(NewsDirect)
Quadrise CEO Jason Miles joined SteveDarling from Proactive to announce the signing of a significantCommercial Framework Agreement with OCP S.A., an internationalmanufacturing and mining group based in Morocco. This agreement marksa major milestone for Quadrise as it opens new commercial avenues forthe supply of their proprietary MSAR® fuel technology to OCP.
Miles detailed that the agreementinitiates commercial discussions with third parties to secure MSAR®supply to OCP. Concurrently, Quadrise and OCP have agreed tocollaborate on a paid-for commercial trial at OCP's Jorf Lasfarsite. This trial is a crucial step in demonstrating the feasibilityand benefits of using MSAR® fuel in OCP’s operations.
To meet OCP's demand, Quadrise willengage with potential suppliers, including refineries, terminaloperators, 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 SupplyAgreement with a supplier that will provide MSAR® under a licensefrom Quadrise.
Additionally,Quadrise will update the technical, economic, and feasibility studythat was previously issued in June 2022. This update will focus onconverting the Jorf Lasfar site for the consumption of MSAR®.Quadrise will also supply and install the necessary equipment toemulsify locally available heavy fuel oil using MSAR® technology.Following this setup, a 30-day MSAR® combustion trial will beconducted on a kiln at the site. The execution of the CommercialSupply Agreement will be contingent upon the successful results ofthis trial.
Miles emphasized thatthis agreement with OCP not only validates the potential of MSAR®technology but also represents a significant step forward inQuadrise’s strategic growth plan. The collaboration with OCP, one ofthe world's leading fertilizer producers, underscores theincreasing recognition and adoption of MSAR® as a cleaner and moreefficient alternative to traditional heavy fuel oil.
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