New members join the Board of DirectorsDato: 22. September 2023
The announced extraordinary general meeting of shareholders took place today at the Clarion Hotel Copenhagen Airport.
Shareholders representing more than 80 percent of the issued share capital of WPU were present. The Board of Directors appointed attorney Klaus H. Lindblad as the chairperson of the meeting.
The following candidates for the Board of Directors were unanimously voted in:
• Mr. Tom Baker
• Mr. Eduard Ruijs
• Mr. Jérôme Schmitt
Former members of the board of directors, Niels Albertsen, Sven Petersen, and Anders Bloch, resigned. The chairperson expressed gratitude for the valuable help and assistance provided by the resigning board members to WPU.
The Board of Directors will now consist of the following members:
• Mr. Niels Stielund
• Mr. Tom Baker
• Mr. Eduard Ruijs
• Mr. Jérôme Schmitt
• Mr. Klaus Lindblad
The announced extraordinary general meeting of shareholders took place today at the Clarion Hotel ...
WPU at Pareto Securities’ Energy ConferenceDato: 21. September 2023
Waste Plastic Upcycling A/S´ Vice-Chairman of the board of directors Klaus Lindblad today held a presentation at Pareto Securities’ 30th annual Energy Conference in Oslo.
The conference hosted more than 170 companies and 2000 attendees, and it is the biggest of its kind in the world.
See the full presentation here.
Waste Plastic Upcycling A/S´ Vice-Chairman of the board of directors Klaus Lindblad today held a ...
Braskem will use WPU productDato: 13. September 2023
Our partner Vitol has entered into an agreement with the international conglomerate Braskem. The agreement entails that Vitol will supply Braskem Netherlands B.V. with oil produced at WPU’s facilities in Denmark.
The oil will be used to create new plastic materials and will become part of Braskem’s Wenew ecosystem, focusing on aspects such as circular design.
By 2030, Braskem plans to sell 1 million tons of products made from recycled material and to collect 1.5 million tons of plastic from the environment.
Niels Stielund, chairman of the board for WPU, is pleased to see WPU’s product becoming part of an ambitious plan with a major player like Braskem.
“The agreement with Braskem is an important step for us. The fact that a world-renowned actor like Braskem is now going to use our raw material is a milestone for us and a recognition of our unique technology. It also emphasizes how end-of-life plastic can be a valuable resource in a circular process instead of ending up in incinerators or landfills. So, we are humbled and delighted to embark on this journey together with Braskem and Vitol,” he says.
The collaboration marks a significant development in WPU’s efforts to promote sustainable solutions in plastic waste management.
Read the full statement from Braskem here.
Our partner Vitol has entered into an agreement with the international conglomerate Braskem. The ...
Organizational changesDato: 30. August 2023
Thomas Åberg has been promoted to form part of the daily management and will report directly to the board of directors starting September 1.
By this promotion, we improve our financial reporting capabilities and prepare for the upcoming construction process in Nakskov, where the facility will be fully operational in 2026.
Thomas will build a new department that will also include reporting on environmental, social and governance (ESG) and human resources (HR).
Furthermore, Co-CEO Lotte Rosenberg has decided to move on to new endeavours beyond WPU.
Going forward, Vitol will take on a more active role in our international expansion plans, providing us with access to new resources and a global network.
We are grateful to Lotte for her significant contributions in shaping the WPU business strategy and wish her a successful career ahead.
The organizational changes will not affect our company’s long-term business strategy.
Thomas Åberg has been promoted to form part of the daily management and will report directly to the ...
Vitol invests in WPU – Waste Plastic UpcyclingDato: 31. July 2023
We are pleased to announce that Vitol has acquired an additional 7,668,712 shares in our company from existing shareholders. It increases its shareholding from approximately 9.4 % to 24.7 %.
By further deepening our ties with Vitol and at the same time bolstering our financial situation we are ready to roll out the next phases of our business plan.
Chairman Niels Stielund says: “The advantage and possibilities for WPU with the additional strengthening of the Vitol ownership and cooperation cannot be understated.”
Tom Baker, Vitol’s Head of Naphtha, says: ” We have been impressed with what the WPU team have achieved to date and our involvement will continue to add value in developing the business.”
Other takeaways from our new agreement with Vitol:
– The offtake agreement has been renegotiated, granting Vitol the right to offtake all WPU products.
– The selling shareholders will reinvest 6,7 EURm to partially fund the next WPU facility in Nakskov, Denmark.
– The duration of the delivery contracts with Vitol have been extended to ten years from each facility.
We are pleased to announce that Vitol has acquired an additional 7,668,712 shares in our company ...
