Quadrise PLC (AIM:QED), the cleaner energy specialist, has partnered with Finland's Auramarine to develop and promote greener fuel technologies for the marine industry.
The collaboration aims to improve efficiency and reduce emissions in energy-intensive sectors, particularly shipping.
Under the agreement, Quadrise will contribute expertise in its proprietary cleaner fuels, MSAR and bioMSAR, which are designed to reduce emissions.
Auramarine will focus on adapting fuel systems and implementing Quadrise's onboard blending technology to enable marine vessels to transition to these fuels.
The partnership will combine the resources and networks of both companies to create new sales opportunities while helping the shipping industry comply with stricter environmental regulations.
Both companies will earn commissions on sales or financing generated through the agreement. The initiative supports efforts to decarbonise the marine sector and enhance its environmental sustainability.
"We are delighted to sign this collaboration agreement with Auramarine, who have extensive experience and an enviable track record in the design, supply and servicing of fuel systems for conventional and future fuels," said Quadrise CEO Jason Miles.
"This collaboration is in line with our strategy of working with new channel partners to decarbonise shipping, adding the necessary expertise, network and resources of Auramarine in marine fuel systems to accelerate the implementation of MSAR and bioMSAR fuel conversions globally."