Norway-headed waste plastic recycling technology developer Quantafuel AS has announced that KIRKBI A/S, the Kirk Kristiansen family’s private holding, and investment company is investing NOK 250 million (≈ EUR 23.4 million) into Quantafuel. Following the transaction, KIRKBI will hold approximately 11.0 percent of the shares in Quantafuel.
Denmark-based KIRKBI A/S is the Kirk Kristiansen family’s private holding and investment company founded to promote a sustainable future for the family ownership of the LEGO Group brand through generations, and the investment is made a private placement.
In addition to Quantafuel’s cooperation with its existing partners, BASF and Vitol, KIRKBI has entered into an agreement to invest in Quantafuel and support the company’s ambition to further improve chemical recycling and showcase how mixed plastic waste can be recycled into new high-value quality materials.
We are very satisfied to see KIRKBI joining our owner group with this investment. KIRKBI is a professional and competent investor who is characterized by a very long-term investment perspective so we are particularly pleased with the investment as it shows a very strong belief in Quantafuel for the time to come. We are aware of KIRKBI’s strong commitment to investing in technologies, that support sustainable development in the world. We are pleased and honored that KIRKBI now will invest a substantial amount in Quantafuel and thereby support us to tackle the environmental challenges with plastic waste, said Kjetil Bøhn, CEO of Quantafuel.
Following the transaction, KIRKBI will hold approximately 11.0 percent of the shares in Quantafuel. The Board of Directors in Quantafuel will call for an extraordinary shareholder meeting to propose that KIRKBI gets represented on the board of Quantafuel.
Quantafuel is an interesting investment for KIRKBI. The development of chemical plastic recycling technology has proven a great challenge. Quantafuel however, has taken an innovative and scalable approach to solve this key problem resulting in a strong business potential while ensuring high environmental impact. We believe this approach could be an important step in the transition towards a more sustainable future, said Thomas Lau Schleicher, Chief Investment Officer at KIRKBI.
