Reference is made to the announcement on 30 March 2023 regarding the term loan facility in the amount of up to NOK 250,000,000 (the “Facility”) entered into between Quantafuel AS (“Quantafuel”) as borrower and Planets UK Bidco Limited, an affiliate of Viridor Limited as lender (the “Lender”). Quantafuel has today entered into an amendment letter to the Facility, pursuant to which the Lender has, inter alios, (i) increased the Facility from NOK 250,000,000 to NOK 1,000,000,000 and (ii) extended the termination date of the Facility from 31 March 2024 to 30 September 2024.
The increase in the Facility is deemed necessary to provide adequate funding to support development and construction costs as well as other general corporate purposes (subject to prior consent from the Lender) for the next twelve months. The existing Quantafuel site at Skive has not reached a point of positive cash generation, and is expected to require further investment and optimisation in order to reach a point of positive cash contribution.
…
Vis børsmeldingen
Further information on project developments and Skive will be published in the H1 Trading Update on 31 August 2023.
For further queries, please contact:
Christian Bekkevold Nilsen, CFO +47 90277833
About Quantafuel | https://quantafuel.com
Quantafuel 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 throughout Europe and beyond.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act and the Euronext Growth Rule Book part II.
Kilde
