Quadrise Fuels International PLC MOU with Freepoint Commodities LLC (9527U)
July 18 2018 - 1:00AM
UK Regulatory
TIDMQFI
RNS Number : 9527U
Quadrise Fuels International PLC
18 July 2018
18 July 2018
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Memorandum of Understanding with Freepoint Commodities LLC
The Company is pleased to announce it has signed a Memorandum of
Understanding ("MOU") with Freepoint Commodities LLC
("Freepoint").
Freepoint, 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.
Pursuant to the MOU, Quadrise and Freepoint intend to work
together to pursue commercial arrangements involving the production
and supply of MSAR(R) fuel to producers and consumers by utilising
Quadrise MSAR(R) technology, additives and services coupled with
Freepoint's marketing, trading, logistics and financial services
capabilities.
Under the MOU, during the next 24 months the parties plan to
jointly investigate and pursue selected MSAR(R) 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(R) production and
supply arrangements with fuel producers and consumers.
Commenting on this development, Mike Kirk, Executive Chairman of
QFI, said:
"We are delighted to sign this MOU with Freepoint and are
confident that with the combination of Quadrise's MSAR(R)
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(R) projects globally."
For further information on QFI, please refer to the Company's
website at www.quadrisefuels.com, or contact ir@quadrisefuels.com
or phone:
Quadrise Fuels International Plc
Mike Kirk, Executive Chairman +44 (0)20 7031 7321
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance Limited
Dr Azhic Basirov +44 (0)20 7131 4000
Ben Jeynes
Katy Birkin
Broker
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
Ross Allister
Public & Investor Relations
FTI Consulting
Ben Brewerton +44 (0)20 3727 1000
Sara Powell
For further information about Freepoint, please refer to
Freepoint's website at www.freepoint.com.
Notes to Editors
QFI is the supplier of MSAR(R) emulsion technology and fuels, a
low-cost alternative to heavy fuel oil (one of the world's largest
fuel markets, comprising over 450 million tons per annum) in the
global power generation, shipping, steam and refining
industries.
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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