Quadrise PLC (AIM: QED), the AIM-listed manufacturer of lower-cost, lower-emission replacement fuels and biofuels for shipping and heavy industry, has announced that its Exclusive Global Collaboration and Emulsifiers Sales Agreement with Nouryon Surface Chemistry AB expired on 31 October 2026 without renewal. The two parties have agreed not to extend or replace the agreement until Quadrise's project pipeline and volume requirements are confirmed. Nouryon has nonetheless signalled continued interest in a future arrangement and will support Quadrise's ongoing trials through individual orders in the interim.

Key Points

  • Quadrise PLC (AIM: QED) is the AIM-listed supplier of MSAR® and bioMSAR™ emulsion fuel technology for shipping, power generation, and industrial sectors.
  • The Exclusive Global Collaboration and Emulsifiers Sales Agreement with Nouryon Surface Chemistry AB expired on 31 October 2026 and has not been renewed.
  • No new agreement will be entered into until Quadrise project volumes are confirmed; Nouryon has confirmed it remains interested in a future deal.
  • Investors should watch for confirmation of project volumes and the nature of any subsequent commercial arrangement with Nouryon or alternative emulsifier suppliers.

Nouryon Agreement Expires on 31 October 2026 as Volume Requirements Remain Unconfirmed

The Exclusive Global Collaboration and Emulsifiers Sales Agreement, originally extended as announced on 12 January 2026, reached its expiry date of 31 October 2026 without a further extension. Quadrise confirmed that the decision not to renew reflects the current stage of the company's commercial development, with both parties choosing to await clarity on project volumes before formalising a new arrangement. The company's announcement states that Nouryon Surface Chemistry AB has confirmed its ongoing interest in resuming a formal agreement once those requirements become known, providing some continuity of commercial intent between the two parties.

Nouryon to Continue Supporting Quadrise Trials Through Individual Orders

Despite the lapse of the exclusive agreement, Nouryon Surface Chemistry AB has confirmed it will continue to support Quadrise's fuel trials on the basis of individual orders. This arrangement allows Quadrise to maintain access to emulsifier supplies for its ongoing technical and commercial trial activity without being bound to a formal exclusive structure. For investors monitoring Quadrise's commercialisation progress in the global shipping and industrial fuel markets, the continuation of trial support from Nouryon represents a practical bridge while the company works to confirm its project pipeline and volume requirements.

Quadrise Broadening Additive Supply Base at Its Research Facility for MSAR® and bioMSAR™

In parallel with the agreement discussions, Quadrise has undertaken what it describes as significant development work on future additive supplies, including emulsifiers, at the Quadrise Research Facility. The company states this includes formulation testing using bespoke procedures designed to broaden the additive supply base across a global range of fuels and biofuel feedstocks. This work is intended to reinforce the competitiveness and flexibility of the company's proprietary MSAR® and bioMSAR™ products, which target cost reduction and greenhouse gas emission cuts for clients across shipping, power generation, and refining industries.

Commercial Timing Remains Contingent on Project Pipeline Confirmation

The central uncertainty facing investors following this announcement is the timeline for Quadrise confirming the project volumes that would trigger a new formal agreement with Nouryon or an alternative supplier. The company did not disclose this figure in the announcement, nor did it provide a timeline for when volume confirmation is expected. Quadrise's broader commercial model depends on scaling MSAR® and bioMSAR™ adoption across global shipping and heavy industry clients, and the pace of that adoption will be a key determinant of when a renewed supply agreement can be formalised.