Good morning, everyone, and welcome to this first quarter report presentation with Quantafuel. We have looked forward to this day for many reasons. One of them is that many of you have contacted us lately, numerous requests on a daily basis for more information and more precise information from Skive. We do understand your frustration, especially after this large block trade, but it's important for us to say that we cannot comment on these things, these type of speculations. It's been a pleasure then that we have come to the day where we present our first quarter report as planned. First of all, last quarter report, we said that we had two goals for the next period. One of them being to run parallel lines, and the second was to get up to full capacity. It's a pleasure for us to be able to say that we reached those targets during the last period. We have been able to increase the ability in Skive, run lines in parallel, and also then reach full capacity on one line. We also started in this quarter to ship products to BASF in Germany, and by the end of the day, of course, that is what we are doing. We are producing oil that is going to become new plastic. It's also a pleasure to be able to tell you that we now have started to run with plastic in Kristiansund. It's been a period where it's been difficult to get people and equipment in and out of countries, but finally, we were able to run plastic also in Kristiansund. Here the other day, we were running about 300 kg/ h of plastic. It might not sound that much, running 625 kg/ h, but in Skive and 300 kg/h in Kristiansund, but if you look at it a different way, 625 kg is the same as 73,000 grocery bags in one hour. It's a lot of plastic, remembering that plastic is very light. We also now have started to firm up our rollout plan for Europe. We signed also now lately an agreement with our long-standing partner, BASF, and our new partner, REMONDIS. We're now going to start looking at building our first plant together, and we're now looking at Germany, which, of course, could be expanded to other countries. We have also, in recent time, announced that we have entered into a partnership with Corepla. Corepla is the organization that Der Grüne Punkt in Germany and Grønt Punkt Norge, they're similar in for Italy, that handles all the packaging material for Italy, and Saipem, one of the largest EPC companies in the world. We have also, during the quarter, acquired 40% of Geminor, a Norwegian company with a presence in 11 European countries, close to EUR 200 million in revenue. This is a very important investment for us because it completes our value chain. We take control of our feedstock, and we're capable of tracking our entire value chain. We will get back to why we believe this is very important for us. We have received a certification for material recycling. We believe this is extremely important because we believe that all consumer goods company, when they receive recycled material, will require to have a proof that this material has actually been recycled and is coming from waste. We find that fundamental for doing business, and we're very happy that we, after a long time, were capable of getting these certifications. We would also like to say, we know there's been a number of different rumors lately, but we would like to remind everyone that we're in very strong financial position. We raised NOK 600 million in September. We still have, by the end of the quarter, NOK 573 million in our bank account, and we are in control of our destiny. We have the finance needed to do what we plan to do for the coming period. I would like to also present to you, I have two of my colleagues here, Terje Eiken, who started with us in September from TechnipFMC. Terje has a long track record from Norwegian industry and now is in charge of our technical department operations. Then Christian Lach just recently also joined us from BASF, has been in BASF for 22 years, and for the last couple of years, also been responsible for chemical recycling. They will be with me during this presentation and also for the questions later on. We are now up and running with two plants. We hope that this will be much more in the future. A couple of things that we want to highlight, what we are actually doing. As some of you might remember, we actually operated a batch facility already three, four years ago, and we produced high-quality diesel and also actually naphtha at that time. It was used to run cars. It's still in use to run tractors here in Norway. We dismissed this batch process because we believe that if you're going to do this in a large scale, in industrial scale, you need to build a continuous process, and that is what we are doing in Skive. We are building a process that is expected to run 24/7, taking 73,000 grocery bags per hour on four lines. It's a large and complex chemical process plant, and it takes some time to get up and running, but we are very happy that we have reached our targets lately and have a good progress. It's also, as you might have heard me say many times, it's about the quality of the products. Because if you're going to be certified, if you're going to produce plastic, you need to produce a product that can go as directly as possible to our partner, BASF, and others in the future that can turn this to plastic in an efficient process. Skive is one of the larger plants