Business
Memorandum of Agreement with JGC Corporation
Memorandum of Agreement with JGC Corporation.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 9730X Quadrise Fuels International PLC 30 November 2017 \n\n \n30 November 2017\n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI'' or the \"Company\")\n \nMemorandum of Agreement with JGC Corporation\n \nQuadrise Fuels International plc (AIM: QFI) is pleased to announce that the Company's wholly owned subsidiary, Quadrise International Limited (\"QIL\"), has signed a Memorandum of Agreement (\"MOA\") with JGC Corporation (\"JGC\").\n \nJGC is one of the world's leading engineering contractors and Japan's largest, providing a wide range of engineering, procurement, construction, operation and maintenance, and planning and investment services to major corporate and governmental customers throughout the world. \n \nJGC will 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 (the \"Potential Markets\"), to jointly develop commercial MSAR® projects.\n \nThis agreement will provide QFI with access to JGC's extensive network of long-term relationships within the refining, marine and power industries to develop potential commercial opportunities for the production and use of MSAR®. QFI and JGC will undertake an initial study to agree a list of potential producers and consumers of MSAR® in the Potential Markets where they would work on an exclusive basis to develop potential commercial MSAR® projects. The MOA is terminable by either party on 12 months written notice. \n \nFor those joint projects that progress to commercial MSAR® implementation and production, QFI will pay JGC a royalty based on sales.\n \n Mike Kirk, Executive Chairman of QFI, said:\n \n\"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.\"\n \nTakashi Yasuda, Senior Executive Officer of JGC's Technology Innovation, said:\n \n\"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 environ...