QS Energy Takes First Step To Commercial AOT

Rhea-AI Summary

QS Energy (OTCQB:QSEP) announced the signing of a Letter of Intent (LOI) with VIPS Petroleum on June 11, 2024. This partnership aims to deploy QS Energy's Applied Oil Technology (AOT) device to enhance operational efficiency for VIPS Petroleum's customers. The agreement includes a timeline for the deployment, starting with a Memorandum of Understanding (MOU) and collaboration agreement in June 2024. A customer contract is expected by July/August 2024, and the AOT device deployment will occur between September and the end of the year. The device must meet performance goals during an initial 30-day evaluation period before full-scale deployment. The collaboration is expected to improve efficiency and sustainability in oil transportation, boosting QS Energy's market position and investor confidence.

Positive

• Signing of LOI with VIPS Petroleum indicates initial commitment to deploy AOT.
• Potential improvement in operational efficiency for VIPS Petroleum's customers.
• Deployment timeline is clearly outlined, showing a structured plan.
• Successful deployment could enhance QS Energy's market position and investor confidence.
• Potential benefits in sustainability and reduced operational costs for VIPS Petroleum clients.

Negative

• Deployment is dependent on the AOT device meeting performance goals.
• Initial 30-day evaluation period introduces uncertainty.
• VIPS Petroleum will receive compensation in ownership and commission, impacting QS Energy's revenue.

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.

View the original press release on accesswire.com

FAQ

What is QS Energy's recent partnership announcement?

QS Energy announced a partnership with VIPS Petroleum to deploy its Applied Oil Technology (AOT) device.

When did QS Energy sign the LOI with VIPS Petroleum?

QS Energy signed the LOI with VIPS Petroleum on June 11, 2024.

What is the purpose of the QS Energy and VIPS Petroleum partnership?

The partnership aims to improve operational efficiency and sustainability in oil transportation using QS Energy's AOT device.

What is the timeline for deploying QS Energy's AOT device?

The Memorandum of Understanding will be finalized in June 2024, with a customer contract expected by July/August 2024, and deployment starting between September and the end of the year.

What are the conditions for the full-scale deployment of the AOT device?

The AOT device must meet predefined performance goals during an initial 30-day evaluation period.