WPU opens up for expansion plansDato: 21. September 2022
“Danish player on the pyrolysis market wants to expand with franchise model”.
The headline of an article on the website CleantechWatch where chairman Niels Stielund and CEO Niels Bagge tell about the plans for expansion outside Denmark.
The plan is to use a franchise model that allows foreign investors to buy the rights to the company’s factory design and unique batch technology.
“It is the fastest way to roll out. Right now we are focused on our three Danish factories and we don’t have the resources to research local conditions in other markets. In order not to have to wait it makes sense that we leave it to people who know the conditions and local authorities to run the business in other countries”, says Niels Stielund to CleantechWatch.
He adds that WPU already has received requests from several investors who wish to build factories like the one in Faarevejle and source their technology.
The article is in Danish and behind a paywall here.
"Danish player on the pyrolysis market wants to expand with franchise model". The headline of an ...
Successful presentation at international energy conferenceDato: 16. September 2022
An exciting couple of days at Pareto Securities’ 29th Energy Conference in Oslo are over.
We had the opportunity to show our presentation and talk about our business case which we in all modesty find very attractive ourselves.
Judging by the number of questions afterwards, a lot of the attendees seemed to share our view 👍
We also had several uplifting 1:1 meetings with potential investors from around Europe.
See the full presentation here.
Here are a couple of snapshots 📸 of chairman Niels Stielund on the stage talking about WPU
An exciting couple of days at Pareto Securities' 29th Energy Conference in Oslo are over. We had ...
Chairman Niels Stielund on the batch technology, the business plan and the futureDato: 12. September 2022
Ahead of Pareto Securities 29th Energy Conference chairman Niels Stielund had a long talk with Trygg Pedersen from Pareto Securities.
They touched on several subjects concerning WPU, and Niels Stielund explained in depth the unique and robust batch technology as well as the future prospects for the company.
The uncertain times and rising prices of fossil fuels also came up.
“It’s impacting our business case in a positive way. Because as the oil prices go up, we have a higher income. And at the same time, our batch technology is special because it doesn’t use any external energy”, Niels Stielund explains in the video.
You can watch the full interview here.
Ahead of Pareto Securities 29th Energy Conference chairman Niels Stielund had a long talk with Trygg ...
WPU releases H1 reportDato: 31. August 2022
The first H1 report with results from 2022 has been published by WPU.
Just a few points worth mentioning.
1️⃣ All required construction permits granted ✔
2️⃣ Solid offtake agreement with Vitol signed ✔
3️⃣ Investments and cashflow are in line with the budget ✔
4️⃣ New Chief Technical Manager hired (welcome, Lars Juel Rasmussen) ✔
5️⃣ Structured process for securing financing for new facilities in Nakskov and Esbjerg initiated ✔
Read the full report here.
The first H1 report with results from 2022 has been published by WPU. Just a few points worth ...
Conversion of debt into new sharesDato: 25. August 2022
Vitol is converting DKK 9,750,000 of company debt to shares in WPU.
It is a move that strengthens our strategic alignment and it once again shows that Vitol is a treasured collaboration partner for WPU.
In February 2022 WPU entered into a DKK 10 million loan agreement with Vitol that gave the company the right to convert the loan to shares.
Mr Tom Baker, Head of Naphtha trading at Vitol for the EMEA region, says: ”Sustainable energy solutions are a focus of Vitol’s strategy. Plastics recycling both addresses the challenge of waste plastic and reduces emissions. Our strategic collaboration with WPU combines their technical expertise with our global trading reach, enabling Vitol to benefit from access to a future fuel and WPU to optimise the value of their product.”
The loan conversion leads to the issuance of 1,160,807 new ordinary shares to Vitol. And with the agreement, Vitol has now irrevocably waived its right to convert the remaining debt.
Vitol is converting DKK 9,750,000 of company debt to shares in WPU. It is a move that strengthens ...
Capital increase for WPUDato: 23. August 2022
Last week WPU accepted an offer for 658,979 new shares at a subscription price per share of NOK 16. That raises approximately NOK 10.5 million (DKKm 8) in gross proceeds.
