Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Quadrise signs addendum with Valkor to revise MMU deliveries and license fees.
  • USD 1.0 million license fee re-phased, with USD 50,000 immediately and remaining by June 2026.
  • Interim 600 bpd MMU to be delivered by 30 June 2026.

Quadrise (LSE:QED) supplies MSAR® and bioMSAR™ emulsion technology, fuels, and biofuels. The company provides solutions for energy reduction, pollution control, and greenhouse gas mitigation in power generation, shipping, industrial, and oil sectors.

Valkor Agreement Update
Quadrise confirmed the signature of an addendum to the June 2023 Site License and Supply Agreement with Valkor Technologies LLC in Utah, USA. The addendum revises the payment schedule and deliveries under the agreement, including Multifuel Manufacturing Units (MMUs) and associated license fees.

License Fee Re-Phasing
Under the addendum, the USD 1.0 million license fee is re-phased. USD 50,000 is payable immediately, USD 0.3 million is due by 31 March 2026, and the remaining USD 0.65 million is due on 30 June 2026.

Multifuel Manufacturing Unit Deliveries
Quadrise will supply an interim MMU with a capacity of 600 barrels per day by 30 June 2026. Valkor will pay USD 0.2 million by 30 September 2026 for this interim unit. A further USD 0.3 million will be due upon supply of a full-size 6,000 bpd MMU.

Project Development and Support Services
Valkor will pay Quadrise a project development and support services fee of USD 75,000 quarterly from 1 July 2026 for a minimum of two years. The fee covers engineering and process design, commissioning services, site operations, and compliance support.

Management Commentary
Jason Miles, Chief Technology Officer of Quadrise, said: “We are pleased to have signed this addendum with Valkor, which reflects their continued commitment to deploying Quadrise technology in Utah as a route to market for their heavy sweet oil, whilst also re-organising licence and MMU delivery payments to be received by the Company.”