Chief executive officer and founder of Geminor Kjetil Vikingstad and Ralf Schöpwinkel entered into an agreement to acquire remaining 40% stake in Geminor AS from Quantafuel ASA (OB:QFUEL) for NOK 80 million on April 17, 2023. In connection with the sale of the Geminor Shares, the Quantafuel and Geminor will enter into an option agreement, giving the Quantafuel the right to aquire 50% of the shares in Polynate AS, for the purpose of establishing a 50/50 joint venture between the Quantafuel and Geminor. The transaction is expected to be completed on or about April 20, 2023.

Chief executive officer and founder of Geminor Kjetil Vikingstad and Ralf Schöpwinkel completed the acquisition of remaining 40% stake in Geminor AS from Quantafuel ASA (OB:QFUEL) on April 20, 2023.