Business
Valkor update
Quadrise PLC announced an addendum to its Site License and Supply Agreement with Valkor Technologies LLC. The payment of US$1.0 million due to Quadrise has been re-phased to 30 June 2026. Valkor will pay a non-refundable US$50,000 immediately, US$0.3 million by 31 March 2026, and the remaining US$0.65 million by 30 June 2026. Quadrise will supply a smaller Multifuel Manufacturing Unit of 600 bpd capacity by 30 June 2026, for which Valkor will pay US$0.2 million by 30 September 2026, with a further US$0.3 million due upon supply of a full-size 6,000 bpd MMU. Additionally, Valkor will pay a US$75,000 quarterly project development and support services fee from 1 July 2026, for a minimum of two years. Disclaimer*
About this update from Quadrise Plc
[{"type":"text","content":"\n\nCertain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n \n26 September 2025\n \nQuadrise plc\n(\"Quadrise\", \"QED\" or the \"Company\")\n \nValkor update\n \nQuadrise plc (AIM: QED), the technology company focused on the decarbonisation of shipping and heavy industry through deployment of low emission fuels and biofuels, confirms the signature of an addendum (the \"Addendum\") to the June 2023 Site License and Supply Agreement (\"SLS Agreement\") with Valkor Technologies LLC (\"Valkor\") in Utah, USA.\n \nPursuant to the Addendum, the payment of US$1.0 million due to the Company under the SLS Agreement (as amended) has been re-phased over the period to 30 June 2026, with the deliveries of Multifuel Manufacturing Units (\"MMUs\") and associated payments to the Company amended to match updated expectations of oil production ramp-up at the Valkor project site.\n \nOn 14 January 2025, an addendum to the SLS Agreement was executed by the Parties under which Valkor agreed to pay Quadrise an aggregate of US$1.5 million in exchange for the provision by Quadrise of an MSAR license and the delivery of a smaller Multifuel Manufacturing Unit (\"MMU\") in 2025 prior to the delivery of a full size MMU thereafter.\nDue to slower than expected ramp-up in oil production and resulting financial constraints during the period, Quadrise and Valkor have now agreed a further addendum to the SLS Agreement as follows:\n· A re-phased payment of the initial US$1.0m license fee, with a non-refundable amount of US$50k payable immediately, US$0.3 million payable by Valkor on or before 31 March 2026 and the remaining US$0.65 million due on 30 June 2026.\n \n· The supply by Quadrise of a smaller Multifuel Manufacturing Unit (\"MMU\") of 600 bpd capacity on an interim basis by 30 June 2026, for which Valkor will pay US$0.2 million by 30 September 2026. A further US$0.3 million will be due ...