Quantafuel

M&A Activity • Jun 28, 2021

Quantafuel ASA | Quantafuel takes full ownership of Skive plant

Quantafuel ASA | Quantafuel takes full ownership of Skive plant

Quantafuel ASA continues to strengthen its position in Denmark by acquiring the remaining shares of Quantafuel Skive ApS (“Quantafuel Skive”). Quantafuel ASA currently owns 76.3% of the shares in Quantafuel Skive, the operating company of the Skive plant, and has now reached an agreement to acquire the remaining 23.7% of the shares. The agreement is in line with the process and figure presented in our Q1 2021 report, representing approx. 2% of the outstanding shares of Quantafuel ASA.

Quantafuel ASA and the minority shareholders in Quantafuel Skive have agreed a purchase price of NOK 116.9 million in full settlement of the shares. The parties’ shareholders agreements with respect to Quantafuel Skive will terminate from completion of the transaction. Settlement will be made in 2.88 million consideration shares in Quantafuel ASA. 1/3 of the consideration shares will be subject to lock-up restrictions until 28 September 2021, and an additional 1/3 of the consideration shares will be subject to lock-up restrictions until 28 June 2022.

“As we move towards full production at Skive, taking full ownership of the plant is in the best interest of Quantafuel. We are grateful to see that our long-term partners and shareholders in Quantafuel Skive ApS have accepted consideration shares in Quantafuel ASA, further underscoring our mutual commitment to the plant and our business,” says Kjetil Bøhn, CEO of Quantafuel ASA.

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.

This information is subject of the disclosure requirements pursuant to Euronext Growth Oslo Rule Book - Part II section 3.10

This announcement was published by Kristian Flaten, CFO in Quantafuel ASA, on 28 June 2021 at 18:45 CET.