Business
Execution of Contracts with AkzoNobel
Execution of Contracts with AkzoNobel.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 4572T Quadrise Fuels International PLC 20 November 2013 \n \n\n 20 November 2013\n \nQuadrise Fuels International Plc\n(\"QFI\", \"Quadrise\" or the \"Company\")\n \nExecution of contracts with AkzoNobel,\n to provide on-going support for active programmes.\n \nQuadrise, the emerging supplier of MSAR®, 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. \n \nCommenting on this development, Ian Williams, Executive Chairman of QFI, said:\n \n\"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.\"\n \nQuadrise International Limited (QIL), the 100% owned operating subsidiary of QFI, is the contracting party for both agreements. \n \nCo-operation and Exclusive Purchase and Supply Agreement\n \nThis 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® 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® Technology. The agreement term is a minimum of three years.\n \nJoint Development Agreement\n \nThis 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 perf...