Saipem and Quantafuel ASA have signed a Memorandum of Understanding (MoU) to
collaborate in the industrialization and construction of waste plastics chemical
recycling plants based on Quantafuel technology.
This MoU positions Saipem to globally market and construct under Quantafuel
technology license industrial plants specialised in pyrolysis. This
thermochemical process converts solid plastic waste into liquid or gaseous
products that can be reused as fuel or chemical raw materials for plastics
recycling. Furthermore, Saipem will provide intelligent smart operation and
maintenance services, as well as joint performance guarantees for the plants,
jointly issued by both companies.
On the basis of the agreement scalable and modular solutions for waste plastics
recycling plants will be developed, which will be easily adapted to the
specificities of the different sites. The technological solution offered will
allow users to increase the utilisation of mixed plastic waste in the production
of a pyrolysis oil that can be reused for new chemical and plastics production.
Through this cooperation with Quantafuel, Saipem will deliver globally one of
the first modular concepts for the circular economy, supporting its clients on
their sustainability path also with this innovative plastics recycling solution.
Saipem and Quantafuel are committed to delivering a series of projects to the
market with this agreement, allowing both parties to pursue their respective
objectives in the circular economy to maximise the benefits for the environment.
With the agreement, Quantafuel will strengthen its project implementation
capabilities worldwide and add the licensing approach to its existing business
plan of building, owning and operating pyrolysis plants, creating additional
opportunities to commercialize its technologies.
Therefore, Saipem and Quantafuel are making a significant step towards the
promotion of a regenerative model aimed at contributing to the achievement of
Net Zero targets through the reduction and the subsequent valorisation of waste
by plastics chemical recycling, thus maximising the benefits for the
environment.
For further queries, please contact:
Lars Rosenløv, CEO +47 93018040
Kristian Flaten, CFO +47 95092322
About Saipem | www.saipem.com
Saipem is an advanced technological and engineering platform for the design,
construction and operation of safe and sustainable complex infrastructure and
plants. Saipem has always been oriented towards technological innovation and is
currently committed, alongside its clients, on the frontline of energy
transition with increasingly digitalised tools, technologies and processes that
were devised from the outset with environmental sustainability in mind. It is
listed on the Milan stock exchange and operates in 70 countries around the world
with 32 thousand employees from 130 different nationalities.
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 considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Kristian Flaten, CFO, 29 August 2022 at CET 07:00.