Business
Half-year Report
Half-year Report.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 7968T Quadrise Fuels International PLC 25 March 2019 \n\n25 March 2019\n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI\", the \"Company\" and together with its subsidiaries the \"Group\")\n \n \nInterim Results for the 6 month period ended 31 December 2018\n \n \nQuadrise Fuels International plc (AIM: QFI) announces its unaudited interim results for the 6 months ended 31 December 2018 and an update on significant developments during the first quarter of 2019.\n \nOperational Summary\n \nCMPDA with Freepoint \nØ Quadrise entered into a Co-Marketing and Project Development Agreement with Freepoint Commodities LLC in November 2018, under which Quadrise and Freepoint have commenced jointly exploring and pursuing a number of MSAR® project opportunities, and seek to progress these to long-term commercialisation. Initial focus is on the Americas, Middle East and Asia, with the intention of jointly investing in projects on a build-own-operate basis.\nMoU and Test Programme with Oil Major\nØ Quadrise signed an MoU and MSAR® Pilot Test Programme with a European oil major in November 2018, under which the two companies are working together to identify potential MSAR® clients for one of the oil major's European refineries, and pursue and obtain a feasibility study agreement from a potential MSAR® fuel client for the consumption of MSAR® produced at this refinery during 2019.\nØ Quadrise will test specific refinery residues for the oil major at the Quadrise Research Facility during early Q2 2019 on a paid basis to demonstrate and optimise the blending of refinery residues to MSAR® fuel.\nServices and representation agreements for Kuwait and Morocco\nØ In Q1 2019, Quadrise entered into agreements with well-placed agents to pursue opportunities on behalf of Quadrise for the use of MSAR® in certain key markets. The agreements are with Aleph Commodities Ltd, a UK company with significant experience in the Middle East, to pursue opportunities in Kuwait, and with Younes Maamar, a former CEO of the Moroccan state electricity company, to pursue opportunities in Morocco (and potentially other countries in Africa).\n \nØ Under the terms of both agreements, Quadrise has agreed a success-based incentive structure, with material rewards only due upon the ...