Business
Royalty Agreement
Royalty Agreement.
About this update from Quadrise Plc
[{"type":"text","content":"\n RNS Number : 0843B Quadrise Fuels International PLC 11 February 2011 \n \n\nQuadrise Fuels International plc (\"QFI\" or \"the Company\")\n \nRoyalty Agreement between Quadrise International Limited and A.P. Moller-Maersk for Marine MSAR® Bunker Fuel Oil.\n \n11 February 2011\n \nQuadrise Fuels International plc is pleased to announce that Quadrise International Limited (\"QIL\"), the developer of oil-in-water emulsion fuel as a low cost substitute for heavy fuel oil and A.P. Moller - Maersk (\"Maersk\") have signed a Royalty Agreement.\n \nQIL is a wholly owned subsidiary of QFI and holds all of the Company's managed interests.\n \nThe Royalty Agreement is valid for the period up to 31st December 2019 and provides the legal framework for future commercial sales of Marine MSAR® fuel to Maersk and third parties.\n \nCommercial sales of Marine MSAR® are contingent on the successful conclusion of the joint development programme with Maersk announced by the Company in March 2010. This programme includes marine engine tests on land and sea, third party verification and approvals, and conclusion of agreements with candidate oil refineries during 2011.\n \nCommenting on the development Ian Williams, Executive Chairman of QFI said:\n \n\"This Royalty Agreement will be material to the Company in commercialising Marine MSAR® fuel. QIL's specialist team are fully engaged on this exciting project which aims to supply Marine MSAR® as an approved lower cost replacement for bunker fuel oil.\"\n \n\"Bunker fuel oil is a 150 million ton annual global market, nearly one third of the global heavy fuel oil market. Bunker fuel is a major operating cost for shipping companies. Marine MSAR® has the potential to reduce the impact of rising oil prices on the global freight market and is a key component of the future Quadrise business mix. This long-term agreement is another endorsement of the Quadrise management team, our alliance partner AkzoNobel, and MSAR® technology.\"\n \nEnquiries:\n \nQuadrise Fuels International plc\nTel: +44 (0) 7550 4931\nIan Williams, Executive Chairman\n \nFairfax I.S. PLC\nTel: +44 (0) 20 7598 5368\nKaty Birkin\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRZMGMZLMLGMZG \n "...