Quadrise (AIM:QED) announced it will not renew its exclusive emulsifiers supply agreement with Nouryon Surface Chemistry AB, after the deal lapsed on 31 October.
The AIM-listed developer of MSAR and bioMSAR emulsion fuel technologies, which targets heavy fuel oil replacement in shipping and industrial markets, said the two parties have agreed not to extend the Exclusive Global Collaboration and Emulsifiers Sales Agreement, nor to sign a new one, until Quadrise's project pipeline and volume requirements are confirmed.
Nouryon has told Quadrise it remains interested in a future agreement once those requirements are clear, and will keep supporting Quadrise's trials through individual orders in the meantime.
Quadrise said it has already carried out significant development work on future additive supplies, including emulsifiers, using bespoke formulation testing at its Research Facility to widen the supply base for a global range of fuels and biofuel feedstocks.
The company said this work is intended to add flexibility and reinforce the competitiveness of its MSAR and bioMSAR products.
The update follows Quadrise's announcement in January of the agreement's extension with Nouryon, the specialty chemicals group that had served as its emulsifiers partner under the exclusive arrangement.
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