Investors / Investment case
Plastic waste, biomass, stranded gas and flared gas are unused resources causing huge environmental and financial problems. Quantafuel turns these problems into a profitable business proposition by producing environmentally friendly, clean and low-cost synthetic diesel.
If you want to know more about Quantafuel as an investor or partner, please email us at: email@example.com.
Quantafuel is based in Norway drawing on 50 years of industry experience and 8 years of technological development.
Financial statement and review
Quantafuel AS (NOTC: QFUEL) is a Norwegian technology based energy company converting under-utilised hydrocarbon resources into high-quality fuel products.
Quantafuel AS | First quarter results 2020
Despite challenging times, Quantafuel has managed to keep reasonable progress in the last testing phase in Skive, and we are now running final hot commissioning of the plant. In parallel, Quantafuel is preparing for a major roll-out of capacity after start of commercial operations in Denmark.
- Skive commissioning in final stage before production start-up
- Preparing roll-out of new facilities at key strategic locations
- Collaboration agreement with BASF
- MOU with strategic investor contemplating an equity investment
- Commercial study with Equinor
The Skive project is just weeks away from starting production of low-carbon products from mixed, plastic waste that will be transported to BASF in Germany and used to produce new plastic. The project has experienced further delays during Q1 2020 due to the outbreak of Covid-19, adding to the existing challenges related to changes and adjustments during commissioning. This has resulted in an increase in commissioning costs of NOK 36 million compared to the preliminary 2019 figures. In accordance with the relevant accounting standards, this has been included in the audited consolidated financial statements for 2019.
Following the investment agreement with BASF in Q3 2019, Quantafuel and BASF has on 20 March 2020 signed a collaboration agreement which includes among others a cooperation on technology development.
On 12. May 2020, Quantafuel announced the signing of a MoU with an undisclosed strategic investor contemplating an equity investment in Quantafuel. This is a potential partner that is not within the petrochemical industry, but rather brings complimentary and ancillary business to our existing relationships, and hence will help us close the loop on chemical recycling and fasten the process of getting new legislation implemented. The agreement is signed in understanding and with the support of existing strategic investors, BASF and Vitol. We expect to present final terms and conditions for the transaction by the end of June this year.
Please see the attached Q1 2020 report for the consolidated financial statements of Quantafuel. Download PDF