Quantafuel and Vitol today announce that, following the successful start-up of
Quantafuel’s Skive plant in Denmark, they will begin feasibility studies
relating to the building of up to two large scale production facilities in
Amsterdam and Antwerp for the chemical recycling of approximately 100,000 tonnes
per year of plastic waste per plant into low carbon synthetic oil products. The
feasibility studies will be completed in partnership with Vitol’s partly owned
subsidiary VTTI, a major provider of storage and handling services for energy
products at VTTI’s global terminal network.

- We are pleased to announce our collaboration with VTTI and Vitol. Both
Amsterdam and Antwerp are key locations for energy handling in Europe where VTTI
already operates state-of-the-art logistic facilities and have in-depth
knowledge of establishing new process capacity, says Kjetil Bøhn, CEO of
Quantafuel.  

The feasibility studies will commence in fourth quarter 2020, with a final
investment decision expected in first half 2021. Quantafuel, Vitol and VTTI will
jointly manage the feasibility studies and will work in partnership to prepare
for the final investment decisions.  

For further information, please contact: 
Kjetil Bøhn, CEO, Quantafuel ASA +47 91 57 38 18 
Kristian Flaten, CFO, Quantafuel ASA +47 95 09 23 22

About Quantafuel
Quantafuel is a technology-based energy company converting waste plastics back
into low-carbon synthetic oil products replacing virgin oil products. Quantafuel
is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants
and plans to establish several plants throughout Europe and beyond.

About Vitol
Vitol is a leader in the energy sector with a presence across the energy
spectrum; from oil through to power, renewables and carbon. It trades 8 million
barrels per day of crude oil and products and, at any time, has 250 ships
transporting its cargoes.
Vitol’s clients include national oil companies, multinationals, leading
industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol
serves clients from some 40 offices worldwide and is invested in energy assets
globally including: circa 16mm3 of storage globally, 480kbpd of refining
capacity, 7,000 service stations and a growing portfolio of transitional and
renewable energy assets. Revenues in 2019 were USD 225 billion.

About VTTI 
VTTI is one of the world's fastest growing storage providers for energy and
other essential products. VTTI currently offers over 10 million cubic meters of
combined storage capacity across 5 continents. VTTI’s terminals are
strategically located at major shipping crossroads of the globe as well as in
locations that are supply gateways to or from specific markets.