Business
MOU with Freepoint Commodities LLC
MOU with Freepoint Commodities LLC.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 9527U Quadrise Fuels International PLC 18 July 2018 \n\n18 July 2018\n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI\" or the \"Company\")\n \nMemorandum of Understanding with Freepoint Commodities LLC\n \nThe Company is pleased to announce it has signed a Memorandum of Understanding (\"MOU\") with Freepoint Commodities LLC (\"Freepoint\"). \n \nFreepoint, which is based in Stamford, Connecticut, is both an established global merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets. Freepoint also provides physical supply services and related structured solutions for counterparties located throughout the world.\n \nPursuant to the MOU, Quadrise and Freepoint intend to work together to pursue commercial arrangements involving the production and supply of MSAR® fuel to producers and consumers by utilising Quadrise MSAR® technology, additives and services coupled with Freepoint's marketing, trading, logistics and financial services capabilities.\n \nUnder the MOU, during the next 24 months the parties plan to jointly investigate and pursue selected MSAR® project opportunities in the Americas, with a number of identified counterparties, and in Asia on an exclusive basis with the goal of entering into commercial agreements for MSAR® production and supply arrangements with fuel producers and consumers.\n \nCommenting on this development, Mike Kirk, Executive Chairman of QFI, said:\n \n\"We are delighted to sign this MOU with Freepoint and are confident that with the combination of Quadrise's MSAR® technology and fuel experience, and Freepoint's world-leading oil products trading and financing capabilities, we will be able to progress and accelerate selected MSAR® projects globally.\"\n \nFor further information on QFI, please refer to the Company's website at www.quadrisefuels.com, or contact [email protected] or phone:\n \n\n\n\nQuadrise Fuels International Plc\n\n\n\n\n\n\n\nMike Kirk, Executive Chairman\n\n\n+44 (0)20 7031 7321\n\n\n\n\nJason Miles, Chief Operating Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\nSmith & Williamson Corporate Finance Limited\n\n\n\n\n\n\n\nDr Azhic Basirov\n\n\n+44 (0)20 7131 4000\n\n\n\n\nBen Jeynes\nKaty Birkin\n\n\n\n\n\n\n\n\n\n\n...