Quantafuel

Business and Financial Review • Oct 21, 2020

Quantafuel ASA | Update Skive

Quantafuel ASA | Update Skive

Quantafuel has received many requests for updates and production data, and we appreciate the tremendous interest and engagement. We work towards taking one production line into full production and demonstrate the upgrading steps that are the core of the Quantafuel technology, and from that point gradually increase production until we reach nameplate capacity and expected quality. We will however not provide daily or weekly updates unless it deviates from communicated expectations.

Quantafuel has since the start of production in Skive worked diligently to move the plant towards stable production. This is a process that we, as communicated before, expect to take months. The results from a chemical process plant is the combination of the technology itself and the operating conditions throughout the whole process line. That includes temperature, pressure, and time. Each time one of these parameters are changed somewhere in the production line, we must wait and monitor the effect before we change a new parameter.

It is a time-consuming effort, as with all plants of these kinds, and from time to time we will stop production either due to safety procedures, inspections, or other events, which is normal and expected. We are however pleased to see that we from start of operation have been able to run the process with a high degree of control, and that manual and automatic safety measures and procedures have worked as intended.

Further information will be provided at our Q3 2020 report due on the 13th of November, unless we have information that, in a positive or negative way, deviate from our expectations as described above.

For further queries, please contact:

Kjetil Bøhn, CEO +47 91 57 38 18

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.