that are existing. It's by far the most advanced, but still it's quite small compared to what we want to do in the future. It's about scalability, repetition, and our strategy, as you know, is to take this and scale it up to large-scale plants that we're going to roll out in Europe, and we have been working on that together with Lummus now for almost a year. Finally, it's about integration. You cannot have this plant standing alone. It needs to be integrated with the whole value chain. You need to know where your raw material is coming from, how it's transported, how it's going to the next step, and what it becomes. We have been working on that and taking several investments to complete that integration. I'm going to hand over to my good colleague, Terje, here, but first we're going to run a small video. Enjoy. Good morning, everybody. Kjetil, thank you for a nice introduction. First of all, I would like to say we have a very, very good HSE performance in Skive. We have no recordable incidents, and we have the very clear target that everybody walks home safely every day. We had a great day in Quantafuel and in Skive when we reached at 625 kg/h for the first time. This was a high-hanging target, and we were really celebrating the day after. This was not only about the load of 625 kg/h, it was also about getting the right chemical balance, and we saw that the promised ratio between gas and oil was exactly what the process gave us. This was the second thing to celebrate. We have also, as Kjetil mentioned, we are now able to operate two lines in parallel. This might not be seen as a big step forward, but for us it's a really important step towards operating four lines, an important proof of, let's say, the process and how it's engineered that we can go from one to two and then from two to four. What we do now every day is to focus on eliminating the weak links in the chain. We make key components redundant, we change to more robust equipment. We tune and robustify the control system. This is important because it's a complex process. There are a lot of things to watch and monitor and control. It's important to make a control system which makes the day for the operators as easy as possible. This is an important part of what we're doing. All these efforts are for one big reason, and that is to get to the proof of concept, and we remain confident and trust in reaching this goal in Q2, now in May or June. Next slide, please. The next big target are the modification targets, which are now running and are planning to implement in next quarter. They're all made to enable us to go from two to four lines in operation so that we can get the full production. An important thing is also to focus on the particles in the pyrolysis oil, which we need to remove to avoid clogging of the system, which will then hamper the availability of the process and then the stability of the production. We are focusing on the process and chemicals. We are learning a lot about the key process parameters. This is about pressure and temperature and how to tune the process and the control system in an optimal way so that we have a process which is easy to control and which is delivering the right chemistry every day, every week, every month, the whole year round. I would also like to underline and give credit to the very good cooperation we have with our partner, BASF. They have a team mobilized to support us in Skive, and we are working together every day, using their experience from other plants to optimize Skive and to do the right changes so that we in Q3 are ready to go to full production. This is a really important thing for us to have BASF on the team. As stated in Q1's report, the cost estimates are unchanged, so the CapEx remains stable. That is what's important. We also mentioned in the Q1 report that we are getting a lot of questions about details. Remember one thing, the details, what we are learning every day in Skive is an important part of our IP. To protect the IP is also important for you shareholders. That's the reason why we don't want to elaborate on all the fine details. We keep them inside the company, building the IP, and thereby also building value for the shareholders. Next slide. In Kristiansund, we had a challenge, and Kjetil also mentioned that because of the pandemic and the COVID-19, which is making it very hard to get people into the country. It's restricting traveling, and that has delayed our progress. Hence it was a great day when we managed to stabilize the reactor, the control system, get it up and running, and feed it with plastic for the first time. It's done very well, and Kjetil also mentioned that we are up to 300 kg/h, which is a good achievement so early in this testing. Now we are learning every day more about the [audio distortion] of this new equipment. All the testing will give us the information and the parameters we need to design and engineer the permanent plant, which will then be in operation later. In parallel, we are expanding the mechanical line and the full capacity line will be ready in Q4 this year. It can handle approximately 5,000 kg/h. It can take the most difficult waste stream, which is today is incinerated or burned or brought to landfill, and recycle it to a very large extent. This is an important step. When we have the chemical and the mechanical line in Kristiansund up and running, Kristiansund