By Anthony O. Goriainoff

Quadrise Fuels International PLC (QFI.LN) on Tuesday said its subsidiary Quadrise International Ltd. has agreed a three-year contract with Nouryon Surface Chemistry AB.

The oil-technology company said the contract will run until October 2022 and it is for the exclusive global collaboration and supply of goods and services for future MSAR--oil-in-water emulsion systems--projects.

The contract replaces two separate contracts with Akzo Nobel NV (AKZOY), which had been previously extended to November 2019.

"Our long-term relationship with Nouryon continues to underpin our ability to move the company towards long-term commercial revenues, as we progress our business-development activities towards large-scale trials followed by commercial roll-out," Executive Chairman Mike Kirk said.

The company didn't give any contract figures.

Shares at 0750 GMT were down 0.03 pence, or 0.6%, at 4 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

October 08, 2019 04:15 ET (08:15 GMT)

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