Quantafuel and Eurazeo announce joint venture for sorting plants in Denmark.
Plastics recycling specialist Quantafuel and Eurazeo have today signed a joint venture agreement for the sorting plant in Esbjerg, which will be the largest of its kind in Denmark. The agreement is subject to regulatory and competition authority approval.
Quantafuel and Eurazeo are today pleased to announce their binding agreement to develop and operate a 50/50 joint venture for a plastic waste sorting plant in Esbjerg, Denmark. A breakthrough for the plastic waste market in Denmark. The sorting plant is expected to be operational during the second half of 2023 and to significantly contribute to EU and Danish recycling targets. Today, more than 50% of Danish plastic waste is sent to incineration. With sorting, the plant will contribute significantly to reducing CO2 emissions.
To establish this joint venture, Eurazeo, through the Eurazeo Transition Infrastructure Fund, will acquire 50% of the shares in Quantafuel's wholly owned subsidiary Quantafuel Esbjerg Aps, which will develop and operate the plastic waste sorting plant in Esbjerg.
The plant will be the largest of its kind in Denmark and will consist of a state-of-the-art high-tech sorting system that separates the plastic waste into mono-fractions suitable for sale to all types of recycling facilities, including mechanical and chemical recycling.
Quantafuel's CEO, Lars Rosenløv, says:
"Today we have taken a very important step in Quantafuel's growth plans. We are thrilled to have a partner like Eurazeo, whose goal is to invest responsibly and lay the foundation for a sustainable future. The Esbjerg plant is a strong investment and this is a unique opportunity to tap into significant untapped potential in the Danish market. The partnership with Eurazeo confirms Quantafuel's increased financing capacity. As Quantafuel continues to grow, we are also expanding the sources of funding."
Martin Sichelkow, Eurazeo's Managing Director of the Infrastructure team, says:
"We are thrilled to partner with a like-minded, visionary and best-in-class company like Quantafuel, built around ESG & sustainability principles that are fully aligned with our Article-9 Eurazeo Transition Infrastructure Fund. By offering a local solution for plastic sorting to municipalities and industry, we will enable improved traceability of all waste received and processed. For current and future generations, it is crucial that industry and finance companies join forces to reduce the carbon footprint of plastic waste and contribute to a circular economy. This project is an expression of that mindset. We are proud to be part of it and hope that it is the beginning of a longer and broader collaboration with Quantafuel."
Original post on quantafuel.com.