Quantafuel's plant in Skive reached 90% of design capacity on one production line before Christmas, and we initiated key improvements to the plant to obtain final proof-of-concept and start delivery to BASF Ludwigshafen at scale. We have completed two landmark acquisitions and strengthened our R&D and technology ownership. Our pilot plant in Kristiansund is ready for start-up in Q1 2021, and we aim to take FID on a major plant for plastic recycling in Esbjerg,Denmark . Building further on these achievements, we have the ambition to start several FEED projects in the months to come with existing and new partners. A key milestone that informs our decision process is the Skive PtL proof-of-concept when one production line has delivered at full production capacity for some time. After solving the initial problems with the mass balance and reaching over 90% of design capacity on one line for a short period before Christmas, we have prioritised to implement improvements in Skive that aim to increase production stability. Our main objective over the next weeks is to run two lines in parallel over some time, to further optimise operating parameters, and to reach maximum design capacity on one line. We expect to reach these important milestones early Q2 2021. As stated many times earlier, we expect to have several both planned and unplanned periods with downtime also in the months to come. We are however pleased with the fact that we have seen good progress and results since start of operations in September and remain confident that the improvements that are being implemented at a steady pace allow us to reach the milestones that enables decisions that deliver our ambitious expansion plans. To reach full commercial production on all four lines we have to make some further modifications, as earlier announced, of which some have resulted from requirements from Danish authorities. Our plan is to work with the two lines already in operation towards the summer, and use the summer break to install these modifications, with the ambition to reach commercial production levels on all four lines by end of Q3 2021. With the current modification work being performed at the Skive plant, total costs for the plant have increased byNOK 33 million toNOK 581 million . Commissioning of equipment at our Replast facilities in Kristiansund is progressing ahead of plan, and the results from this pilot testing will provide valuable input toQuantafuel's next plant design. We have taken the next important step through the initiation of a FEED for a permanent 10,000 tons per year plastic-to-liquid chemical recycling facility in Kristiansund with expected start-up end of 2022. In parallel with the work in Skive to improve and get to full capacity, we see the final investment decision for a new PtL plant in Esbjerg as a key milestone forQuantafuel . We have secured the property for the plant and are working diligently toward the target of reaching FID on Esbjerg in Q1 2021. As previously reported,Quantafuel is discussing the roll-out of large-scale capacity plants with both existing and potential new partners.Quantafuel notices a rapidly growing interest from major players acrossEurope that might lead to new FEEDs for integrated plants during the next months. EU's Green Deal requiring 50% recycling within 2025 is an important accelerator for plastic recycling, andQuantafuel is in pole position to take a lead in this huge market. Please see the attached Q4 2020 report and Q4 2020 presentation for further information. A conference call followed by Q&A will be hosted by CEOKjetil Bøhn at10:00 CET . The presentation will be held in English. Please register your attendance via the following link: http://emea.directeventreg.com/registration/2566738 For further queries, please contact: Kjetil Bøhn, CEO +47 91573818Kristian Flaten , CFO +47 95092322 AboutQuantafuel | https://quantafuel.comQuantafuel 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 throughoutEurope and beyond
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