Quadrise extends Nouryon deal for another three years

15th Nov 2022 12:56

(Sharecast News) - Alternative fuels developer Quadrise announced an extension to the exclusive global collaboration and emulsifiers sales agreement with specialty chemicals company Nouryon on Tuesday.

The AIM-traded firm said the agreement covered the exclusive supply of goods, services and intellectual property for future projects involving its 'MSAR' and 'bioMSAR' technology.

It said the deal, under the same terms announced in October 2019, would now run for a further three years to October 2025.

"We are delighted to have extended our long-standing and successful collaboration with Nouryon for a further three years," said chief executive officer Jason Miles.

"This extension reinforces the commitment of both parties to commercialising Quadrise's proprietary fuels and biofuels, providing more sustainable and economical solutions for the energy and marine sectors."

At 1238 GMT, shares in Quadrise Fuels International were down 3.12% at 2.02p.

Reporting by Josh White for Sharecast.com.