Quantafuel

Legal Proceedings Report • Feb 6, 2022

Quantafuel ASA | Skive update

Quantafuel ASA | Skive update

Quantafuel’s plant in Skive, Denmark, has experienced a mechanical failure in the burner chamber of one of the production lines. As a safety precaution, we have closed down all production for the time being, until root cause is identified and rectified.

Quantafuel has started an investigation into the failure, which occurred on Saturday evening. There were no personal injuries, neither any hazardous substances released to the environment. Danish authorities have been informed, but do not see a need for their participation.

Quantafuel continues to work towards finding and rectifying the root cause of the failure. We will revert to the market with further details, including expected production downtime.

Additional technical details:

Each of the four lines has a reactor consisting of a burner chamber and a rotating inner part. The burner chamber is heated up by a gas burner and the hot flue gas from the burner chamber heats the inner part of the reactor, where plastics pyrolysis takes place. Hence, the pyrolysis gas and the flue gas are physically separated and cannot be mixed due to the reactors’ design.

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. 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 Kristian Flaten, CFO, on 6 February 2022 at CET 14:05.