More productions lines ready after successful testsDato: 31. July 2023
We have finalized cold and hot tests and initial upcycling test cycles of reactor lines 2 and 3. All tests ended successfully, and we are now able to produce plastic to liquid (PtL) also using line 2 and 3.
Next step is a group of test cycles where we will test line 1, 2 and 3 – called Train 1 – together, to check the common production infrastructure for all lines.
We expect to finalize testing of the entire Train 1 by the end of the summer holiday, whereafter all 3 lines in Train 1 will be ready to operate together.
We have finalized cold and hot tests and initial upcycling test cycles of reactor lines 2 and 3. All ...
Delivery of first Plastic to Liquid (“PtL”) to VitolDato: 23. June 2023
We are pleased to announce that WPU has made its first delivery of PtL. This marks a key milestone for WPU in its mission to reduce the negative environmental impacts of end-of-life plastic waste.
Under the offtake agreement between Vitol and WPU, Vitol is granted the right to procure and redistribute PtL that is produced using the WPU advanced upcycling technology.
Global Head of Naphtha trading at Vitol, Tom Baker, commented, “We are extremely pleased with the successful delivery of the first WPU PtL that will be delivered to one of our long-term global customers in the chemical industry. We have been a strong supporter of WPU in their efforts to develop a sustainable and cost-effective upcycling solution for end-of-life plastic waste and are proud to have been part of this achievement. We look forward to continuing our collaboration in the years to come and to the further expansion of PtL production.”
WPU – CEO Niels Henrik Bagge said: “In WPU, we are looking forward to continuing our work with Vitol in promoting the sustainable WPU technology solution to reduce plastic waste pollution. In doing so, we can help create a cleaner and healthier future for everyone. We thank Vitol for their continued support in this effort.”
We are pleased to announce that WPU has made its first delivery of PtL. This marks a key milestone ...
WPU is granted end-of-waste statusDato: 6. June 2023
Odsherred Municipality has granted environmental approval for the pyrolysis of plastic to WPU – Waste Plastic Upcycling on March 28, 2023.
The following conditions, according to section 6 of the Waste Management Regulation, have been assessed as fulfilled:
- The substance or object must be used for specific purposes.
- There is a market for or demand for such a substance or object.
- The substance or object meets the technical requirements for the specific purposes and complies with applicable laws and standards regarding products.
- The use of the substance or object does not have general negative impacts on the environment or human health.
Regarding WPU’s process, Odsherred Municipality states:
”Technically, the oil (WPU’s product) resembles crude oil or other oils extracted from it. The oil has an EC number 948-982-9 and the following technical name: ‘hydrocarbons from mixed waste plastic; thermo-mechanical depolymerization condensate.’
It does not belong in nature but is handled in closed loops. The further refining of the oil takes place in environmentally approved facilities. From there, the refined oil is sent for other commercial uses.”
Odsherred Municipality has granted environmental approval for the pyrolysis of plastic to WPU - ...
Optimization process going according to planDato: 1. June 2023
Update from Fårevejle in numbers:
- 11 batches completed
- Oil yield around 80 % (well above the expected)
- More than 33 tonnes of oil produced
Still, the process of optimizing the production line is in full swing, testing for different feedstocks and temperatures.
Soon, the next production line will be commissioned to improve the logistics and confirm the facility capacity.
Once the first three lines are optimized the three remaining production lines will be ramped up quickly and make sure we hit full production in Q4 this year.
In other words, everything is going according to plan.
Chairman Niels Stielund went on Pareto TV this week and gave a short presentation of WPU’s progress and business strategy and participated in a Q&A with the host Kari Eide Hartvedt from Pareto Securites.
Niels also touches on the financing for the next two factories in Nakskov and Esbjerg and how it is almost in place.
Watch the full interview below.
Update from Fårevejle in numbers: 11 batches completed Oil yield around 80 % (well above ...
Practical arrangements discussed with VitolDato: 9. May 2023
During the visit, we discussed the practical arrangements for Vitol’s collection of the first tank trucks of pyrolysis oil. A lot will be coming and going when all six production lines are up and running in Q4 this year.
Mr. Baker says: “Meeting the timeline for construction of the Fårevejle facility is a notable achievement. Vitol believes that the WPU proprietary process technology will make a significant impact in the future plastic waste upcycling industry.”
Our oil product is upcycled from old waste plastic and the oil can – among other things – be used in the production of new plastic.
Vitol is a valued partner who have agreed to purchase all production from our first five factories. We look forward to continuing our collaboration and play our part in handling the huge amounts of end-of-life plastic that otherwise gets incinerated or ends up on landfills.
Last week we welcomed Mr. Tom Baker, Global Head of Naphtha Trading at Vitol, to our Fårevejle ...
