REG - Quadrise PLC - MAC2 Services Agreement

QuadriseAnnouncement

01/04/2025 07:00

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RNS Number : 0192D  Quadrise PLC  01 April 2025

1 April 2025

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

Signature of MAC(2) Services Supply Agreement

Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a
cleaner planet, is pleased to announce the signature of a Services Supply
Agreement ("Agreement") with MAC(2) Solutions NV ("MAC(2)") with regard to the
production of MSAR® and bioMSAR™ fuels for the Company's forthcoming marine
vessel trials on board the MSC Leandra V, expected to commence in Q2 2025 (the
"Trials").

The Trials will comprise an initial Proof of Concept period using
MSAR(®) and then bioMSAR™ for performance baseline tests, followed by
4,000 hours of operation (approximately 6-8 months) on bioMSAR™ in order to
obtain a letter of no objection from engine manufacturer Wärtsilä upon
success.

The Agreement sets out the responsibilities of Quadrise and MAC(2) in respect
of the Trials, which will be carried out following the installation and
commissioning of Quadrise equipment at the MAC(2) facility in Antwerp, Belgium
in Q2 2025. MAC(2) will be responsible for the supply of jetty space,
utilities, permits and ad-hoc support services during the Trials, whilst
Quadrise will be responsible for the provision of MSAR® and bioMSAR™
technology and fuel production equipment and personnel.

The remaining bilateral agreements to facilitate the Trials, including a toll
manufacturing agreement between Cargill BV ("Cargill") and Quadrise in respect
of fuel manufacture, continue to be advanced and further announcements will be
made in due course.

Alongside the Trials, the parties plan to initiate commercial MSAR® and
bioMSAR™ bunker supply operations to the marine sector through the MAC(2)
facilities in the Port of Antwerp-Bruges to MSC and other shipping companies
on a permanent basis.

Commenting on the update, Jason Miles, Chief Executive Officer of Quadrise,
said:

"We are pleased to have signed this services agreement with MAC(2) to progress
our plans for supplying MSAR® and bioMSAR™ to the marine sector from
Antwerp-Bruges. We look forward to working with them as we prepare for the
trials on the MSC Leandra V in Q2 2025 and to a successful longer-term
partnership as we progress to commercial supply."

 

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(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

 

 BLUE Communications Limited

 Rhys Thomas                    +44 (0) 7595 227750

 Sam Deacon                     +44 (0)7527 558846

 

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/)

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

 

 

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