Quadrise Fuels signs MoU with fuel merchant Freepoint

The AIM-traded firm said Freepoint, based in Stamford, Connecticut, is both an established global merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.

Freepoint also provided physical supply services and related structured solutions for counterparties located throughout the world.

Under the MoU, Quadrise and Freepoint intended 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.

Quadrise added that during the next 24 months, both parties planned 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.

“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,” said Quadrise executive chairman Mike Kirk.