Image credit: Quadrise Fuels International

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Quadrise Fuels International, the developer of MSAR emulsion technology and fuel, has announced that it has signed a memorandum of understanding (MoU) with Freepoint Commodities LLC.

Under the MoU, Quadrise and Freepoint plan to work together to pursue commercial arrangements involving the production and supply of MSAR fuel to producers and consumers by utilising Quadrise MSAR technology, additives and services coupled with Freepoint's marketing, trading, logistics and financial services capabilities.

Over the next 24 months, both firms intend to jointly investigate and pursue selected MSAR project opportunities in the Americas, with a number of identified counterparties, and in Asia, on an exclusive basis, with the goal of entering into commercial agreements for MSAR production and supply arrangements with fuel producers and consumers.

Commenting on the news, Mike Kirk, Executive Chairman of QFI, said: "We are delighted to sign this MoU with Freepoint and are confident that with the combination of Quadrise's MSAR technology and fuel experience, and Freepoint's world-leading oil products trading and financing capabilities, we will be able to progress and accelerate selected MSAR projects globally."