REG - Quadrise PLC - Extended agreement with BTG Bioliquids for bioMSAR

QuadriseAnnouncement

26/06/2024 07:00

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RNS Number : 8607T  Quadrise PLC  26 June 2024

26 June 2024

Quadrise Plc
("Quadrise" or the "Company")

Extended agreement with BTG Bioliquids to advance the supply of Sustainable
Marine Fuels

Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a
cleaner planet, is pleased to announce the signature of a Cooperation
Framework Agreement ("CFA") with BTG Bioliquids BV ("BTL"). The CFA serves to
extend the scope of Quadrise's existing agreement with BTL.

Following the signature of a Joint Development Agreement ("JDA") with BTL in
June 2023, Quadrise has worked with BTL to incorporate BTL's sustainable Fast
Pyrolysis Bio-Oil ("FPBO") products into bioMSAR™. Stable emulsions
incorporating up to 20% BTL FPBO sugars have been produced at the Quadrise
Research Facility, with Cummins diesel engine testing on these emulsions at
Aquafuel now planned for Q3 2024.

As a result of this progress, the parties have now agreed a Cooperation
Framework Agreement ("CFA"). The CFA expands the scope of the JDA to
incorporate the parties' intention to undertake additional diesel engine
testing with BTL FPBO emulsions on engines larger than the currently planned
Q3 2024 Cummins test leading, ultimately on success, to a marine vessel for
final testing ahead of potential commercial-scale bioMSAR™ supply.

Assuming the planned Cummins engine tests in Q3 2024 are positive, under the
CFA the parties intend to complete independent testing on a larger diesel
engine during the period Q4 2024 to Q1 2025, as well as associated third party
testing for marine fuel characterisation and compliance.

Quadrise and BTL will then prepare for larger scale production of bioMSAR™
incorporating FPBO sugars for marine vessel tests in 2026. In order to ensure
the supply of FPBO sugars for future commercial-scale bioMSAR™ marine tests,
BTL are planning the construction of a pilot plant in Dordrecht, Netherlands.

Commenting on the update, Jason Miles, CEO of Quadrise, said:

"This new agreement is a result of the substantial progress Quadrise and BTL
have made with their respective technologies, and provides a clear plan to
incorporate BTL's sustainable pyrolysis sugars into bioMSAR™. This agreement
also expands our future options for bioMSAR™ Zero testing and production."

Commenting on the update, Gerhard Muggen, Managing Director of BTG
Bioliquids, said:

"We are pleased to have reached this new agreement with Quadrise. This is an
exciting next step, moving us towards large engine testing and production of
bioMSAR™ using renewable pyrolytic sugars produced from BTL's licensed
process and fractionation technology."

 

For additional information, please contact:

 

 Quadrise Plc                                              +44 (0)20 7031 7321
 Andy Morrison, Chairman

 Jason Miles, Chief Executive Officer

 Nominated Adviser
 Cavendish Capital Markets Limited                         +44 (0)20 7220 0500
 Ben Jeynes

 Katy Birkin

 George Lawson

 Joint Brokers

 Shore Capital Stockbrokers Limited                        +44 (0)20 7408 4090

 Toby Gibbs, Rachel Goldstein (Corporate Advisory)

 Fiona Conroy (Corporate Broking)
 VSA Capital Limited                                       +44 (0)20 3005 5000

 Andrew Raca (Corporate Finance)

 Andrew Monk (Corporate Broking)

 Public & Investor Relations
 Vigo Consulting                                           +44 (0)20 7390 0230

 Patrick D'Ancona

 Finlay Thomson

Peter Jacob

 

 

About Quadrise

Quadrise is the supplier of MSAR® and bioMSAR™ emulsion technology, fuels
and biofuels, providing innovative solutions to reduce energy costs and
greenhouse gas emissions today for clients in the global power generation,
shipping, industrial and refining industries.

Learn more at: www.quadrise.com (http://www.quadrise.com/)

 

About BTG Bioliquids

BTG Bioliquids is a market leading supplier and developer of fast pyrolysis
bio-oil plants using proprietary technologies, converting lignocellulosic
biomass residues into biofuels and biochemicals. Learn more
at: www.btg-bioliquids.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.btg-bioliquids.com%2F&data=05%7C02%7Cj.miles%40quadrise.com%7Ccdb3470a569f4c4817e208dc94606905%7Cdd432aaef7374377a7b71ac7e0494d8c%7C0%7C0%7C638548389014100222%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=kmI0urPCL5ahkN06UeXeCti13SXHmx%2B7SL2te89zEsE%3D&reserved=0)

 

 

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