Press release -
Quantafuel well on its way to become the market leader within chemical recycling of plastic
Quantafuel is in a strong position to continue its journey shaping the chemical recycling market for plastic. In its first quarter 2021, Quantafuel reports NOK 577 million in cash by end of Q1 2021 and strong support from its three strategic partners BASF, Vitol and Kirkby.
The company’s strategy is to build large-scale Plastics-to-Liquid (PtL) process plants at multiple locations throughout Europe, with further expansion into other high-interest geographical regions.
Recently, Quantafuel operated a production line at its plant in Skive, Denmark, at full capacity with the right balance between gas and oil production and increased operational stability. With these major achievements, the company targets proof-of[1]concept in Q2 2021 and full production end of Q3 2021. In addition, Quantafuel recently began feeding plastics into its new technology test plant in Kristiansund, Norway.
Read Quantafuel’s full first quarterly report for 2021 here.
From day one, Quantafuel’s fundamental idea has been to solve the world’s plastic waste problem by transforming soiled plastic into new products. What makes Quantafuel unique, is that we have developed technology that purifies the gas formed by the process and alter the molecules. This allows us to produce a chemically-recycled, attractive product that satisfies a huge demand in the market.
Quantafuel solution is to place a value on plastic waste. We must start treating used plastic as a valuable resource, establishing a model for waste plastic collection and upgrading it to recycled products. The entire value chain needs to be circular.
