QS Energy and VIPS Petroleum Forge Strategic Partnership to Enhance Oil Transport Efficiency

QS Energy Inc. and VIPS Petroleum LLC have announced a strategic collaboration to enhance oil transport efficiency using QS Energy’s Applied Oil Technology (AOT) device. The partnership follows positive MOU discussions with VIPS’ country and company clients. This collaboration leverages QS Energy's advancements in the commercialization of their AOT device, which aims to improve the economics and sustainability of oil transport.

The agreement outlines the deployment of the AOT device to VIPS Petroleum's customers, with contracts expected to be finalized by August/September 2024. The deployment is scheduled for Q4 2024 to Q1 2025. Customers from several countries have committed to purchases, with each unit projected to generate annual revenues in the single-digit millions, and a minimum of five units per customer order.

VIPS Petroleum has secured six-month exclusivity rights for deploying AOT devices in Malaysia, Singapore, Australia, Bahrain, Saudi Arabia, and Thailand. VIPS will also manage customer onboarding to ensure seamless integration and operational success.

Cecil Bond Kyte, CEO of QS Energy, highlighted that this collaboration is a significant milestone for commercializing AOT technology. John McLeod Jr., CEO of VIPS Petroleum, emphasized their commitment to offering innovative solutions to clients. This partnership underscores both companies’ dedication to innovation and efficiency in oil transportation.