Quantum and its subsidiary FTPM Resources enter MoU with a developer of small-scale biorefineries

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Type of post: NEWS IN BRIEF.

Quantum Energy Inc. (Quantum) and its subsidiary FTPM Resources have entered into Non-Binding Memorandum of Understanding (MoU) with a target company (its name has not been disclosed) that designs, manufacturers, operates and sells its patented small-scale, modular biorefineries (1, 2 and 5 million gallon per year) for the production of alternative liquid biofuels from organic waste streams.
Press release: “Quantum (QEGY) Enters into MOU with Target Company”, 10/5/2019.

Figure 1. Quantum logo

According to the press release, the biofuels generated by these small-scale modular systems can be mixed with, or can selectively replace, gasoline derived from fossil sources. They can also be used to power distributed electric generators. The biorefineries are centrally manufactured and can be shipped anywhere in the world, which enables the target company to bring new energy sources to locations that would otherwise not have access to it.

Pursuant to the MoU, FTPM would enter into a joint venture with the target company for the purpose of developing and marketing of a variety of products which allows to create greater value from corn than simply converting it into ethanol. If the transaction is consummated, it is expected that the target company be able to expand its operations throughout North America and Quantum bring forth innovative technologies that will produce high-quality and efficient biofuels, valuable biochemicals, adhesives, fertilizers, animal feed... No assurances can be given that Quantum will obtain sufficient capital to consummate the transactions contemplated by the MoU.

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