Quadrise Fuels International revealed the execution of a phased Commercial Development Agreement (CDA) with Valkor Technologies LLC to commercialise Quadrise’s MSAR® and bioMSAR™ technology at Valkor’s projects in Utah, USA.
Under Phase 1 of the CDA, to be completed by 30 June, 2022:
- Valkor will deliver a crude oil sample from a heavy oil asset in Utah in which they have an existing equity interest (the ‘Primary Project’) to Quadrise.
- Quadrise will perform analysis and testing on the sample to confirm that it is suitable to produce MSAR® and bioMSAR™.
- Quadrise and Valkor will together and in the same time frame:
- Negotiate supply agreements with identified target consumers of MSAR® and bioMSAR™ fuel to be produced by the Primary Project.
- Finalise the technical and operational requirements and commercial terms for license and supply of QFI technology.
Quadrise Fuels International plc (LON:QFI) is the global innovator and licensor of disruptive heavy oil technology that produces MSAR® fuel. The Quadrise team is a unique combination of energy sector experts and fuel specialists that were instrumental in the prior commercialisation of 60 million tons of Orimulsion® fuel worldwide.