Fifth admission of 2022 on Euronext Growth Oslo bringing the total number of companies up to 122
Market capitalisation of approximately NOK 711 million
Oslo – 22 April 2022 – Oslo Børs, part of Euronext Group, today congratulates the Danish company Waste Plastic Upcycling A/S, which converts plastic waste into ISCC certified oil, on its listing on Euronext Growth Oslo (ticker: WPU). This is the fifth admission to Euronext Growth Oslo so far this year, bringing the total number of companies up to 122. This is the seventh listing at Oslo Børs in 2022.
With the help of robust batch pyrolysis technology, Waste Plastic Upcycling converts plastic waste into valuable products to be used in the production of sustainable plastic oil, which can be used for jet fuel, heavy transportation, and the production of new plastics. The company was established in November 2020, and has three planned production facilities ready to be constructed in Denmark with a total capacity to process 159,000 tonnes of plastic waste annually.
The admission and issue price of Waste Plastic Upcycling shares was set at NOK 15 per share. Market capitalisation was approximately NOK 711 million on the day of listing. The company raised NOK 27.3 million through a private placement before the admission.
Niels Bagge, CEO of Waste Plastic Upcycling A/S said: “The strategy and main goal of Waste Plastic Upcycling A/S (WPU) is to upcycle end-of-life plastic waste by using pyrolysis technology to transform the waste to reusable upcycled plastic oil. The listing of the company on Euronext Growth Oslo creates an attractive platform for further expansion, especially in the European market, and is an important step in the company's growth strategy and value creation going forward. WPU is well positioned in the growing market for plastic pyrolysis within the waste plastics industry, and we look forward to continue to realise the company's strategy and main goal together with our investors, as a listed company on Euronext Growth Oslo.”