Quantafuel

About Quantafuel

Quantafuel ASA, now a wholly-owned subsidiary of Viridor, operates within the chemical recycling sector, focusing on the transformation of plastic waste into higher-value chemical products. The company was founded in 2014 by Kjetil Bøhn, who brought experience from the oil and gas industry. Initially, Quantafuel aimed to convert mixed plastic waste into a synthetic crude oil, known as Q-Fuel, through a catalytic pyrolysis process. This process was designed to handle plastic waste that is typically difficult to recycle through mechanical means, thereby addressing a significant challenge in the circular economy.

The company's journey involved significant research and development to refine its technology. A key milestone was the establishment of its first industrial-scale plant in Skive, Denmark, which became operational and commenced continuous production. This facility was designed to process approximately 20,000 tonnes of plastic waste annually. Quantafuel's business model is centered on establishing and operating these plastic-to-liquid (PtL) plants. It generates revenue by selling the resulting chemical products, which can be used as feedstock for new plastic production, effectively creating a closed-loop system. The company collaborates with waste management firms for feedstock and partners with major chemical companies, such as BASF, for the offtake of its products.

Following a period of operational challenges and strategic review, Quantafuel was acquired by the British recycling and waste management company Viridor in a transaction completed in 2023. This acquisition integrated Quantafuel's chemical recycling technology with Viridor's extensive feedstock and logistics network, aiming to create a more robust and scalable circular economy platform. The company's stock, previously listed on the Euronext Growth Oslo exchange under the ticker QFUEL, was subsequently delisted. The combined entity focuses on deploying this advanced recycling technology across Europe, starting with a planned facility in Falkirk, Scotland.