QS Energy (QSEP) Signs LOI with Strategic Partner VIPS Petroleum to Deploy AOT
TOMBALL, TX / ACCESSWIRE / June 12, 2024 / QS Energy, Inc. (the "Company" or "QS Energy") (OTCQB:QSEP), a leading developer of advanced energy efficiency technologies, is pleased to announce the signing of a Letter of Intent (LOI) with VIPS Petroleum as of Tuesday, June 11th. This strategic partnership aims to facilitate the deployment of QS Energy's Applied Oil Technology (AOT) device to enhance the operational efficiency of VIPS Petroleum's customers.
QS Energy and VIPS Petroleum have agreed to collaborate on deploying the AOT device to one or more of VIPS Petroleum's esteemed clients, marking a significant step forward in improving the efficiency and sustainability of oil transportation. The agreement outlines a comprehensive timeline, starting with the signing of a Memorandum of Understanding (MOU) and a collaboration agreement in June 2024. The deployment will commence with a customer contract expected to be finalized in July/August 2024, followed by the actual deployment of the AOT device between September and the end of the year. VIPS Petroleum will receive compensation in the form of ownership and commission, as detailed in the forthcoming MOU and definitive agreement.
The onboarding process for the customer includes an initial 30-day consideration period to ensure the AOT device meets set performance goals. The device must achieve predefined operational goals to proceed. Upon successful demonstration, customers can select the most suitable AOT purchase plan. Full-scale deployment will follow the successful completion of this evaluation period and goal achievement.
"We are thrilled to announce this strategic partnership with VIPS Petroleum," said Cecil Bond Kyte, CEO of QS Energy. "This collaboration is a testament to the effectiveness of our AOT technology and its potential to revolutionize the energy industry. We are confident that this partnership will not only enhance the operational efficiency of VIPS Petroleum's customers but also significantly boost QS Energy's market position and investor confidence."
John McLeod, Jr., CEO of VIPS Petroleum, echoed this enthusiasm, stating, "We are excited to bring the AOT device to our clients. The potential improvements in efficiency and reductions in operational costs align perfectly with our commitment to providing innovative and sustainable solutions to the petroleum industry. It's impressive to see how effectively the company is utilizing its resources to achieve these advancements."
VIPS Petroleum's clients across 12+ countries have expressed strong anticipation for the deployment of QS Energy's AOT device. "We are eager to integrate this technology into our operations," stated John McLeod, Jr., CEO of VIPS Petroleum. "We believe the AOT device will significantly enhance our operational efficiency and contribute to our sustainability goals."
The signed LOI marks the beginning of a series of strategic steps, including the finalization of the MOU in June 2024 and the deployment of the AOT device later this year. This partnership is poised to deliver substantial benefits to both companies and their stakeholders.
About VIPS Petroleum
VIPS Petroleum is a leader in the petroleum industry, providing innovative solutions and superior service to its clients. VIPS Petroleum is committed to leveraging cutting-edge technologies to enhance the performance and sustainability of its operations. For further information about VIPS Petroleum, visit www.vipspetroleum.co.
Cecil Bond Kyte
CEO, QS Energy
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: investor@qsenergy.com
Sales: sales@qsenergy.com
SOURCE: QS Energy, Inc.
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