will be the place to look to with mechanical chemical recycling, providing a recycling percentage which is second to none. This will be a world-class plant in the future. Thank you. I have it handed back to you, Kjetil. Thanks a lot, Terje, for that update. This is what it's all about, the circular plastic economy. We started, as we said, to send products to BASF now early this year. They also announced that they now started to deliver to Gaggenau Kitchen, which is a fashionable kitchen. There's going to be many more of those applications. That is really what it's all about. That we can take household waste from Oslo, from Copenhagen, from other places, people sorting at their homes. Back comes high quality products. I think that when we are capable of completing this circle, it will give much more meaning to people. There was a big debate in Norway last year whether it's any point of sorting plastic waste. We are here to make that meaningful and visible so that people can see that what they sort actually come back as high quality products. You need to have a grip on the entire value chain. Europe has now set new targets for recycling 55% of packaging material. In not so many years, Denmark has actually set an even higher target. This means that it's not a wish list, it's not something that they are asking for and hope that people comply with. It's by law, you have to. This means that the municipalities that by then they are actually owning the waste, needs to implement and needs to increase the recycling rate. It's going to be competition for that waste. They're going to be much more available, but there's going to be competition. This is through contracts that run for many years, and we want to be part of bidding on those contracts. To be able to do that, you need to have a system for it, you need to have logistics, and you need to have the competence. That was what we got through Geminor. We were asked at the time, why do we invest in logistics? We hope that this now becomes quite clear, that with this investment, with this partnership, we are capable of entering into the whole value chain. Of course, we will transform that into material that BASF and other places can turn into new plastic products in the most easy way as possible. That is why we aim to produce naphtha as much as possible in the future of the highest possible quality. As we said, you need to be certified. You need to show that where this is coming from and how it's been produced, and with what environmental footprint you're doing it. It's also a lot to do with your financials. You will achieve better quality products coming in. You will have more control of your raw material, but it's also a lot to do with the financials. There are many contracts in Denmark that is now being renewed. The last one, three, four years ago, when the last were handed out, the prices were DKK 2,000-DKK 2,200 per ton. We are entering into that competition for these waste fractions, and we believe that we're going to be extremely competitive because it's not only about price, it's also about the ability to reach the target set by law. When we have chemical recycling as the only one in Denmark, we are adding sorting and some mechanical recycling as well. We will be the only one, we believe, that can reach some of these targets. Not only will we have the ability to bid, we think that we're going to be extremely competitive. Being able then to bid and take contracts where you can get fractions for DKK 2,000, DKK 1,500, DKK 1,800 will not only give us better raw material and more control, it will give us much better financials on the raw material side. Again, it took us eight to nine months to get these certifications, because you need to show, as I've said, where this is coming from, but you also need to show your footprint. How has it been transported? What kind of energy were used in transportation? What kind of energy were used in transforming this into new plastic? This is also one point where we believe that our continuous process, our upgrading step as an integrated part of what we are doing, are extremely important. Turning plastic into an oil is fine, but it needs to be upgraded somehow. There will be sulfur in there, there will be chlorine in there, there will be halogens in there, there will be nitrogen in there, no matter what. Everyone gets it needs to be upgraded and transformed somehow. By doing it in a continuous operation, by doing it without losing the energy balance, you will get the best possible environmental footprint, and that has been extremely important for us. That is something that we have invested heavily in, but we think it's one of the things that is very important when this is actually turned into an industry. What are we talking about? Where is this going to end up? These are some of the targets set by the consumer goods industry. All the large, or at least most of the large consumer goods companies, have come out and told their customers that they're going to be part of this. They are going to increase the amount of recycled material, L'Oréal, Nestlé, Mars, PepsiCo, and so on, and take a responsibility. This is not only going to be driven by the European Union, by new legislation, by this EUR 800 tax on new plastic, on the new taxes that are now implemented on burning plastics, CO2 taxes. It's also driven by the consumers. When