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Quadrise teams up with Valkor to commercialise MSAR® and bioMSAR™ technology in CDA

‘The need for more economical and lower carbon industrial and marine fuels has never been more apparent,’ says Quadrise Fuels International CEO Jason Miles.

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Dimitry Anikin

Quadrise Fuels International plc on Monday (11 April) revealed the execution of a phased Commercial Development Agreement (CDA) with Valkor Technologies LLC to commercialise Quadrise’s MSAR® and bioMSAR™ technology at Valkor’s projects in Utah, USA.

 Under Phase 1 of the CDA, to be completed by 30 June, 2022:

  • Valkor will deliver a crude oil sample from a heavy oil asset in Utah in which they have an existing equity interest (the ‘Primary Project’) to Quadrise.
  • Quadrise will perform analysis and testing on the sample to confirm that it is suitable to produce MSAR® and bioMSAR™.
  • Quadrise and Valkor will together and in the same time frame:
  • Negotiate supply agreements with identified target consumers of MSAR® and bioMSAR™ fuel to be produced by the Primary Project.
  • Finalise the technical and operational requirements and commercial terms for license and supply of QFI technology.

Full commercial terms for an MSAR® and/or bioMSAR™ License and Supply Agreement at the Primary Project would then be concluded no later than October 2022.

Under Phase 2 of the CDA, following the conclusion of a License and Supply Agreement covering the Primary Project, Quadrise intends to grant Valkor exclusive terms over the deployment of QFI technology in the State of Utah. 

This is expected to take the form of further Licence and Supply Agreement(s) or Tolling Agreement(s) for projects on which QFI technology is proposed to be deployed.

Net profits generated under the License and Supply Agreement(s) or Tolling Agreement(s) are to be shared between Quadrise and Valkor, based on the respective contribution by each party to the deployment of QFI technology for each project.

Quadrise Fuels International CEO Jason Miles said the need for more economical and lower carbon industrial and marine fuels has never been more apparent. 

“Quadrise is delighted to have executed this agreement and looks forward to working expeditiously with the Valkor team to conclude commercial agreements for supply of MSAR® and bioMSAR™ for identified projects,” he said. 

Valkor CEO Steven Byle added they were delighted to work jointly with Quadrise to secure high value opportunities for its Utah heavy sweet oil projects, following the successful testing completed on oil sands samples from the pilot plant last year. 

“The supply and licensing of MSAR® technology in Utah is conditional on securing the first opportunity for fuel supply and offtake, and we look forward to working closely with Quadrise during the coming months on this commercial opportunity,” he said. 

Related: Quadrise highlights positive test results of bioMSAR™ fuel on Wärtsilä diesel engine
Related: Quadrise receives oil samples from Greenfield; start feasibility tests for MSAR production
Related: Quadrise fuels inks development agreement with MSC to trial MSAR bunker fuel
Related: Quadrise Fuels unveils sustainable alternative to heavy fuel oil with 20% lower emissions
Related: Quadrise Fuels International positioning MSAR® for commercialisation in 2020
Related: Quadrise enters marine fuel oil emulsification MOA with refiner

 

Photo credit: Dimitry Anikin on Unsplash
Published: 13 April, 2022

 

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Milestone

Singapore retains titles as Best Global Seaport and Best Seaport in Asia

Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 AFLAS Awards.

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Singapore retains titles as Best Global Seaport and Best Seaport in Asia

The Maritime and Port Authority of Singapore on Friday (29 September) said the Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) Awards.

These accolades recognise the contributions by the Port of Singapore serving as a key node in the global supply chain, and Singapore’s leadership in driving maritime decarbonisation and transformation.

The annual AFLAS Awards is organised by freight and logistics publication, Asia Cargo News, to honour leading service providers in the supply chain community for demonstrating leadership as well as consistency in service quality, innovation, customer relationship management and reliability. Winners were determined by votes cast by readers of the publication.

singapore best seaport 2

Mr Chee Hong Tat, Acting Minister for Transport and Senior Minister of State for Finance, said: “Singapore is honoured to be named the Best Global Seaport and Best Seaport in Asia. These awards are the result of the shared effort and strong collaboration between the Government, industry, unions and workers. We will continue to grow our port as an efficient, sustainable, and trusted node in global supply chains.”

