on QS Energy, Inc. (NASDAQ:QSEP)
QS Energy Partners with VIPS Petroleum for AOT Deployment
QS Energy, Inc. (OTCQB:QSEP) has announced a new partnership with VIPS Petroleum to deploy its Applied Oil Technology (AOT) device. The Letter of Intent, signed on June 11, 2024, aims to enhance the operational efficiency of VIPS Petroleum's customers through advanced energy efficiency technologies.
The agreement between QS Energy and VIPS Petroleum includes a deployment roadmap, starting with a Memorandum of Understanding in June 2024, followed by customer contract finalizations by August 2024. Deployment of the AOT device is set to begin between September and the end of the year.
The AOT device will undergo a 30-day evaluation period to meet performance goals before full-scale deployment. VIPS Petroleum will be compensated through ownership and commission as part of the forthcoming agreements.
Cecil Bond Kyte, CEO of QS Energy, expressed optimism about the partnership, noting that it would boost both companies' market positions. John McLeod, Jr., CEO of VIPS Petroleum, emphasized the alignment with their sustainability and efficiency goals.
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