Wednesday, November 20, 2013 5:50:57 AM
Quadrise Fuels International Plc
("QFI", "Quadrise" or the "Company")
Execution of contracts with AkzoNobel,
to provide on-going support for active programmes.
Quadrise, the emerging supplier of MSAR(R), a low-cost alternative to fuel oil in the shipping, refining, and power generation markets, is pleased to announce it has executed two contracts with AkzoNobel group companies ("AkzoNobel") for the exclusive purchase and supply of goods and services, and for the continued exclusive joint development of emulsion fuels. These contracts replace the Alliance Agreement signed in 2004, thus ensuring continuity and on-going support from AkzoNobel for the Company's expanding development programmes.
Commenting on this development, Ian Williams, Executive Chairman of QFI, said:
"These new agreements reinforce the commitment of the parties and clarify the roles and contributions of Quadrise and AkzoNobel in our future activities. This is a very positive development and will promote a sound and beneficial association as our major business programmes continue to evolve."
Quadrise International Limited (QIL), the 100% owned operating subsidiary of QFI, is the contracting party for both agreements.
Co-operation and Exclusive Purchase and Supply Agreement
This agreement between QIL and Akzo Nobel Surface Chemistry AB ("ANSC") defines the commercial relationship relating to the purchase and supply of goods and associated technical services to projects in development. QIL will acquire or facilitate the supply of MSAR(R) Manufacturing Units directly from suppliers for sale to refiners. For fuel applications QIL will buy goods such as emulsifiers exclusively from ANSC, which ANSC will supply exclusively to QIL. QIL will supply goods and services directly to refiners licensed by QIL to use Quadrise MSAR(R) Technology. The agreement term is a minimum of three years.
Joint Development Agreement
This agreement between QIL and Akzo Nobel Chemicals BV deals with joint technical programmes that support new business opportunities and are principally focussed on the formulation and processing of novel fuel emulsions to optimise performance and cost.
Intellectual Property arising from these programmes (including past work such as MSAR(R) Marine fuels development) will now be jointly owned. The agreement is exclusive in the field of emulsion fuels research and development. The agreement term is evergreen with 12 months' notice by either party.
These agreements incorporate AkzoNobel's standard conditions for customer supply contracts. Royalties will no longer be payable by QIL to AkzoNobel on MSAR(R) fuel production.
http://seekingalpha.com/article/1782012-quadrise-fuels-is-this-a-midcap-energy-company-in-the-making
http://www.quadrisefuels.com
http://wikisend.com/download/881384/QFI_Edison.pdf
FEATURED Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM