WPU – End-of-Life plastic successfully upcycled to plastic oil liquid

13 Apr 2023 22:44 CEST

Date: April 13, 2023
Announcement no: 9
ISIN: DK0061676400


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WPU – End-of-Life plastic successfully upcycled to plastic oil liquid

WPU - Waste Plastic Upcycling A/S ("Waste Plastic Upcycling" or “WPU”) is
pleased to announce that reactor line 1 at the WPU – Faarevejle facility today
successfully completed a full process cycle and produced plastic oil liquid.

The process cycle was completed in-line with operational protocols and the
quantity of produced plastic oil liquid met the yield levels stipulated on the
basis of WPU’s know-how obtained through earlier operations.

The completed process cycle demonstrates the robustness of the WPU Batch
Technology in respect of efficient upcycling end-of-life plastic waste.

FACTS about the WPU Faarevejle facility:

• The Faarevejle facility is based on the WPU Batch technology – an advanced
chemical upcycling technology which converts end-of-life plastic waste to
upcycled plastic oil liquid (PtL) that can be used for example to produce new
plastic,
• The facility is the first commercial scale WPU facility,
• The construction and installation of equipment was done in one year,
• The Facility is based on six reactor line with the initial capacity to upcycle
a total of approx. 42,000 tons (92,000,000 US pounds) of plastic waste per year,
• The upcycling process is materially energy self-sufficient as reactor gas
(syngas) from production is utilized to heat the reactors,
• CAPEX for the construction of the facility was EURm 14 (EUR 333 pr. metric ton
capacity)
• Once fully operational the Faarevejle facility will generate a yearly EBITDA
of EURm 15,
• The facility is expected to be cash positive from Q3 and fully operational by
Q4-2023.


Picture from production April 13, 2023
(see attachment for picture)


CEO Niels Henrik Bagge: ”WPU has been working hard to diligently deliver on
promises in respect to the timeline for start - on upcycling plastic waste.
Today’s milestone is a great accomplishment.”

Co-CEO Lotte Rosenberg: “The successful upcycling process today underpins the
efficient fast paste scalability of the reliable and economically sound WPU
Batch Technology”

Chairman of the board of directors Niels Stielund: “I am pleased and humbled of
WPU achieving this milestone and look forward to begin a new chapter.”


About WPU:

WPU Waste Plastic Upcycling A/S is a Danish company focused on upcycling plastic
waste to pyrolysis oil, that may be used as full range Naphtha or may be
distilled to kerosene/jet fuel. The strategy and main goal of Waste Plastic
Upcycling A/S is to upcycle end-of-life plastic waste by using its batch
pyrolysis technology. WPU aims for further expansion, in the European market as
well as globally. WPU is well positioned for this expansion with its proven
technology that is peer-leading in respect of low CAPEX, high capacity and
fast-paced construction which will set the future standards in the growing
market for plastic pyrolysis within the waste plastic industry.

For further information, contact:
Klaus H Lindblad, Vice Chairman, Global Head of IR and Legal, e-mail:
KL@WPU-DK.COM.


Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures. The securities referred to in this announcement
have not been and will not be registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), and accordingly may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and in accordance with
applicable U.S. state securities laws. The Company does not intend to register
any part of the offering in the United States or to conduct a public offering of
securities in the United States. Any sale in the United States of the securities
mentioned in this announcement will be made solely to "qualified institutional
buyers" as defined in Rule 144A under the Securities Act. In any EEA Member
State, this communication is only addressed to and is only directed at qualified
investors in that Member State within the meaning of the Prospectus Regulation,
i.e., only to investors who can receive the offer without an approved prospectus
in such EEA Member State. The expression "Prospectus Regulation" means
Regulation (EU) 2017/1129 as amended (together with any applicable implementing
measures in any Member State. This communication is only being distributed to
and is only directed at persons in the United Kingdom that are (i) investment
professionals falling within Article 19(5) of the Financial Services and Markets
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net worth entities, and other persons to whom this announcement may lawfully be
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persons together being referred to as "relevant persons"). This communication
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is lawful to do so. Matters discussed in this announcement may constitute
forward-looking statements. Forward-looking statements are statements that are
not historical facts and may be identified by words such as "believe", "expect",
"anticipate", "strategy", "intends", "estimate", "will", "may", "continue",
"should" and similar expressions. The forward-looking statements in this release
are based upon various assumptions, many of which are based, in turn, upon
further assumptions. Although the Company believe that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict, and are beyond their
control. Such risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the expectations expressed
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not make any guarantee that the assumptions underlying the forward-looking
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responsibility for the future accuracy of the opinions expressed in this
announcement or any obligation to update or revise the statements in this
announcement to reflect subsequent events. You should not place undue reliance
on the forward-looking statements in this announcement. The information,
opinions and forward-looking statements contained in this announcement speak
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not undertake any obligation to review, update, confirm, or to release publicly
any revisions to any forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this announcement.
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accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
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relied upon in substitution for the exercise of independent judgment. It is not
intended as investment advice and under no circumstances is it to be used or
considered as an offer to sell, or a solicitation of an offer to buy any
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announcement is an advertisement and is not a prospectus for the purposes of
Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14
June 2017 on prospectuses to be published when securities are offered to the
public or admitted to trading on a regulated market, and repealing Directive
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considered to be inside information pursuant to the EU Market Abuse Regulation,
and is subject of the disclosure requirements of section 5-12 of the Norwegian
Securities Trading Act.

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587588_WPU Ann 9 2023 End-of-life plastic successfully upcycled exec.pdf
587588_Pic from production april 13-2023 ann.9 .zip