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Kurs & Likviditet

Kursutveckling och likviditet under dagen för detta pressmeddelande

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Beskrivning

LandNorge
ListaEuronext Growth Oslo
SektorEnergi & Miljö
IndustriMiljö & Återvinning
Quantafuel är ett norskt bolag verksamma inom avfallshantering. Bolaget utvecklar egen teknik som vidare används för att konvertera diverse avfall, material och övriga produkter. Detta används i sin tur för att tillverka syntetiska bränslen. Störst verksamhet återfinns inom den nordiska- samt nordamerikanska marknaden, där bolagets kunder återfinns bland statliga- samt industriella aktörer. Quantafuel har sitt huvudkontor i Norge.
2021-05-14 08:00:00
Quantafuel has operated a production line in Skive, Denmark, at full capacity
with the right balance between gas and oil production and increased operational
stability. With these major achievements we target proof-of-concept in Q2 2021
and full production end of Q3 2021, as announced earlier. We are also pleased to
confirm that we have started feeding plastics into the new technology test plant
in Kristiansund, Norway.

Quantafuel's strategy is to build large-scale Plastics-to-Liquid (PtL) process
plants at multiple locations throughout Europe, and in due time expand into
other high-interest geographical regions. With NOK 577 million in cash by end of
Q1 2021, and strong support from our three strategic partners, BASF, Vitol and
Kirkbi, we are in a strong position to continue our journey shaping the chemical
recycling market for plastic.

Our primary focus remains on our plant in Skive to achieve proof-of-concept and
capacity to deliver at scale. Before Christmas we worked to improve the
gas-liquid ratio produced in the reactors, and in the first quarter we have
worked to improve operating stability downstream the reactors.

We have reached our targets set in the Q4 2020 report of running two lines in
parallel and reaching full capacity on one line. We sent our first shipment to
BASF in March. The budgeted total costs for the Skive plant remains unchanged at
NOK 581 million.

Quantafuel has been working on establishing a large-scale plant in Denmark for
the past two years, and after assessing more than 40 potential sites we selected
a plot outside Esbjerg. Building and environmental permit applications were
submitted six months ago, and we expect to receive final approval soon.

At our plant in Kristiansund, Norway, we are testing new reactor design for
future plastic-to-liquid plants. The chemical recycling pilot and reactor design
testing is conducted in partnership with BASF. The pilot has performed initial
testing during the first quarter, and further testing is planned for the second
quarter. The COVID-situation has resulted in delays for technical personnel
traveling to Kristiansund, but this has now been solved. We have recently
upgraded the control system of the pilot, and we expect to increase production
through chemical recycling of locally recycled plastics fractions over the next
weeks.

Outlook
The modification work on the Skive plant is progressing well, and we aim for
proof-of-concept during second quarter 2021. Further modification work on some
sub systems is required to reach continuous commercial production on all four
lines simultaneously. Modification work will be performed over the next months,
with an expected start of production at all four lines by the end of third
quarter 2021.

For Esbjerg, we have secured the property for the plant and are working
diligently towards the target of reaching FID.

Further, in Kristiansund we are increasing capacity on the pre-treatment and
engineering a chemical recycling plant planned to be operating alongside the
existing mechanical recycling plant.

Quantafuel is discussing the roll-out of large-scale capacity plants with both
existing and potential new partners. Quantafuel notices a rapidly growing
interest from major players across Europe that may lead to new partnerships and
FEED studies for integrated plants during the next months.

EU's Green Deal requiring 50% recycling within 2025 is an important accelerator
for plastic recycling, and Quantafuel is in pole position to take a lead in this
market. For Quantafuel this means more opportunities for business and continued
technology development, for which we are building our organisation.

Please see the attached Q1 2021 report and Q1 2021 presentation for further
information.

A webcast including Q&A will be hosted by CEO Kjetil Bøhn starting 10:00 CET. In
addition to the ordinary quarterly update, Deputy CEO & CCO Dr Christian Lach
and COO Terje Eiken will present updates from our plants in Skive and
Kristiansund. The presentation will be held in English.

Link to webcast:
https://quantafuel.com/ir
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210514_2

A recorded version of the webcast will be available after the presentation.

For further queries, please contact:
Kjetil Bøhn, CEO +47 91573818
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.