Transforming plastic waste into

valuable low-carbon products

Corporate presentation

December 2019

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P A R T O F T H E S O L U T I O N

Quantafuel turns a global environmental problem into low-carbon products

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P L A S T I C – A M A N M A D E “ W O N D E R M A T E R I A L ”

Plastic production grows steadily – fastest growing man-made material

Source: Plastics Europe

Million tonnes

per year

~650(2035)

1950 1970 1990 2010 2030 2050

86(1985)

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The most difficult material to recycle mechanically

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P L A S T I C W A S T E I N D E N M A R K

~110,000 tonnes separated plastic waste and ~750,000 total plastic waste

– ~50,000 tonnes separated for mechanical recycling

~650,000 MT

Separated

plastic waste

Plastic waste included in

other waste streams

Plastic waste

streams

Chemical

recycling

Recycling

potential

50 –

100,000

MT

Hard to separate

plastic waste

Quantafuel relevant feedstock

~110,000 MT

300 – 400,000 MT

Source: http://mst.dk/affald-jord/affald/affaldsdatasystemet/find-affaldsdata/affaldsstatistikker/

Mechanical

recycling

300 –400,000 MT

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H I G H G R O W T H N A S C E N T M A R K E T

Need a rise of structured plastic waste management and recycling

Luckily it is on the way…

Source: McKinsey&Company

2030: >200 million tonnes plastic reused

2030: “Alternative reuse” of plastic

biggest profit growth

>50 million

tonnes for

pyrolysis

~25 BUSD for

pyrolysis

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M A R K E T M A C R O O U T L O O K

Global players scrambling for developing their position

Oil majors Chemical majors Recycling majors

Company examples

“REMONDIS has in i t ia ted a

pro ject to develop and operate

so-ca l led chemica l recyc l ing

fac i l i t ies .“

Company examplesCompany examples

Stated ambition:Stated ambition:Stated ambition:

“BASF is work ing on

recover ing and recycl ing o f

plast ics through our

ChemCycl ing pro ject.“

“Neste targets to process more

than one mi l l ion tons o f p last ic

waste annua l ly by 2030.“

See major opportunities in

alternative fuels

Expect chemical recycling to

become a major factor

Need to increase recycling –

require chemical recycling

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E F F I C I E N T P L A S T I C R E C Y C L I N G

Quantafuel is pioneering the plastic recycling industry –

giving waste plastic now being incinerated a second life

Low-carbon fuel

Capturing local plastic

waste as a resource…

…through small plants

and proven technology…

…producing high-quality,

synthetic products.

Re-use plastic waste ÷ 90 % GHG emission in

fuel production

Reduce local emissions

Quantafuel first company with 30 USD/boe break-even

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U N I Q U E C A T A L Y S T S O L U T I O N A N D P L A N T D E S I G N

Quantafuel with unique and proprietary catalyst and enabling small, efficient

plant design constructed with tried and tested components

Plastic pyrolysis reactor Quantafuel reactor Distillation Storage and offloading

2 3 4 5

Plastic Feeding

1

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T E C H N O L O G Y R E F I N E M E N T S

Feedstock handling system1

B Technology

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U N I Q U E C A T A L Y S T S O L U T I O N A N D P L A N T D E S I G N

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T E C H N O L O G Y R E F I N E M E N T S

4 Pyrolysis reactor2

B Technology

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T E C H N O L O G Y R E F I N E M E N T S

Unique catalyst solution

B Technology

3

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U N I Q U E C A T A L Y S T S O L U T I O N A N D P L A N T D E S I G N

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T E C H N O L O G Y R E F I N E M E N T S

Distillation column and storage

B Technology

54

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S T R A T E G I C P A R T N E R S H I P A G R E E M E N T S I G N E D

Started preparation for two large scale projects – goal of 5

1) ARA is the abbreviation for the ports of Amsterdam, Rotterdam and Antwerp

Antwerpen

Bayern

• Aligned to start preparation for two

large sites

• Antwerpen and Bayern

• 100.000 ton + capacity per location

• Pre-engineering, site allocation,

permitting, feed-stock supply, location,

budgets

• 50/50 JV structure Vitol – QF

• 2 X 100 MUSD investment

• 150 MUSD revenue – 100 MUSD EBITDA

potential

• FID right after Skive

• Pre-project financed by Vitol

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S T R A T E G I C P A R T N E R S H I P A G R E E M E N T S I G N E D

Strategic partnership with BASF

1) ARA is the abbreviation for the ports of Amsterdam, Rotterdam and Antwerp

• 20 MEUR investment – 10 MEUR equity,

10 MEUR convertible bond

• Access to process and operation

capacity for the start-up of Skive

• Engineering resources to reach

industrial scale roll-out

• Off-take in Denmark to build the

market

• Development of a naphtha solution

• Intention to replace part of the 20

MTON use of naphtha with recycled

material

• None-exclusive agreement

Largest chemical company in the world with 63 BEUR turnover and 122.000 employees.

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O W N T H E V A L U E C R E A T I O N

Quantafuel’s business model is to build, own and operate PtL plants,

each established as a separate SPV

Service fee

Local partner

• Invest capital

• Local competence

• Potentially contribute with feedstock

Plant owning SPV

• Quantafuel ownership >50 %

• Plant construction and operations

• Plant financing

• Secure feedstock and fuel sales

• Plant technology and design

• Plant planning, construction and

commissioning

• Operational support

2

Plant price

1

Dividend

3

To the beginning of

a partnership