1 April 2025
Quadrise Plc
("Quadrise", "QED" or the "Company")
Signature of MAC2 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 MAC2 Solutions NV ("MAC2") 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 MAC2 in respect of the Trials, which will be carried out following the installation and commissioning of Quadrise equipment at the MAC2 facility in Antwerp, Belgium in Q2 2025. MAC2 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 MAC2 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 MAC2 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 | | |
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| 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) | | |
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| VSA Capital Limited Andrew Raca (Corporate Finance) Andrew Monk (Corporate Broking) | | +44 (0)20 3005 5000 |
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| Public & Investor Relations |
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| BLUE Communications Limited Rhys Thomas Sam Deacon
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+44 (0) 7595 227750 +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
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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