Business
Framework Agreement with MSC Shipmanagement
Framework Agreement with MSC Shipmanagement.
About this update from Quadrise Plc
[{"type":"text","content":"\n \n \n 27 July 2022\n \n \n \n \n \n Quadrise Fuels International plc\n \n \n (\"Quadrise,\" \"QFI\" or the \"Company\")\n \n \n \n \n \n Framework Agreement with MSC Shipmanagement Limited\n \n \n Quadrise (AIM:QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, is delighted to announce it has signed a Framework Agreement (\"Agreement\") with MSC Shipmanagement Limited of Cyprus (\"MSC Shipmanagement\"), a 100% subsidiary of MSC Mediterranean Shipping Company SA (\"MSC\").\n \n \n \n \n \n Under the Agreement, proof-of-concept tests and subsequent operational trials will be carried out using both bioMSAR™ and MSAR® fuel on one or more commercial container vessels, as essential precursor steps to the intended commercial supply of these fuels to MSC's global fleet.\n \n \n \n \n \n The proof-of-concept tests for each of\n bioMSAR™ and MSAR®\n will be conducted on a vessel now owned by MSC that was previously used for prior successful MSAR® demonstrations on a 69MW 2-stroke engine and commence by no later than 31 December 2022, subject to the ongoing availability of the vessel (the \"POC Trials\"). Each POC Trial is estimated to require 1,000 metric tons (\"MT\") of fuel to confirm engine performance on the vessel.\n \n \n \n \n \n Subject to positive results from the POC Trials, the fuels will undergo subsequent operational trials to provide commercial operating experience with a view to obtaining Letters of No Objection (\"LONOs\") from the engine manufacturer (the \"Trials\") after proving operational viability of\n bioMSAR™ and MSAR®\n at both an interim (midway) and final stage (after circa 4,000 operating hours).\n \n \n \n \n \n It is estimated that approximately 25,000MT of fuel will be required for each of the Trials, with fuel produced by Quadrise and purchased by MSC. In conjunction with the Trials, MSC and Quadrise will jointly continue discussions with other marine engine suppliers to investigate testing bioMSAR™ and MSAR® on their engines.\n \n \n \n \n \n In parallel, subject to the successful progression of the Trial to the Interim LONO stage, Quadrise and MSC intend to negotiate a collaborative commercial agreement (or agreements) to supply bioMSAR™ and/or MS...