As announced inDecember 2022 , Geminor Invest AS ("Geminor") and Quantafuel AS ("Quantafuel ") have formed a joint company, Polynate AS - Circular Plastic Solutions ("Polynate"), with a strategic aim to take a leading position in the waste plastics value chain across the Nordics and theUK . Polynate is led by Ralf Schöpwinkel who has 25 years of waste industry experience from the Geminor group. Polynate was initially a 100% subsidiary ofGeminor. As announced byQuantafuel onApril 20th 2023 , as part of the transaction withViridor Limited whereQuantafuel agreed to divest its Geminor shares back to the original owners,Quantafuel also secured an option to acquire 50% ownership of Polynate. OnAugust 31st 2023 ,Quantafuel exercised this option, thereby directly controlling half of Polynate's shares. With the transaction concluded, the composition of Polynate's Board of Directors will reflect the ownership ofQuantafuel , withDominic Howson andChris Lach representingQuantafuel ,Kjetil Vikingstad andBernt-Olof Morgan Olausson representing Geminor, and withHåkon Thomas Olsen serving as the Chairman of Polynate's board. For further queries, please contact:Terje Ulla Eiken , CEO +47 41655493 orChris Lach , CCO +47 92035125 *** 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. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act Section 5-12.
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