FREEPOINT COMMODITIES LLC
Quadrise has a Co-Marketing and Project Development Agreement (“CMPDA”) with Freepoint Commodities LLC (“Freepoint”).
Freepoint, which is based in Stamford, Connecticut, is both an established global merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets. Freepoint also provides physical supply services and related structured solutions for counterparties located throughout the world. Freepoint was launched in 2011, with private equity backing from Stone Point Capital.
Under the CMPDA Quadrise and Freepoint are working together to progress MSAR® projects to long-term commercial agreements for the production and supply of MSAR® fuel to defined territories and counterparties in the Americas, the Middle East and Asia on an exclusive basis.
The preferred business model for both parties under the CMPDA is to ‘Build Own and Operate’ (“BOO”) production facilities jointly, to purchase residual streams under long-term contracts from a refiner and enter into back to back contracts with other counterparties for the supply of MSAR® fuels. Financial returns under the CMPDA are based on the respective party’s contributions to bringing the project to fruition.
In addition, there may be circumstances where a decision is taken by both parties to pursue an MSAR® project on a tolling or licensing basis and the CMPDA defines the relevant participation of the parties in those circumstances.
“Freepoint has been impressed with the team at Quadrise and I am pleased that we have been able to conclude the CMPDA. We see extensive potential in deploying Quadrise’s MSAR® technology to add value for the benefit of our customers, and we look forward to working with Quadrise to advance projects where MSAR® has clear economic and environmental advantages over existing fuel sources.”
David Messer, Chief Executive Officer of Freepoint