The price is 30 % above the last trading price (NOK 12.3) for shares in WPU.
All the shares were subscribed by and will be allocated to one new shareholder.
Chairman of the board, Niels Stielund, says: “We are extremely delighted by the continued interest in WPU, and it just underlines that we are on the right track with our business plan. We are also pleased that this new investor identified WPU as a strategic and reasonable investment in addition to his existing investment portfolio”.
The construction of WPU’s first full-scale factory in Fårevejle is still ahead of schedule with production expected to be up and running in Q1 2023.
Read the full announcement here.
Last week WPU accepted an offer for 658,979 new shares at a subscription price per share of NOK 16. ...
WPU is certified by ISCCDato: 8. July 2022
We are pleased to announce that WPU has been issued the ISCC-PLUS-Certificate by Baltic Control Certification A/S.
ISCC – International Sustainability and Carbon Certification ISCC – International Sustainability and Carbon Certification assures a fully transparent and deforestation-free supply chain and the protection of land with high biodiversity value and high carbon stock. The ISCC standard also promotes human, labour and land rights, as well as good management practices.
Sustainability is a keyword for WPU, and we will continue to put in great effort to live up to that.
We are pleased to announce that WPU has been issued the ISCC-PLUS-Certificate by Baltic Control ...
Summer greetings from WPUDato: 4. July 2022
It is summertime and Fårevejle just had a great weekend.
The peloton of the Tour de France passed through on Saturday, and we are pleased to see the town be part of such a great event with millions of viewers from all around the world.
And now that the riders and the show surrounding the Tour de France have left Fårevejle we look forward to continuing the construction of our first factory.
When finished, we have no doubt that it will create local jobs and help strengthen Fårevejle and the rest of Odsherred Kommune.
In conclusion, a development with lots of mutual benefits for both the local community and WPU.
Have a great summer everyone 😎
It is summertime and Fårevejle just had a great weekend. The peloton of the Tour de France ...
Rome wasn’t built in a dayDato: 28. June 2022
Neither is our new factory in Fårevejle but as you can see on the latest drone footage steady progress is being made.
On what was not that long ago flat meadow is now erected big concrete walls. The factory is in other words taking shape.
We look forward to pushing the start button for the first time and start to process plastic waste. As everything is still going according to plan that will be sometime in Q1 2023
Neither is our new factory in Fårevejle but as you can see on the latest drone footage steady ...
Progress on our construction siteDato: 14. June 2022
Two and a half months since the excavators first started digging for our new factory in Fårevejle.
As you can see on the drone footage construction progresses according to plan and we look forward to seeing it up and running with full-scale production during Q1 2023.
The drone will supervise the construction site and show us pictures of the development every few weeks.
Two and a half months since the excavators first started digging for our new factory in Fårevejle. ...
Lars Rasmussen is new Chief Technical ManagerDato: 9. June 2022
We are excited to announce that we have appointed Lars Rasmussen as Chief Technical Manager of WPU.
“Lars will boost the company’s technical team with a dedicated focus on timely construction and delivery of operational facilities and bring valuable experience to WPU. He has a strong business orientation and is passionate about constructing high-performance production facilities. I am convinced that he will be valuable in securing that the company reaches it construction goals and thereby achieving its milestones” says Niels Henrik Bagge, CEO.
Lars has spent 15 years at FLSmidth & Co. A/S group. There he held positions in downstream operations, process control and successfully completed updating and re-delivery of turn-key production facilities in Europe, Asia, and Latin America.
Lars has a Bachelor of Applied Science (Mechanical Engineering).
We are excited to announce that we have appointed Lars Rasmussen as Chief Technical Manager of WPU. ...
First drone footage of the construction siteDato: 16. May 2022
Take a look. This piece of land will be where our new factory in Fårevejle shoots up.
The entrepreneurs have just started work, and we will follow the progress with our drone in the coming months.
Everything is going according to plan so far and that means the factory will be running full-scale production during Q1 in 2023.
We are very much looking forward to it.
