REG - Quadrise PLC - Joint Development Agreement with BTG Bioliquids

QuadriseAnnouncement

08/06/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230608:nRSH0244Ca&default-theme=true

RNS Number : 0244C  Quadrise PLC  08 June 2023

8 June 2023

 

Quadrise Plc

("Quadrise" or the "Company")

 

Joint Development Agreement with BTG Bioliquids

Quadrise (AIM:QED), the supplier of innovative energy solutions for a cleaner
planet, is pleased to announce a Joint Development Agreement ("JDA") with
renewable biofuels specialists, BTG Bioliquids BV ("BTL").

 

BTL's proprietary pyrolysis technology turns abundant agricultural and
forestry residues, such as saw mill waste, into fast pyrolysis bio-oil (FPBO),
a homogeneous energy carrier, which can be used as a direct substitute for
fossil fuels or be further upgraded into advanced biofuels. There are
currently three FPBO producing plants using BTL's technology in the
Netherlands, Finland and Sweden.

 

Under the JDA, the Company and BTL will collaborate in seeking to use BTL's
FPBO as a potential cost-effective renewable source of fuel in Quadrise's
bioMSAR™ solution. The JDA makes provision for the Company to supply MSAR®
blending technology at BTL's licensed plants or biorefineries subject to
future agreements with BTL or their licensees.

 

Quadrise and BTL intend to jointly execute a research programme to generate
stable bioMSAR™ emulsions incorporating BTL's FPBO. Successful laboratory
formulations of FPBO-bioMSAR™ emulsions to be generated at the Quadrise
Research Facility are expected to progress to diesel engine tests during the
next 12 months. Subject to agreement of both parties, third-party testing for
marine use would then be expected to  follow. These tests are also expected
to accelerate the development of bioMSAR™ Zero.

Commenting on this agreement Jason Miles, CEO of Quadrise, said:

"Quadrise is delighted to have signed this JDA with BTG Bioliquids. Advanced
biofuels derived from woody biomass remain potentially the most price
competitive net-zero biofuel solutions. This joint collaboration fits well
with our plans to commercialise bioMSAR™ with MSC Shipmanagement and others,
as well as advancing our programme to supply net-zero bioMSAR™ by 2030. BTG
Bioliquids' fast pyrolysis bio-oils combined with Quadrise's bioMSAR™
technology should provide a compelling solution for the marine sector to
accelerate decarbonisation and emissions reduction efforts economically and
safely."

Gerhard Muggen, Managing Director of BTG Bioliquids, added:

"BTG Bioliquids is pleased to have signed this agreement with Quadrise to
continue our strategy of cooperating with other companies to develop
attractive applications for fast pyrolysis bio-oil. The successful inclusion
of fast pyrolysis bio-oils into bioMSAR™ would be a major step in
decarbonising the shipping and power industries.

For further information please contact:

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

 Jason Miles, Chief Executive Officer

 Nominated Adviser
 Cenkos Securities plc                                    +44 (0)20 7397 8900
 Ben Jeynes
 Katy Birkin
 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

 Charlie Neish

 

About Quadrise

Quadrise is the supplier of MSAR(®) and bioMSAR™ emulsion technology and
fuels, providing innovative lower cost and lower carbon alternatives to fuel
oil and biofuels in the global power generation, shipping, industrial and
refining industries.

 

Learn more: www.quadrisefuels.com (http://www.quadrisefuels.com/)

 

Certain of the information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under The Market Abuse
Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit)
Regulations 2018. Upon the publication of this announcement via a Regulatory
Information Service ("RIS"), this inside information is now considered to be
in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEAFKXEDPDEAA