Reference is made to the stock exchange notice by Quantafuel ASA ("Quantafuel")
earlier today regarding the acquisition of 40% of the shares in Geminor Invest
AS against a purchase price of NOK 168 million to be settled in 2,720,044
consideration shares in Quantafuel plus a cash element of approximately NOK 2
million. 

As further discussed in the notice, the issue of the consideration shares in
Quantafuel was resolved by the board of directors today by use of the board
authorisation granted by Quantafuel's extraordinary general meeting on 3 July
2020. Following the issue of the consideration shares, Quantafuel's issued share
capital will be NOK 1,385,462.61 divided on 138,546,261 issued shares, each with
a par value of NOK 0.01. 

For further queries, please contact: 
Kristian Flaten, CFO +47 95 09 23 22


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.