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Quadrise signs memorandum of agreement with JGC Corporation

30 Nov 2017 10:08 GMT

JGC to act as QFI's exclusive partner to jointly develop commercial MSAR projects.



Quadrise International Limited (QIL), a wholly owned subsidiary of the emerging supplier of MSAR emulsion technology and fuel, Quadrise Fuels International plc (QFI), has signed a memorandum of agreement (MOA) with Japanese engineering contractor JGC Corporation.

Under the agreement, JGC is to act as QFI's exclusive partner to work with prospective producers and consumers of MSAR in Japan, Colombia, Peru and elsewhere on a case-by-case basis to jointly develop commercial MSAR projects.

The agreement is designed to provide QFI with access to JGC's network of long-term relationships within the refining, marine and power industries in order to develop potential commercial opportunities for the production and use of MSAR.

QFI and JGC are to undertake an initial study to agree a list of potential producers and consumers of MSAR in potential markets where they would work on an exclusive basis to develop potential commercial MSAR projects.

For those joint projects that progress to commercial MSAR implementation and production, QFI will pay JGC a royalty based on sales.

The MOA is terminable by either party on 12 months' written notice.

Commenting on the news, 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. 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, commented: "We are pleased to have reached agreement with QFI. Access to their MSAR 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."


Image: Mike Kirk, Executive Chairman of Quadrise Fuels International plc. Image credit: Quadrise Fuels International




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