Quantafuel ASA | Quantafuel and Eurazeo announce joint venture for sorting facility in Denmark

Plastic recycling specialist Quantafuel and Eurazeo have today signed a joint
venture agreement for the Esbjerg sorting facility, which will be the largest of
its kind in Denmark. The agreement remains subject to governmental approvals and
antitrust clearance.

Quantafuel and Eurazeo are today pleased to announce their binding agreement for
the development and operation of a 50/50 joint venture for a plastic waste
sorting plant in Esbjerg, Denmark. A game-changer for the plastic waste market
in Denmark, the sorting facility is expected to be operational during the second
half of 2023 and to significantly contribute to the EU and Denmark's recycling
targets. With over 50% of Danish plastic waste currently sent to incineration,
the plant will contribute significantly to reducing CO2 emissions.

To establish the joint venture, Eurazeo through Eurazeo Transition Infrastrcture
Fund will acquire 50% of the shares in Quantafuel's wholly owned subsidiary
Quantafuel Esbjerg Aps, which will develop and operate the plastic waste sorting
plant in Esbjerg. 

The plant will be the largest of its kind in Denmark and consist of a
state-of-the-art high-tech sorting system separating the plastic waste into mono
fractions suitable for selling to all types of recycling facilities, including
mechanical and chemical recycling.

"Today we have made a very important step in Quantafuel's growth plans. We are
thrilled to have a partner like Eurazeo whose goal is to invest responsibly and
laying the foundation for a sustainable future. Esbjerg is a strong investment
case and this is a unique opportunity to capitalise on a significant untapped
potential in the Danish market. The partnership with Eurazeo proves the
increased financing capabilities of Quantafuel. As Quantafuel keeps growing, we
are also widening the sources of financing," says CEO of Quantafuel, Lars
Rosenløv. 

"We are progressing well on the project; all major suppliers are engaged, and
the first machines are already at site preparing the land. This project will be
a key contributor to meet the high recycling ambitions in Denmark, and we are
excited to be able to do this in a sustainable manner with strong support from
the local community and the municipality of Esbjerg. When operational at the end
of 2023, the facility will employ close to 50 full-time employees and be capable
of sorting up to 160,000 tonnes of mixed plastic waste annually into recyclable
fractions," he continues.  

Martin Sichelkow, Eurazeo's Managing Director of the Infrastructure team, added:


"We are thrilled to partner with a like-minded, visionary and best-in-class
company such as Quantafuel that is built around ESG & sustainability
fundamentals fully aligned with our Article-9 Eurazeo Transition Infrastructure
Fund. By providing a local solution for plastic sorting to municipalities and
industrial companies, we will allow for improved traceability of all waste
received and treated. For current and future generations, it is paramount that
industry and finance team up to reduce the carbon footprint of plastic waste and
contribute to a circular economy. This project epitomises that ethos. We are
proud to be part of it and hope it is the start of a longer and wider
collaboration with Quantafuel."  

Further information :
o Quantafuel and Eurazeo have entered into a customary shareholders agreement
for the joint venture, and the 
parties share historic and future capex of the project. Reference is also made
to Quantafuel's NOK 400 million private placement on 27th January 2022, raising
the necessary funding for Quantafuel's part of the investment. The project is by
this fully funded. 
o Danske Bank, Norwegian Branch, have acted as transaction adviser, while
Wikborg Rein and Bech Bruun have acted as legal advisors to Quantafuel in
connection with the transaction.
o KPMG Corporate Finance and KPMG Denmark acted as transaction and tax advisor,
Niras as technical/market and ESG advisors, while Kromann Reumert acted as legal
advisors to Eurazeo.

For further queries, please contact: 
Lars Rosenløv, CEO [phone] 
Kristian Flaten, CFO [phone]  

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of
EUR32 billion in assets under management, including nearly EUR23.2 billion from
third parties, invested in 530 companies. With its considerable private equity,
venture capital, private debt as well as real estate and infrastructure asset
expertise, Eurazeo accompanies companies of all sizes, supporting their
development through the commitment of its nearly 360 professionals and by
offering deep sector expertise, a gateway to global markets, and a responsible
and stable foothold for transformational growth. Its solid institutional and
family shareholder base, robust financial structure free of structural debt, and
flexible investment horizon enable Eurazeo to support its companies over the
long term. 
Eurazeo Transition Infrastructure Fund is managed by Eurazeo Infrastructure
Partners
Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan,
Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo. 
Eurazeo is listed on Euronext Paris. 
ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA

About Quantafuel
Quantafuel is a market-leading technology-based recycling company upcycling
waste plastics back into low-carbon synthetic oil products replacing virgin oil
products. Quantafuel establishes, operates and owns dedicated plastic-to-liquid
(PtL) plants and plans to establish several plants throughout Europe and beyond.
EU's Green Deal requiring 50% recycling by 2025 is an important accelerator for
plastic recycling. For Quantafuel this means more business opportunities and
continued technology development. Quantafuel is 100% committed to contributing
towards solving the global waste problem, and its employees are proud of being
part of a company that is acting now.

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 24 May
2022 at CET 16:03.

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