QS Energy and VIPS Petroleum Sign Landmark MOU in Southeast Asia

QS Energy, Inc., a leader in oil transport technology, announced the signing of a Memorandum of Understanding (MOU) with VIPS Petroleum. This partnership involves one of Southeast Asia's major energy producers and its state-owned oil and gas corporation. The agreement paves the way for the commercialization of QS Energy's Applied Oil Technology (AOT) unit, marking a key step in the company's global expansion.

The MOU reinforces QS Energy's commitment to improving oil transport efficiency. The alliance with VIPS Petroleum aims at enhancing the region's energy infrastructure through a comprehensive wholesale pass-through agreement. This structure ensures the AOT unit's seamless integration, promoting flexibility in addressing complex energy needs.

The agreement also details a three-tier revenue model: upfront payments, lease agreements, and royalty revenues. This model aims to generate consistent revenue while securing long-term financial growth for QS Energy. The innovative lease component ensures the protection and deployment of AOT units, safeguarding QS Energy's intellectual property and operational integrity.

QS Energy plans to announce the identity of the major customer in the coming weeks. The company emphasizes its commitment to transparency and will continue to update shareholders on further developments. This partnership with VIPS Petroleum and the national energy entity aims to open new opportunities in the Southeast Asian market.