Quantafuel

M&A Activity • Dec 16, 2022

Quantafuel ASA | Plastic feedstock agreement signed between Resource Denmark and Finnish service company Lassila & Tikanoja (L&T)

Quantafuel ASA | Plastic feedstock agreement signed between Resource Denmark and Finnish service company Lassila & Tikanoja (L&T)

A feedstock agreement for the annual supply of at least 20,000 tons of Finnish household plastic waste has been secured for Resource Denmark, the country’s largest plastic waste sorting facility. For Resource, the annual value of the multi-year contract is in accordance with the company’s expectations.

The agreement with L&T is the first of its kind for Resource Denmark, which will be a major contributor to reach plastic recycling goals in the Nordics once it is up and running. There is a great need for plastic waste sorting infrastructure. Resource is a game-changer for the plastic waste market and is expected to be commissioned at the end of 2023, capable of sorting up to 160,000 tonnes of mixed plastics waste annually into recyclable fractions.

L&T will supply a minimum of 20,000 tons of Finnish household waste per year to Resource, with first deliveries in 2023. The agreement has a duration of two years, with a possible extension.

Resource’s owners, Quantafuel ASA and Eurazeo SE, welcome the news:

“The agreement is great news and an important milestone for Resource, which is taking a strategic position in the Nordics. We are pleased that L&T is aligned with our ambition to play an important part of solving the plastic waste problems. Resource allows for traceability of all waste received and treated, which will be essential for key industry players going forward,” says Quantafuel’s CEO Lars Rosenløv.

“This agreement with L&T, the first for Resource, with a renowned customer for a large quantity, is a key milestone to positioning ourselves as a key player in the Nordics. We are proud to be able to receive, process and sort plastic from as early as 2023,” says Martin Sichelkow, Eurazeo’s Managing Director of the Infrastructure team.

The construction of Resource in Esbjerg is well underway. The plant will be the largest of its kind in Denmark and consist of a state-of-the-art high-tech sorting system separating the plastic waste into mono fractions suitable for all types of recycling facilities, including mechanical and chemical recycling.

“Our mission is to make circular economy a reality. L&T is happy to be able to offer a solution for the plastic waste of EPR organization Finnish Packaging Producers Ltd together with Resource. Resource’s strong emphasis on sustainability and traceability is in line with our own. We look forward to a great cooperation in the coming years,” says Ville Vainio, Director in the Environmental services business from L&T.

For further queries, please contact:

Lars Rosenløv, CEO +47 93018040

Christian Bekkevold Nilsen, CFO +47 90277833

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.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by André Moe Bakke, IR, on 16 December 2022 at CET 07:55.