Saipem and Quantafuel join forces to cooperate in the implementation of waste plastics recycling solutions

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.

About Saipem

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.

Website: www.saipem.com

Switchboard: +39 0244231

Media relations

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Investor Relations

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Contact point for retail investors

E-mail: segreteria.societaria@saipem.com

About Quantafuel

Quantafuel is a technology-based recycling 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.

Contacts

Astrid Mannion-Gibson

Press Contact

Head of Communications

astrid@quantafuel.com

+47 46632010