Mr Teo Eng Dih, Chief Executive of MPA, said: “These awards are testament to the partnership and collaboration between Maritime and Port Authority of Singapore (MPA) with industry and international partners, the research and enterprise community, as well as unions. MPA remains committed to fostering an environment that encourages enterprise, innovation, and talent development.”

“We will continue to work with our partners to enhance Singapore’s connectivity, advance digitalisation efforts, and accelerate the decarbonisation of international shipping in line with the 2023 IMO strategy on reduction of GHG emissions from ships.”

Photo credit: Maritime and Port Authority of Singapore 
Published: 29 September, 2023

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Employment

Melvin Lum appointed as KPI OceanConnect Global Accounts Commercial Director in Singapore 

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect.

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Melvin Lum appointed as KPI OceanConnect Global Account Commercial Director in Singapore

Global marine energy solutions provider KPI OceanConnect on Thursday (28 September) announced the appointment of Melvin Lum as Commercial Director for its Global Accounts team in Singapore.

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect. 

The Global Accounts team is an expert unit within KPI OceanConnect, specialised in providing long-term, tailored fuel strategy solutions to a portfolio of Key Accounts on a global scale. Dedicated regional teams located in London, Houston and Singapore work seamlessly across the world and around the clock to support their clients.

Lum joined KPI OceanConnect in 2021 as Senior Key Account manager and has made a significant contribution to the development of the team and optimisation of the daily operations of the unit in Singapore. Lum has vast experience across the supply chain and previously worked with TotalEnergies, Glencore and Global Energy Group prior to joining KPI OceanConnect.

Henrik Zederkof, Head of Global Accounts at KPI OceanConnect, said: "It is always a pleasure to witness the growth of our team members, and Melvin's progression is no exception. I have full confidence in Melvin's expertise, ability to lead the unit and dedication to his team. I look forward to seeing the progress of Melvin and his team, which will undoubtedly bring significant value to our numerous partners and the wider organisation.”

"Melvin will assume a pivotal role within the Global Accounts management team, leveraging his extensive experience in supply chain management and profound insight into emerging technologies. In his new role, Melvin will further enhance our team's skill set, aligning them with our ongoing objectives of supporting our partners in their green transition and digitalisation endeavours."

Melvin Lum, Commercial Director of KPI OceanConnect Global Accounts in Singapore, said: "I am very appreciative of the support and confidence from our management team as I take on this exciting new role. I am enthusiastic to work with the team as we continue to deliver an exceptional experience to our partners and stakeholders with dedication, innovation and passion."

Photo credit: KPI OceanConnect 
Published: 29 September, 2023

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Biofuel

TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel  

Firm’s operations teams in Singapore and Geneva successfully renewed its ISCC EU sustainability certification for the supply of biofuel bunkers, says Louise Tricoire, Vice President.

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TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel

Louise Tricoire, Vice President of TotalEnergies Marine Fuels recently said the firm’s operations teams in Singapore and Geneva successfully renewed its International Sustainability and Carbon Certification (ISCC) EU sustainability certification for the supply of biofuel bunkers.

“This means that TotalEnergies Marine Fuels can continue sourcing and supplying marine biofuels in accordance with EU renewable energy regulations ensuring the highest sustainability standards,” she said in a social media. 

“It's the third year in a row that we have successfully renewed this certification, after a deep and comprehensive audit which showed zero non-conformity.”

She added marine biofuels have grown in demand among shipping companies that want to cut greenhouse gas emissions immediately. 

“TotalEnergies Marine Fuels offers marine biofuels commercially in Singapore and we are starting in Europe. This certification enables us to accompany our customers in their decarbonisation journey with the best standard solutions available today.”

Photo credit: TotalEnergies Marine Fuels
Published: 29 September, 2023

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