Quantafuel

🔊 This afternoon, Quantafuel released its fourth quarter results. It has been both a challenging and a rewarding quarter; Delayed positive cash flow from operations combined with required funding of ongoing and future projects have resulted in the need of a financing solution by mid-Q2. At the same time, we have had good progress with our pipeline projects and we’ve continued to reach new milestones at our plant in Skive.

Since October, we have executed a broad process to secure a fundament for growth through a long-term financing solution in preparation of a second generation (MK II) roll-out. The feedback we have received has been positive and encouraging, supporting what we’ve been saying all along: We are a global leader within chemical recycling of plastic waste.

Today, the strategic review is concluded and we can now share the news that the UK-based recycling and waste management company Viridor has announced a formal offer to acquire all of Quantafuel’s outstanding shares for NOK 1.058 million. The offer from Viridor is unanimously recommended by Quantafuel’s Board of Directors and management group.

“We see Viridor’s cash offer as the best available option that resolves both the need for short-term financing as well as providing robust foundations for the company’s portfolio of growth projects. Viridor is a good fit and is, just like Quantafuel, determined to play a leading role in transforming the waste sector towards circularity. Plastic waste is one of our time’s most pressing environmental challenges and chemical recycling is key to help solve this. I’m glad that Viridor is eager to position Quantafuel for future growth and take on the next chapter of the company’s journey,” says Quantafuel’s CEO Lars Rosenløv.

Click on the links below for full press releases:

https://www.quantafuel.com/media #/pressreleases/quantafuel-concludes-its-strategic-review-with-proposed-acquisition-by-viridor-3236552
https://www.quantafuel.com/media #/pressreleases/quantafuel-concludes-its-strategic-review-with-proposed-acquisition-by-viridor-3236552
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