000
Notes to Editors
QFI is the supplier of MSAR(R) emulsion technology and fuels, a
low-cost alternative to heavy fuel oil (one of the world's largest
fuel markets, comprising over 450 million tons per annum) in the
global shipping, refining and steam and power generation
industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRLIFVALLLIVID
(END) Dow Jones Newswires
November 30, 2017 04:34 ET (09:34 GMT)
Quadrise (LSE:QED)
Historical Stock Chart
From Aug 2024 to Sep 2024
Quadrise (LSE:QED)
Historical Stock Chart
From Sep 2023 to Sep 2024