they require that the products are more environmentally friendly, that they are part of this circular economy, then the industry responds. The industry have responded. You can look up from January last year, where Unilever pledged CHF 2 billion to buy recycled plastic material. We have started up in Skive, as we have now explained, it's a complex process. It's a very advanced chemical process plant, and we're taking steps every week, every month to get it fully up and running. It's not about reinventing the wheel all the time. It's these little small implementations of making pumps redundant, as Terje said, and so on. Of course then Kristiansund, now there we are ramping up also on the mechanical side, and we have another pilot running. We have said a long time that we have been working on a project in Esbjerg. It's not come to final FID yet. We are waiting for final approval by local authorities, and we expect to get this within a very short timeframe. This is a project I've been working on, and of course, with the intention to move that forward. I got a question also, why don't we hear about the Vitol any longer? Well, you don't hear so much about it because the story's the same. They have said for the last two years that when you are ready, we are ready. It's exactly the same. We have started now also a small feed together with VTTI, their subsidiary in Amsterdam. In Esbjerg and other places, our investments and our strategy will come together. We will have collecting, and we will have the logistic through Geminor. We will have the sorting. We will build a sorting facility. As I explained before, people are asking us, well, shouldn't you be able to take all kinds of plastic? Yes, we are. There is, when in household waste, there is 20%, 30%, sometimes 40% that is not plastic. It's mobile phones and it's used diapers and a lot of things. Waste is a nasty business in many ways. We cannot and will not be in the business of recycling mobile phones. We are recycling plastic. It needs to be sorted, and when we enter into this market and want to take contracts directly, it's a strength for us to be able to do this ourselves. It's an integral part of what we're doing. We will also control the quality of what's going into the factory. Chemical recycling, of course, is what we're doing. It allows us to take much more than is possible to do through mechanical, and it's also through chemical recycling that the circle can run forever. In mechanical, you will break down the material over time. Chemically, you start over and it can run indefinitely in theory. Then as I said, upgrading this so that our partners have as easy as possible process to turn it into new plastic. Vitol, as I just said, we are working with them, and we are now working with them in Amsterdam where they have a zero emission site, where they are planning together with us to see the potential for a Quantafuel plant. We have a very good day-to-day relationship with Vitol and their subsidiary, VTTI, that is now owned partly by Vitol and by ADNOC. As I said, and have announced, we started this partnership now, or we announced the partnership with REMONDIS and BASF just recently. We have talked to them for a very long time and looked at opportunities together. Now we formalized it to go more concrete into sites and opportunities. We are looking first at Germany, but of course, REMONDIS is one of the largest recycling companies in the world, with over 30,000 employees, and they are in four continents. Even though that's not been part of what we have discussed so far or have agreed so far, it's natural that both them and us, and of course also BASF, would like to see that this develops in numerous locations over time. As we also have said, we believe that the setup for the Italian market with Corepla that holds the waste, that already have a system set up for that, have 600,000 tons of plastic waste available for this industry, is the perfect partner for this market. As we have said many times, we started in Denmark, and we're going to continue in Denmark with a larger plant. We are also in Norway, but even though Norway is a great country, it is not where most people in Europe live. We aim for those countries where most people live, and of course, that is Germany, Italy, France, and U.K. We are, of course, also working on concrete projects in these other large European countries. What I think on the financial side is important, we have just recently started to send some product to BASF and gotten our first income, which is great. We are ramping up during this year to full production. What is important to get through is that we are very well-financed. We had first with KIRKBI last spring, and then this capital increase, so we do not need at this moment to raise any further capital. Of course, when we do project, we will look at financing of that. We will look at infrastructure financing and project financing and so on. It's important for us to get through that we are very well-financed to both run the company and to pay for the remaining CapEx in these projects. We have also, as some of you might have seen, a strong commitment from some of our strategic investors that recently also have publicly announced that they intend to financially back us up if that is needed at some point. Thank you. That was what we wanted to present to you today. As I said, we reached