Take a look. This piece of land will be where our new factory in Fårevejle shoots up. The ...
Two leading strategic partnershipsDato: 22. April 2022
Underlining the strong position of WPU is a new strategic partnership with Vitol, one of the world’s largest energy and commodity traders. Vitol has invested a double-digit DKK million amount in WPU and has signed a contract for purchasing all products from WPU’s three initial factories in Denmark for the next three years with an option for a further two years.
Danish consumer-owned bank Nykredit has also entered a strategic and financial partnership with WPU to secure the company a double-digit DKK million amount for funding the first upscale factory in Denmark.
WPU has also signed letters of intent with multiple feedstock suppliers to supply more than 215.000 tonnes of end-of-life plastic per year.
Underlining the strong position of WPU is a new strategic partnership with Vitol, one of the ...
Waste Plastic Upcycling A/S launches IPO on Euronext Growth in OsloDato: 22. April 2022
Waste Plastic Upcycling A/S (WPU) announced the launch of its IPO on the Euronext Growth market in Oslo, Norway on 22 April 2022.
Niels Stielund, chairman of WPU, says: “Today, our company is taking a giant step that will bring us closer to fulfilling the potential of WPU while we aim to limit the detrimental effects of incineration and dumping of plastics in landfills and the nature.
The IPO will give us a backup and allow us to position WPU in a rising market containing great prospects for the future. It is no secret that we have ambitions to expand, especially to the rest of Europe, and after meticulous testing and a long period of flawless production at our first facility, the technology is ready to be scaled up at an industrial level”.
Waste Plastic Upcycling A/S (WPU) announced the launch of its IPO on the Euronext Growth market in ...
WPU enters partnership with VitolDato: 22. March 2022
WPU has entered a strategic partnership with Vitol, one of the world’s largest energy and commodity traders.
Vitol sees great potential in WPU’s technology and is also investing in WPU.
Chris Bake, head of origination Vitol, said:
“Each year over 17 million tonnes of waste plastic is generated in the EU, recycling plastics locally minimises transport emissions and supports European chemicals businesses. We intend to be an integral part of Europe’s circular economy and are delighted to be taking this important step with WPU.”
Niels Stielund, Chairman of the Board at WPU said:
“The strategic partnership with Vitol enables WPU to continue a strong future production line. We could not have wished for a better partnership. Vitol, with its deep knowledge of the global energy markets and sustainable fuels, is in a perfect position to support us in our further development and expansion.”
Vitol has offices in 40 countries around the world, and last year the company had a revenue of 140 billion USD.
WPU turns first sodDato: 21. March 2022
On a bare piece of land WPU on 15 March turned the first sod for a new plant. It will be in operation later this year.
It is an upscale version of the plant I Egebjerg, where WPU successfully tested and refined the technology. In the end, it could process 17 tonnes of plastic waste daily, turning it into plastic oils and biogas.
The plant in Fårevejle is the first of three that WPU is planning to build in Denmark in the coming years. When the three are fully functioning in 2024, they will be able to process 159.000 tonnes of plastic waste yearly.
WPU has ambitions to expand internationally as well.
Chairman Niels Stielund and CEO Niels Bagge turns first sod in Fårevejle.
On a bare piece of land WPU on 15 March turned the first sod for a new plant. It will be in ...
Fire at the factory in EgebjergDato: 11. October 2021
On Friday morning, October 8, 2021, a large fire broke out in our warehouse of waste plastic at the factory in Egebjerg. Fortunately, no one was injured.
The emergency services and police, together with the Danish Emergency Management Agency, gained control of the fire during the morning.
The police and the Danish Emergency Management Agency are currently working to find the causes of the fire. From WPU, we have initiated an independent investigation, and we expect to know more about the cause before the end of the week.
On Friday morning, October 8, 2021, a large fire broke out in our warehouse of waste plastic at the ...
WPU is Building 3 New FactoriesDato: 21. September 2021
WPU has made contracts for the construction of three new factories to produce oil from waste plastic. The last factory will be ready in 2024, and when production is up and running, WPU will potentially save our society 300,000 tonnes of CO2 emissions per year.
