Today, Quantafuel announces Proof of Concept for its Skive chemical recycling
plant after more than seven days of continuous operation at a level
corresponding to an annual capacity of 16,000 tonnes of plastic waste infeed.
"This represents a major milestone for chemical recycling, Quantafuel and our
future growth," says Quantafuel's CEO Lars Rosenløv.
"Reaching this milestone is an important breakthrough for the company and for
chemical recycling. It has taken us longer than anticipated, but systematic
problem-solving by the entire organisation the past few months has made it
possible. Following the upgrades made in the fourth quarter, we have known that
our process and technology works. Now we have also managed to improve and
balance the uptime and capacity," says Quantafuel's CEO Lars Rosenløv.
The last two weeks in January, Quantafuel processed 100 tonnes a week. Over the
past seven days, we have converted 145 tonnes with the same two lines. This PoC
level corresponds to 16,000 tonnes annually at plant level and previous runs
have proven that the lines can run at an even higher level.
"We will continue our systematic approach removing bottlenecks and optimise
operational parameters reaching for higher throughput and earnings. This is a
normal exercise in the process industry," Rosenløv continues.
We will revert with a guiding on Skive in due course.
Recently, we communicated that Quantafuel is ready to move forward with a next
generation of larger-scale Plastic-to-Liquid plants. Today's announcement
reinforces this.
"We are well positioned to become a major, integrated recycling player and I
look forward to continuing the journey. Today we celebrate a major achievement
and thank all our employees, partners, contractors, suppliers and supporters,"
Rosenløv adds.
The achieved PoC equals more than seven days of continuous production with an
uptime above 90% at 16,000 tonnes of annual capacity, with an overall oil yield
of 68%.
For further queries, please contact:
Lars Rosenløv, CEO +47 93018040
Kristian Flaten, CFO +47 95092322
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 28 March 2022 at CET
07:00.