Satisfying upcycling conversion rateDato: 2. May 2023
After a meticulous process, we are close to having fine-tuned the first of our six production lines.
The result is uplifting, and our system really shows its potential. Last week we had a yield (oil output compared to the amount of plastic waste) between 76 % and 84 %.
It’s above previously achieved levels and an upcycled conversion rate of around 70 % is in accordance with expectations.
The uplifting numbers are mainly a result of the design upgrades on the reactors implemented earlier this year. We’ll continue to adjust and optimize the process and when we are satisfied, we move on to the next production line to do the same.
We are still planning to have a fully functioning factory in Fårevejle with all six production lines up and running at full speed in Q4 2023.
After a meticulous process, we are close to having fine-tuned the first of our six production lines. ...
WPU produces first oil at Fårevejle facilityDato: 14. April 2023
We couldn’t be happier!
Yesterday we completed a full process cycle and produced plastic oil liquid on our production line 1 in Fårevejle 💪
CEO Niels Bagge and the rest of the team in Fårevejle have been working their socks off to succeed, so to see the first oil was a joyous occasion that brought cheers and big smiles to their faces.
“We’ve been working hard to diligently deliver on promises in respect to the timeline, so today’s milestone is a great accomplishment,” Niels Bagge says.
Now, we are going to gradually start running the remaining 5 production lines, and the facility in Fårevejle is expected to to be cash positive from Q3 and fully operational by Q4 this year.
We couldn't be happier! Yesterday we completed a full process cycle and produced plastic oil ...
WPU recruits Lotte Rosenberg as co-CEODato: 17. March 2023
We are pleased to announce that Lotte Rosenberg from April 1, 2023 will join the executive management team of WPU as co-CEO.
Lotte Rosenberg will report to the Board of Directors and be responsible for the roll-out of the international growth strategy of WPU which is of primary focus.
Lotte Rosenberg has a background as senior vice president at Ørsted and Chief Commercial Officer at Nature Energy at which her primary focus was growth strategy, expansion activities, identifying relevant partnerships and setting up organizations in Northern Europe and North America.
Chairman of the Board of Directors Niels Stielund: “WPU is pleased to welcome Lotte to the management board. Lotte will bring significant and valuable “hands on” knowledge and experience on how to implement the international growth strategy of WPU. Building and installing our Fårevejle facility in appx. 12 months demonstrates the scalability of the WPU batch technology and underlines why it is peer-leading in respect of low CAPEX, high Capacity and fast-paced construction.”
CO-CEO Lotte Rosenberg: “ I am very excited to join WPU and to lead their international growth journey focusing on sustainably converting End-of-Life Plastics into chemicals and energy.”
WPU CEO Niels Henrik Bagge’s engagement remains unchanged with a dedicated focus on the optimization and implementation of the WPU – Technology and the rollout of WPU-Facilities in Fårevejle, Nakskov, and Esbjerg.
WPU CEO Niels Henrik Bagge: ”The extra commercial resources that Lotte brings to WPU will support that the milestone results accomplished in Fårevejle can be executed on an international scale. “
We are pleased to announce that Lotte Rosenberg from April 1, 2023 will join the executive ...
Successful presentation at energy conferenceDato: 1. March 2023
WPU was invited to make a presentation of the company at the Pareto Securities‘ 25th Annual Power & Renewable Energy Conference in Oslo on the 28th of February.
Chairman Niels Stielund was on the stage and really enjoyed the positive response from the audience.
“People are beginning to understand that our batch technology is what makes us stand out. And with the lowest CAPEX and highest factory capacity on the market, our technology and economic possibilities are being noticed all over the world”, he says.
The conference hosted more than 60 presenting companies, covering all areas in the renewable energy and clean-tech space, including hydropower, on- and offshore wind, solar, battery, CCS, hydrogen and waste-to-energy.
The presenting companies were chosen for their potential and ability to be frontrunners in the energy transition from oil and gas to renewable energy sources.
WPU was invited to make a presentation of the company at the Pareto Securities' 25th Annual Power ...
Additional sale of pyrolysis oil adding approx. MEUR 55 – 70 in added revenue and MEUR in 45 – 60 in added EBITDA on a yearly basisDato: 10. February 2023
WPU – Waste Plastic Upcycling A/S is pleased to announce to have finalized an expansion of scope of the existing offtake agreement with Vitol.
To meet the demands from customers Vitol has purchased the pyrolysis oil from two additional WPU pyrolysis oil plants in addition to the Danish facilities. Consequently, WPU has now sold all pyrolysis oil from the first 5 facilities that upcycle plastic waste by use of the WPU technology.
WPU expects that the locations of these additional WPU facilities will be outside Denmark but within the EEC and that the construction of the new facilities will be finished by the end of 2026.
