BASF Invests EUR20 Million in Quantafuel to Recycle Chemicals
October 07 2019 - 8:32AM
Dow Jones News
By Kim Richters
BASF SE (BAS.XE) said Monday that it is investing 20 million
euros ($22 million) in Norway-based Quantafuel AS (QFUEL.NO), which
makes fuels and chemicals out of plastic waste.
BASF and Quantafuel will collaborate on technology for chemical
recycling, with Quantafuel planning to license the developed
technology to customers in the future, BASF said.
The chemical giant said it will receive the right of first
refusal for chemically recycled products such as pyrolysis oil from
Quantafuel's plant in Denmark for at least four years. The site is
to start operations in the fourth quarter of this year.
BASF's investment in Quantafuel will be through new shares and a
convertible bond.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 07, 2019 08:17 ET (12:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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