Nouryon was formerly known by AkzoNobel Specialty Chemicals but was rebranded when it was taken over by The Carlyle Group and GIC.
The collaboration agreement with Nouryon is to supply goods and services for future MSAR synthetic fuel projects and will run for three years.
The agreement with Nouryon supplants two separate contracts with AkzoNobel.
Intellectual property (IP) arising from any future joint development activity, or relating to past work such as MSAR Marine fuels development, is jointly owned between the parties. The agreement is exclusive in the field of oil-in-water emulsion fuels research and development.
“The new contract with our core technology partner, Nouryon, reinforces the commitment of both parties to commercialising the global MSAR business,” said Mike Kirk, the executive chairman of QFI.
“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. This new contract enables Quadrise to both progress and protect the IP inherent to MSAR and to provide the exclusive supply to Quadrise of the chemicals for the production of MSAR," he added.