Quantafuel

Earnings Release • Sep 15, 2020

Quantafuel ASA | Operation on track and ready to start scaling

Quantafuel ASA | Operation on track and ready to start scaling

After transforming the equivalent of 66,000 used grocery bags into high-quality liquids on the first day of operation, Quantafuel’s goal has been to reach stable and continuous operation at a controlled level on one reactor at our plant in Skive, Denmark. We are therefore happy to announce that we over the last 48 hours have reached this target, and now plan for a gradual increase of capacity, first on one reactor, and then over the next couple of weeks on several reactors simultaneously.

- We are humble for the tasks ahead and know that there will a period with unstable production and probably new challenges that need to be overcome. But we are proud to have reached this crucial milestone so fast and continue our dedicated work towards full production, says Kjetil Bøhn, CEO of Quantafuel, and adds;

- At full production in Skive we will receive three truckloads with a total of 60,000 kg, or the equivalent of four million grocery bags, of household waste from Norway and Denmark each day, that will be transformed into 48,000 kg high-quality liquids. Our partner BASF has started preparations for receiving the first truckloads of commercial products from Quantafuel, and we work diligently to reach this milestone soon.

Based on the existing contracts for raw material and offtake, the 20,000 ton per year plant in Skive is expected to deliver close to USD 10 million in yearly EBITDA at full production.

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.