The first factory will be built in Fårevejle and have six new pyrolysis reactors. Next, the two factories will be located in respectively Nakskov and Esbjerg each having 12 reactors. The location at the dock is not randomly planned, as several of the major buyers of the oil made from plastic waste will have it delivered by ship.
When the three new factories are in full production, they will create approximately 140 new jobs. WPU expects to continue to expand with new factories in Germany, Norway and Sweden.
WPU has made contracts for the construction of three new factories to produce oil from waste ...
WPU shoots for the MoonDato: 24. August 2021
Business Hub Zealand has just appointed Waste Plastic Upcycling among the regions most promising companies – with the potential to reach a turnover of one billion Danish kroner.
This means that WPU is part of the exclusive project “Man on the Moon”, which offers a tailor-made development course for the region’s most promising companies.
“We are pleased that Business Hub Zealand sees great potential in our company and technological solution that can prevent the incineration of plastic waste. We look forward to being part of the project,” explains CEO Niels Bagge.
“Man on the Moon” is a strategic collaboration between Business Hub Zealand, Copenhagen Capacity, DTU, RUC, Absalon, the business academy Zealand and of course the 20 nominated companies. The goal is to create the large companies of the future in Region Zealand.
Business Hub Zealand has just appointed Waste Plastic Upcycling among ...
Results from ongoing production exceeds expectationsDato: 6. August 2021
The good news is pouring out from the Waste Plastic Upcyclings (WPU) facility in Egeberg, Denmark.
After a period of testing, WPU has been in stable and continuous operation the last couple of months. And the results do not only live up to expectations – on different levels the company performs better than you would have dared hoping for.
“The latest analyses show that our utilization rate is significantly higher than expected and shows us that we are dealing with a technology with great potential to revolutionize our management of waste plastic,” Niels Bagge, the administrative director of WPU, explains.
The production at WPU’s facility in Egebjerg has the capacity to manage 17 tonnes of waste plastic each day. The waste plastic is transformed into 12 tonnes of plastic oils and 4.25 tonnes of pyrolytic gas.
The facility can virtually handle all types of plastic and leaves no environmental hazardous residues. Furthermore, the entire facility runs on the energy which comes from the process itself which means the production is 100 % circular.
The great results are also reflected in the customers who are ready to buy WPU’s plastic oils. WPU has thus entered into agreements with clients in Denmark and abroad who work with both plastic manufacturing and fuel production.
The good news is pouring out from the Waste Plastic Upcyclings (WPU) facility in Egeberg, Denmark. ...
Egebjerg company is moving forwardDato: 21. June 2021
WPU has advancing plans about constructing a plant in both Esbjerg and Nakskov in Denmark, and it advances quickly to get them approved by Business Hub Zealand who has appointed WPU to one of the 20 so called “man of the moon” companies.
WPU has advancing plans about constructing a plant in both Esbjerg and Nakskov in Denmark, and it ...
New certificate proves sustainable productionDato: 11. June 2021
Waste Plastic Upcycling (WPU) has just now obtained ISCC certification of the company’s production in Egebjerg in Denmark.
A ISCC certification is also called a sustainability certification. The certificate is issued by Baltic Control Certification and testifies that the entire production flow lives up to the organization’s strict sustainability requirements.
“It is an important step in our efforts to show that WPU lives up to the highest of the international standards for sustainable production. And after having worked long and hard to obtain the necessary documentation, we are now happy to have the certificate,” Niels Bagge, the administrative director of WPU, explains.
However, WPU is not the only one who has obtained the highly demanded certificate. Many of the company’s main partners have obtained said certificate. This means that WPU can guarantee a sustainable production across the entire production chain.
“Now we are able to document to the rest of the world that we even more so now live up to our purpose; to bring new life to plastic waste and create sustainable balance in the productions,” Niels Stielund, chairman of the board in WPU, explains.
Waste Plastic Upcycling (WPU) has just now obtained ISCC certification of the company’s production ...