Quadrise International signs Memorandum of Agreement with JGC Corporation
Quadrise Fuels International plc (AIM: QFI) announced that the Company’s wholly owned subsidiary, Quadrise International Limited (“QIL”), has signed a Memorandum of Agreement (“MOA”) with JGC Corporation (“JGC”).
JGC 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.
JGC 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.
This 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.
For those joint projects that progress to commercial MSAR® implementation and production, QFI will pay JGC a royalty based on sales.
Source / More: Quadrise
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