our target in Skive for the quarter. Very happy with that. We are still holding our focus on this express target of proof of concept. What is proof of concept? Well, for us, it's to be able to run close to nameplate capacity for a longer period so that we can also optimize better on the chemistry. These modifications and this bug fixing that Terje talked about is to achieve that. We are confident, and we work hard to get that proof of concept in the second quarter, as earlier said. Of course, very happy that we finally got going in Kristiansund. This small pilot has the capacity of 450 kg/ h, taking it up to 300 kg/h. We're going to increase to full capacity, but more importantly, we need to learn how this new equipment and this new system works so that we can implement it in future plant. We're going to execute now as soon as possible on our growth plans and get going on our industrial rollout for Europe and then later other geographical areas. Thank you. I see that there are a number of questions coming in, and I don't think that we will be able to take all of them, but at least I will try to take some, and I will have some. Let's see. Let's start from the top. There's one question here saying that we have, of course, not delivered that much so far, but asking then if we intend to ramp up and have more products going in the next couple of months. We are ramping up. We have, as I said, an ambition to have all four lines running later this year and, of course, then also deliver much more on a regular basis and get close to the capacity of the plant. Some might remember, we have also some questions here. We're looking at about EUR 15 million revenue per year from Skive. Who sold 7.5 million shares? First of all, we know there was a lot of speculation around it. Was this BASF, or was it KIRKBI, or was it Vitol. First of all, BASF is represented in our Board, and KIRKBI is represented in our Board. They're not allowed. It would have been illegal. None of our partners, Vitol doesn't have that much share, and they will never do it that way anyway. It was, to our understanding, an international investment firm. We didn't know that it would come. We were not involved in it, so we don't know the reasons for it, and we cannot take part in any speculation. We are sorry to see them and anyone else go, but our focus is to build long-term shareholder value, and we strongly believe that we will manage to do that. There's a question here, Christian, whether you have bought some shares. Before I give the word to you, let me also repeat that we, as a management team, are insiders many times and also before a quarterly report. We cannot buy. It's not allowed. Christian, could you tell us a little bit why you choose to join Quantafuel and also your commitment to the company? Okay. Over the past few days, that question has popped up about the shares. I don't think I can comment on that. I have to say, I get the question why I decided to choose Quantafuel also quite frequently, and there are three reasons. First one is, I think with this industry, it's probably not quite like you have seen with the railroads or the internet, but we are at a point where the chemical industry is changing. I've seen that in my previous job, and I think it will be companies like Quantafuel who drive that change. It's very exciting to be in that change. Since I believe it's also change for the good for society, it was very exciting. By the way, if you ask Terje why he took a very similar step, I think his answer is going to be pretty much like that. There are two other reasons. One is because Kjetil asked me, and we've been talking so much that there was a question, if I now don't come, I can never complain about what he's doing ever again. I decided to say yes. Thirdly, believe it or not, working in Quantafuel, it's a great team, it's a great place to work, and it's a lot of fun. Terje, Kjetil, Kristian Flaten, and myself, we are very different, but we work together very well as a team. I'm just personally happy to work in that company. That's the honest and maybe not short, but very honest answer. For those of you wondering also, they probably have guessed already, but you are now in Norway. You're in quarantine, but you are in a very Norwegian-looking cabin. Finally, we also have you in Norway to get everything ready for that. They also ask here about these registrations that we have, or these certificates we have now gotten for material recycling. You have been working in BASF, and as the customers of BASF that are finally going to have these products. Could you also elaborate on the importance of having control of this whole value chain and actually being able to document the process? Thanks. I'd like to take a step back and say, if you look at the public discussion in much of Europe, there's always a question, is this just greenwashing? Is that something that chemical industry and plastics industry and everybody's doing to just continue doing what they're doing? That's why every end customer, we showed a number of consumer goods companies, all of them get the question, is this real? Is this greenwashing? Are you really doing something for the environment? That's why, for these companies, it is extremely important that they do not get caught in some kind of scandal later on where then somebody says, oh, no, this is material that was basically