Quantafuel

Regulatory Filings • Jul 8, 2021

Quantafuel ASA | Quantafuel purchases a site for its Esbjerg plant

Quantafuel ASA | Quantafuel purchases a site for its Esbjerg plant

Today, Quantafuel is pleased to announce the purchase of a 14.5-acre site, with an option to purchase an additional 12 acres in Esbjerg, Denmark. Here, Quantafuel plans to build one of the biggest plastic waste sorting plants in Europe, which also will be the first of its kind in Denmark.

“After a thorough screening for a suitable location in Denmark, we decided on the property in Esbjerg. The land size, well developed infrastructure, availability of qualified personnel, and the municipality’s positive focus on transforming from traditional oil and gas to renewable energy and a circular economy, was a very good fit with our requirements and ambitions,” says Terje Eiken, interim CEO of Quantafuel.

“We now have the environmental approval, and just completed the preliminary ground and archaeological examinations making us confident the land is suitable for our need. The cooperation and support given by the City Council throughout this process has been a great help to keep our schedule,” he continues.

“The project crosses an important milestone and I would like to congratulate Quantafuel on purchasing a site that matches the needs of the company. From the beginning, Quantafuel has been aware of the possibilities in Esbjerg, and I am very pleased that the final formalities are falling into place. In 2030, Esbjerg Municipality will be CO2-neutral, and as Denmark's sustainable EnergyMetropolis, our ambitions remain high. In this respect, we are gaining a skilled partner in Quantafuel, because the company shares our commitment to the green transition,” says Mayor Jesper Frost Rasmussen from Esbjerg Municipality.

A game-changer for the plastic waste market in Denmark

Quantafuel’s Esbjerg development will consist of a state-of-the-art plastic waste sorting facility integrated with a chemical recycling plant. Chemical recycling has the potential to utilize and recycle twice as much of the plastic waste compared to traditional mechanical recycling, making the value chain circular.

“There is currently a great need for plastic waste sorting in Denmark, meaning that plastic is exported to be sorted abroad or incinerated – both with very negative environmental effects. Denmark has set very high targets for recycling of plastic waste, and new regulations and laws are passed to ensure these targets are achieved. Our plant in Esbjerg will be a major contributor for Denmark to reach this goal. We will build a plant for the future with capacity to receive, sort and eventually recycle more plastic waste than currently collected in Denmark, turning waste into a resource in a sustainable manner,” Terje Eiken says.

Although the plant will focus on sorting plastic waste into qualities suitable for Quantafuel’s unique chemical recycling process, it will also deliver sorted plastic to the mechanical recycling industry.

For further queries, please contact:

Astrid Mannion-Gibson, Head of Communications +47 46632010

Terje Eiken, CEO (interim) and COO +47 41655493

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 announcement was published by Kristian Flaten, CFO in Quantafuel ASA, on 8 July 2021 at 11:00 CET.