Construction of the two facilities is expected to add approximately MEUR 50 in added CAPEX during the period of construction and equipment installation and until in full production. Once the two additional facilities are constructed and in full production it is anticipated that the two facilities will add appx. MEUR 55 – 70 in added revenue and MEUR in 45 – 60 in added EBITDA on a yearly basis.
Tom Baker, Global Head of Naphtha trading at Vitol comments: “ Vitol is committed to building a sustainable energy business for the future. Securing pyrolysis oil from WPU is an important step for fulfilling the strong demand for these products.”
Niels Stielund, Chairman of Waste Plastic Upcycling A/S comments: “Expanding the scope for the Offtake agreement for future facilities and crystallize the foreseeable economical outcome of future operations will empower WPU in the negotiations regarding future financing of facilities.”
WPU - Waste Plastic Upcycling A/S is pleased to announce to have finalized an expansion of scope of ...
WPU to broaden Research and Development cooperation with VitolDato: 6. February 2023
WPU – Waste Plastic Upcycling A/S has welcomed an initiative of Vitol to engage in negotiations of a deeper vertical research and development of the WPU proprietary technology. The aim of this research and development will be to further broaden the product palette offered by WPU and enrich the subsequent treatment by Vitol creating more valuable products.
The Research and Development cooperation may include construction of an upcycling facility based on WPU proprietary technology but financed by Vitol. WPU welcomes this initiative and looks forward to the negotiations and will update on significant developments.
Tom Baker, Global Head of Naphtha trading at Vitol comments: “Meeting the timeline for construction of the Fårevejle facility is a notable achievement. Vitol believes that the WPU proprietary process technology will make a significant impact in the future plastic waste upcycling industry.”
Niels Stielund, Chairman of Waste Plastic Upcycling A/S comments: “The strength and power of the Vitol – WPU cooperation has once again demonstrated its value. The WPU technology with its Low CAPEX and High Capacity is very suitable for fast scaling to match the global presence of Vitol”.
The first plastic waste has arrived in Fårevejle
The first trucks with plastic waste have arrived at the WPU Fårevejle facility – ready to be upcycled as it is. The entire pallets can be loaded directly into the WPU Batch system as it is, including steel bands and wrapping material.
WPU´s circular Batch process can upcycle dirty consumer- and industrial plastic without any special pre-treatment and with a huge saving of CO2 compared to incineration – for a greener World.
WPU – Waste Plastic Upcycling A/S has welcomed an initiative of Vitol to engage in negotiations of ...
WPU is awarded “Most Innovative Plastic Waste Conversion Firm”Dato: 7. December 2022
Waste Plastic Upcycling A/S is pleased to announce that we are awarded : “Most Innovative Plastic Waste Conversion Firm 2022-2023“ by the independent publication “International Investor Magazine”.
Niels Stielund, Chairman of the Board says:
“The Board of directors is very proud of this independent international recognition of the great work of WPU. I wish to acknowledge everybody who has contributed to our journey this far. First and foremost, our employees, management, investors and cooperation partners such as Pareto Securities, Vitol and Nykredit. “
The official announcement of WPU as an award-winning company will be in January 2023 in the edition of the magazine distributed at the World Economic Forum in Switzerland.
It’s the subscribers of International Investor that nominate financial institutions and listed companies, but the winner is picked by experienced business journalists and judges that go through a wide range of criteria and research.
Waste Plastic Upcycling A/S is pleased to announce that we are awarded : “Most Innovative Plastic ...
New pyrolysis oven has arrivedDato: 8. November 2022
Fired up 🔥 and ready to go!
Or at least soon we will be. Yesterday the first pyrolysis ovens were delivered at the Fårevejle site completing our first two fully automated production lines.
Now the technicians will do their part, and when the ovens are installed and fired up a new chapter of plastic waste management begins.
Our circular process ensures a limited CO2 footprint compared to other forms of incineration used today.
We are excited and still expect to be running full production in Q1 2023 as planned.
Fired up 🔥 and ready to go! Or at least soon we will be. Yesterday the first pyrolysis ovens ...
Getting closer to the finish lineDato: 14. October 2022
If you haven’t been to Fårevejle lately, here is an update on our factory:
It is going brilliantly 💪 and it hardly resembles a construction site anymore.
This week KT Erhvervsbyg A/S handed us the keys to the office building, so now all we need to finish is the production lines – and it won’t take long either.
Have a look around for yourself. You’ll see our storage tanks, our new office and a happy Niels Bagge.
If you haven't been to Fårevejle lately, here is an update on our factory: It is going ...
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 has entered a strategic partnership with Vitol, one of the world’s largest energy and ...
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 the regions most promising ...
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 ...