shipped from the plant into another plant, turned into oil and shipped back. We have to show that this is actually material that is coming from waste collection after the consumer, or post-consumer, as I would say. Having Geminor and having these certificates gives end customers and also our customers like BASF, the trust to say, yes, we can say that this is not greenwashing. This is the real thing. For us as Quantafuel, looking at the long term, that is essentially important, because one scandal like that, where people say you have used something differently and we cannot prove the opposite, is going to be devastating to our credibility and I think to our business model. That's why for this, we cannot overstate the importance of being able to trace the waste and having the certification. Anybody would like to add? Terje or Kjetil? Yeah, I think going back to Kjetil's introduction to the plants, traceability is extremely important, but also the quality of our product, that we have purification steps in our process so that what we ship can be used directly in the next process step. I think that is also extremely important. That whole chain with the traceability and a product which is really a product is extremely important for our customers, which is, for instance, BASF today. Thanks, Terje. Going back to what I said earlier, now it's visible for everybody. It's very great to have somebody who picks up on what you do and then completes what you want to say. Because I said it's fun working in Quantafuel, this is what I'm talking about. Thanks for that, Terje. Thank you both. There's a lot of questions here, and we will not be able to answer all of them. As I've said before, we are looking at moving from Euronext. We have been focused now on getting Skive up and running. We are closing in on what we're calling proof of concept. We've got a question, when will you announce that? We will announce that. Otherwise, we will announce if there's a change in what we have said. That is important for us. We will, of course, give updated information if we have positive or negative development. If you don't hear anything from us, it's in line with what we have said before. There's a question here, why we changed the [Non-English content], and what is that in English, the purpose of the company, and if you're looking at using our competence differently? We are looking at using our competence to improve what we're doing. It's mentioned in this report this morning that the project for some time to extract hydrogen from our process. There is, of course, carbon hydrogen that we are using, and we have an R&D project to do that. We are looking at many possibilities on how to optimize the production from plastic, how to be as environmental friendly as possible. When will Quantafuel launch the first license agreement? Well, so far, we have chosen to go into partnerships, joint ventures, 50/50, or sometimes with more partners. There's a question here, how it's going to be divided in Germany with BASF and REMONDIS. It's not agreed yet. We have now started that process. We will see over time how the share and ownership are divided. For us, we have a strategy to be owners of this plant. One of the reasons is, of course, that we believe that it can be very profitable, and we connect the waste market with this premium market. Many questions regarding prices on our products. As we have said many times before, it's not set yet, this market. It's a new market. It is something that we cannot answer 100% yet. It needs to be developed, but it will be a premium. We are getting a premium already from the get-go with BASF and with this EUR 800 tax and this CO2 taxes and so on. There will be a premium market. We think that the best reference is to look at how the biofuel market has developed. If I may jump in on the licensing part, Kjetil. I think we have requests for licensing, but my personal opinion is it's not the time in this developer market. We talked about traceability, credibility. We're talking about further developing the technology. We're doing a lot of R&D in Malmö. We're talking about building these big plants. In my opinion, the time for licensing may come, but it is not right now. Any opinions from anybody else? No, of course, that's one of the beauty of being a rather small company. You can make fast decisions and so on. It might be that this is more natural for other geographical regions. We should never say never. Of course, we are focused now on the European market. Maybe we go with a different strategy for the U.S. market or the Asian market. I got a question here, if you now only can take plastic bags. It was just an example of how it looks. We're not taking that much plastic bags these days. It's a misunderstanding. Just to show and give you a mental picture of the amount of plastic, 625 kg is equivalent to 73,000 plastic bags. It's not only plastic bags that we are transforming there. We are taking a lot of different types of plastic in Skive already, from things that you will find in your household or in your garden and so on. It was just a mental picture. Will you work on your accent? Yes, thank you. Okay, I thank you for your attention. We have looked forward to this day, and we will keep you updated when things change, and I look forward for our next quarterly presentation. Have a good day and a wonderful weekend. Thank you.