Cassandra Oil closes plant sale to REAKTOR APS.

A subsidiary of REAKTOR APS, a company registered in Denmark, and Cassandra Oil AB (Cassandra) registered in Sweden, has on the 24th of September signed a Sale and Purchase Agreement for one CASO processing plant, at a price of €4.5millon (SEK 42.8 million). The first instalment payment of €2.0 million (SEK 19.1 million) shall be made to Cassandra before the 25th of October 2017. The delivery of the processing plant will take place in the early part of 2018. 

The processing plant will be located in Fredriksvaerk, Denmark, for the purpose of recycling of discarded tires.

-        We are very happy to have reached this agreement with REAKTOR APS, a well-established recycling company, with many years of experience in pyrolysis technology. We are looking forward to this important development in parallel with our ongoing guaranteed right issue. It marks a positive milestone for the company’s future, says Anders Olsson, Cassandra Oil CEO.

REAKTOR APS has been involved in recycling and pyrolysis for many years and have established waste streams as well as customer agreements for end-user products.

-        We find Cassandra’s technology outstanding regarding capacity and safety. I have indeed never seen anything as impressive as the CASO technology, says Flemming Jørgensen, CEO at REAKTOR APS.

For further information, please contact

Mr. Flemming B. Jørgensen, REAKTOR APS +45 40501314 or

Mr. Anders Olsson, Cassandra Oil AB +46 761632100


This information is information that Cassandra Oil AB is obliged to make public pursuant to the EU
Market Abuse Regulation and the Security Markets Act. The information was submitted for publication, through the agency of contact person set out above, on September 25, 2017.
 

For further information, please contact
Anders Olsson, CEO
Phone: +46 76 16 32 100


Cassandra Oil is a Swedish company which, with the help of new technologies, recoveres oil from hydrocarbon-containing materials, such as used tires, plastic waste, oil sludge, waste oil and, eventually, oil sands, oil shale and electronic scrap. Cassandra Oil's share is listed on Nasdaq First North, Stockholm with the short name CASO with Remium AB as Certified Adviser. The number of shareholders is about 8000. 

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