Inactive Instrument

Quantafuel

QFUEL

NO0010785967

Quantafuel finalises acquisition of 50% stake in Polynate

August 31, 2023 at 04:21 am EDT

As announced in December 2022, Geminor Invest AS ("Geminor") and Quantafuel AS
("Quantafuel") have formed a joint company, Polynate AS - Circular Plastic
Solutions ("Polynate"), with a strategic aim to take a leading position in the
waste plastics value chain across the Nordics and the UK. Polynate is led by
Ralf Schöpwinkel who has 25 years of waste industry experience from the Geminor
group. 

Polynate was initially a 100% subsidiary of Geminor. As announced by Quantafuel
on April 20th 2023, as part of the transaction with Viridor Limited where
Quantafuel agreed to divest its Geminor shares back to the original owners,
Quantafuel also secured an option to acquire 50% ownership of Polynate. On
August 31st 2023, Quantafuel exercised this option, thereby directly controlling
half of Polynate's shares. 

With the transaction concluded, the composition of Polynate's Board of Directors
will reflect the ownership of Quantafuel, with Dominic Howson and Chris Lach
representing Quantafuel, Kjetil Vikingstad and Bernt-Olof Morgan Olausson
representing Geminor, and with Håkon Thomas Olsen serving as the Chairman of
Polynate's board. 

For further queries, please contact: Terje Ulla Eiken, CEO +47 41655493 or Chris
Lach, CCO +47 92035125

*** 

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 subject to the disclosure requirements pursuant to the Norwegian
Securities Trading Act Section 5-12.

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Latest news about Quantafuel

Viridor Limited acquired remaining stake in Quantafuel AS (OB:QFUEL).	Feb. 06	CI
Quantafuel Files for Delisting from Oslo Børs	Jan. 30	MT
Viridor Limited agreed to acquire remaining stake in Quantafuel AS (OB:QFUEL) for approximately NOK 180 million.	Jan. 29	CI
Transcript : Quantafuel AS - Shareholder/Analyst Call	Jan. 18
Quantafuel AS Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 15	CI
Quantafuel AS Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-31	CI
Quantafuel AS (OB:QFUEL) acquired 50% stake in Polynate AS.	23-08-30	CI
Quantafuel Appoints New CFO	23-08-23	MT
Quantafuel AS Announces CFO Changes	23-08-22	CI
Quantafuel AS Announces Amendment to Viridor Term Loan Agreement Increasing Facility to NOK 1,000 Million	23-07-07	CI
Quantafuel as Elects Omar Shafi Khan as Board Member	23-06-16	CI
Quantafuel ASA Announces Christian Bekkevold Nilsen to Step Down At the End of November as CFO	23-05-15	CI
Quantafuel ASA Announces Executive Changes	23-05-15	CI
Quantafuel AS Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-12	CI
Viridor Unit Completes Takeover Offer for Quantafuel, Secures Nearly 81% Stake	23-05-05	MT
Viridor Limited completed the acquisition of Quantafuel ASA (OB:QFUEL) from BASF SE, KIRKBI A/S and others for approximately NOK860 million.	23-05-04	CI
Viridor Unit Further Extends Offer Period for Quantafuel Acquisition	23-04-24	MT
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).	23-04-19	CI
Viridor Again Extends Offer Period for Quantafuel Acquisition	23-04-17	MT
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.	23-04-16	CI
Viridor Extends Offer Period for Quantafuel Acquisition	23-03-30	MT
Quantafuel Says Takeover Offer by Viridor Secures UK Regulatory Approval	23-03-14	MT
Quantafuel ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022	23-02-28	CI
Transcript : Quantafuel ASA, Q4 2022 Earnings Call, Feb 28, 2023	23-02-28
Viridor Limited made an offer to acquire Quantafuel ASA (OB:QFUEL) BASF SE, KIRKBI A/S and others for NOK1.05 billion.	23-02-27	CI

Quantafuel ASA is a Norway-based recycling company, that converts post-consumer plastic waste back into low-carbon synthetic oil products replacing virgin oil products in the production of new plastics, as well as development and operation in related services. The Company establishes, operates and owns dedicated Plastic-to-Liquid (PtL) plants and plastic sorting facilities. Quantafuel has two plants in operation: Skive (Denmark) for chemical recycling and Kristiansund (Norway) for combined mechanical and chemical recycling. The Company is focused on building a circular economy for plastics that increases resource utilization and reduces emissions.

Sector

Renewable Fuels

Calendar

2024-05-09 - Q1 2024 Earnings Release (Projected)

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