Quantafuel ASA |Quantafuel ASA and Geminor AS have established Geminor Plastic

19 Dec 2022 08:00 CET

Quantafuel ASA and Geminor AS’ establishment of Geminor Plastic is in line with
Quantafuel’s strategy to take a lead position in the value chain for plastic
waste recycling.

Geminor Plastic will focus only on plastic waste fractions and build on years of
experience trading waste fractions cross border with full traceability at
competitive prices, supporting both Quantafuel and Geminor to become the leading
player for plastic waste. The main focus will be on the Nordic markets and the
UK.

“This move will make our effort more targeted on plastics, which will support
the ongoing industrialisation of the company with full traceability though the
value chain; from the waste bin to new plastic produced,” says Lars Rosenløv,
CEO of Quantafuel.

Quantafuel and Geminor have a 50/50 ownership of the new company Geminor
Plastic.

Today, Quantafuel has a 40% ownership in Geminor. With the establishment of
Geminor Plastic, Quantafuel no longer has the option to acquire the remaining
shares of Geminor.

For further queries, please contact:
Lars Rosenløv, CEO +47 93018040
Christian Bekkevold Nilsen, CFO +47 90277833

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 André Moe Bakke, IR, on 19
December 2022 at CET 08:00.

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