With a strong demand for high-quality recycled plastic material, Quantafuel is
pleased to report that we have completed the new sorting line and are on track
with the expansion of our recycling plant in Kristiansund. We have successfully
been feeding plastic in the new sorting line since mid-November. 

Quantafuel's recycling plant in Kristiansund has now completed its new 20,000
tonnes per year sorting line. Up to 40 tonnes of plastic is already being
processed here on a daily basis.   

"We are very pleased with our progress in Kristiansund. The timing could not be
better as the demand is strong and we see record-high prices for high-quality
recycled plastic material," says Quantafuel's CEO Lars Rosenløv. 

Although we still have limited production volumes, a number of shipments have
been made at market prices significantly higher than budgeted.

"Our operation in Kristiansund is a great example of Quantafuel's growth plans.
By combining chemical recycling with mechanical sorting and recycling, we get
the very best plant economics and the highest recycling rates, which in turn
contributes towards solving the global plastic waste issue," Rosenløv continues.

In December, the set-up will be enhanced with additional extruder capacity,
fully operational from early Q1 2022, turning hard plastic PE and PP flakes into
pellets used for making new plastic products.

To fully utilize this sorting capacity, a further expansion of the mechanical
recycling to 20,000 tonnes per year has also been initiated. This investment is
scheduled to start production late Q2 2022. Even with this expansion in
operation, the plant still has capacity to increase production with 10,000
tonnes of chemical recycling feedstock per year for the future plastic-to-liquid
plant.

For further queries, please contact: 
Lars Rosenløv, CEO +47 93018040 
Kristian Flaten, CFO +47 95092322 

About Quantafuel | https://quantafuel.com 
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.