MOU Actively Being Reviewed by Several Countries & Companies
TOMBALL, TX / ACCESSWIRE / August 15, 2024 / QS Energy Inc. (OTCQB:QSEP), a leader in energy efficiency technology, and VIPS Petroleum LLC, a prominent player in the petroleum industry, are excited to announce a strategic collaboration as a result of positive MOU discussions with VIPS country and company clients. This partnership builds on the recent advancements announced by QS Energy in the commercialization of their Applied Oil Technology (AOT) device, which significantly improves the economics and sustainability of oil transport.
Key Highlights of the Collaboration Agreement:
Deployment of AOT Device:
The agreement outlines the deployment of QS Energy's AOT device to VIPS Petroleum's customers. This initiative will commence with customer contracts expected to be finalized in August/September 2024, followed by the expected deployment of the AOT device in Q42024-Q12025.
Revenue-Generating Contracts:
The partnership between QS Energy and VIPS Petroleum will deploy AOT units to enhance oil transport efficiency, with customers from several countries committing to minimum purchases based on the project schedule outlined in the MOU. VIPS Petroleum will facilitate the deployment of AOT devices under material revenue-generating contracts, with each unit expected to generate annual revenues of single digit millions per device with a (5) unit minimum per customer order.
Exclusive Regions:
As a result of initial customer discussions and expanded discussions with certain countries actively reviewing the MOU, VIPS Petroleum has been granted 6-Month exclusivity rights for the deployment of AOT devices in Malaysia, Singapore, Australia, Bahrain, Saudi Arabia, and Thailand, reinforcing its strategic market positioning.
Customer Onboarding:
The collaboration agreement includes provisions for customer onboarding. VIPS will manage the customer relationships, ensuring seamless integration and ongoing operational success.
Cecil Bond Kyte, Chief Executive Officer at QS Energy, stated, "This collaboration with VIPS Petroleum marks a significant milestone in our efforts to commercialize AOT technology. By leveraging VIPS' extensive market reach and customer base, we are poised to enhance the efficiency and sustainability of oil transportation on a global scale."
John McLeod Jr., CEO of VIPS Petroleum, stated, "Our partnership with QS Energy reflects our dedication to offering innovative and efficient solutions to our clients. They are enthusiastic about deploying the AOT platform and are actively working on MOUs."
This announcement follows the recent press release detailing QS Energy's initial steps towards the commercial deployment of AOT, underscoring the company's commitment to shareholder value, innovation, and industry leadership.
Looking Forward
The partnership between QS Energy and VIPS Petroleum is set to drive significant advancements in oil transportation efficiency. With a shared vision for innovation and excellence, both companies are well-positioned to lead the industry towards a more sustainable and efficient future.
About VIPS Petroleum
VIPS Petroleum is an industry leader providing innovative petroleum solutions and exceptional service. Committed to leveraging advanced technologies, VIPS Petroleum aims to enhance the performance and sustainability of its operations. For more information, visit www.vipspetroleum.co.
For further information about QS Energy, Inc., visit https://www.qsenergy.com/, read our SEC filings at https://ir.stockpr.com/qsenergy/all-sec-filings and subscribe to Email Alerts at https://ir.stockpr.com/qsenergy/email-alerts to receive Company news and shareholder updates.
Safe Harbor Statement
Some of the statements in this release may constitute forward-looking statements under federal securities laws. Please visit the following link for our complete cautionary forward-looking statement: https://www.qsenergy.com/site-info/disclaimer
About Applied Oil Technology QS Energy's patented Applied Oil Technology (AOT) is a solid-state turn-key system which uses a high volt / low amp electric field to reduce crude oil viscosity. AOT installs inline on crude oil pipelines, operates unattended without interrupting pipeline flow, with full remote monitoring and control. More information is available online at www.qsenergy.com.
About QS Energy
QS Energy, Inc. (OTCQB: QSEP), develops and markets crude oil flow assurance technologies designed to deliver measurable performance improvements to pipeline operations in the midstream and upstream crude oil markets. More information is available at www.qsenergy.com.
Company Contact:
QS Energy, Inc.
Tel: +1 844-645-7737
E-mail: [email protected]
Sales: [email protected]
SOURCE: QS Energy, Inc.
View the original press release on accesswire.com
