Quadrise Signs Commercial Framework Agreement with Moroccan client for MSAR Supply
–News Direct–
Quadrise CEO Jason Miles joined Steve Darling from Proactive to announce the signing of a significant Commercial Framework Agreement with OCP S.A., an international manufacturing and mining group based in Morocco. This agreement marks a major milestone for Quadrise as it opens new commercial avenues for the supply of their proprietary MSAR fuel technology to OCP.
Miles detailed that the agreement initiates commercial discussions with third parties to secure MSAR supply to OCP. Concurrently, Quadrise and OCP have agreed to collaborate on a paid-for commercial trial at OCP's Jorf Lasfar site. This trial is a crucial step in demonstrating the feasibility and benefits of using MSAR fuel in OCPs operations.
To meet OCP's demand, Quadrise will engage with potential suppliers, including refineries, terminal operators, and traders, who have the capacity to produce MSAR. Facilitating these discussions, OCP has signed a Letter of Intent, indicating their commitment to entering into a Commercial Supply Agreement with a supplier that will provide MSAR under a license from Quadrise.
Additionally, Quadrise will update the technical, economic, and feasibility study that was previously issued in June 2022. This update will focus on converting the Jorf Lasfar site for the consumption of MSAR. Quadrise will also supply and install the necessary equipment to emulsify locally available heavy fuel oil using MSAR technology. Following this setup, a 30-day MSAR combustion trial will be conducted on a kiln at the site. The execution of the Commercial Supply Agreement will be contingent upon the successful results of this trial.
Miles emphasized that this agreement with OCP not only validates the potential of MSAR technology but also represents a significant step forward in Quadrises strategic growth plan. The collaboration with OCP, one of the world's leading fertilizer producers, underscores the increasing recognition and adoption of MSAR as a cleaner and more efficient alternative to traditional heavy fuel oil.
Contact Details
Proactive UK Ltd
+44 20 7989 0813
View source version on newsdirect.com: https://newsdirect.com/news/quadrise-signs-commercial-framework-agreement-with-moroccan-client-for-msar-supply-744174200
Quadrise PLC
COMTEX_453054143/2655/2024-05-29T09:09:28
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