Letter from the CEO (English version)
Earlier this week, personnel from Cassandra Oil started the dismantling of CASO 600 in Jerez in southern Spain. The transport and reassembly of the plant in Denmark will take place during September. We expect that oil recovery from waste tires will start at the site in Fredriksverk during the autumn of 2019.
The main reason for the move is the ability to start production of renewable oil as quickly as possible, and the new location will mean easier logistics and more cost effective operations. Another major advantage is the compensation of up to DKK 2.1 per kg of waste tires received for recycling, provided by the Danish municipality.
Reaktor ApS will be responsible for all costs relating to the relocation and assembly of the CASO 600 plant from Jerez to Fredriksverk.
The CASO 600 processing plant from Spain, to be installed in Denmark, will replace the latest version of CASO 600 machines that was ready for delivery in 2017 but was destroyed in the fire accident near the workshop in Sweden. The plant in Denmark will be updated successively to specification of the latest generation CASO 600.
Reaktor ApS intends to extend the environmental permit to include plastic recycling .
Cassandra Oil AB has recently completed a rights issue of convertible debentures and hereby announces that 24,814 convertibles have been subscribed and allocated in the issue. The company has been allocated SEK 2,481,400 before admin charges.
In the currently economic situation the board has decided to abolish the forthcoming, and subsequent, quarterly reports in order to reduce expenses, until further notice. General updates are published via the news feed on our website and to all subscribers. We would like to advice all interested parties to subscribe to our news in Swedish (click here) as well, in order to not miss any updates. We would also like to invite anyone interested to follow us on Twitter.
Furthermore, we are in discussions with various stakeholders and potential customers, both established relations and new ones. The plastic debate in the media is a hot topic and the pressure on producers and waste handlers is increasing. In Europe, large parts of household plastics end up in incineration or landfill due to the difficulties of recycling mixed polymers or plastics mixed with other materials. Cassandra Oil provides a recycling technology where the plastic waste streams don’t need careful sorting or separation from small amounts of labels, paper or metals. In a circular economy all hydrocarbon-based waste is recycled for production of new products, and thereby reducing the dependence on crude oil.
We look forward to a productive autumn.
Anders Olsson, CEO
For further information, please contact
Mr Anders Olsson, CEO Cassandra Oil AB
Phone: +46 76-16 32 100