Good morning, and welcome to this Q4 presentation. My name is Lars Rosenløv, and I am the CEO in Quantafuel. Together with me today, I have Terje Eiken, our COO, and he is currently located in Skive, and he will join me for the presentation. Kristian Flaten, our CFO, he will join us for the Q&A session after the presentation. Please make sure to read the disclaimer on the next slide, as I will not spend time reading it out here today. The agenda for today's presentation, I will take you through key highlights, then I will send it over to Terje to give you an update on Skive and Kristiansund. I will talk you through strategy and growth, our where our chemical recycling is still our main focus. We will close with financial figures, followed by a summary before we open it up for Q&As. I will recommend that you submit your questions during the presentation. Key highlights. In the Q4, we have continued to build the foundation for this year's operation. Skive has been the main activity, and we have completed the turnaround and transition into operations in December. Terje will go through the status in a minute. We completed a private placement in January after two weeks with high production end of January. As announced, the use of proceeds are primarily for our Esbjerg sorting plant, and in addition, we progress our plastic-to-liquid project in Dubai and Sunderland. For Esbjerg, we have now secured the manufacturing slot for the sorting equipment, which is a critical part of this project, and discussions with a financial partner is ongoing. We continue to progress our international plastic-to-liquid projects. In Q4, we signed a MOU with ENOC and Dubai Holding. What differentiates this project is that we have a financial partner so early in the process. In the U.K., we have signed an agreement taking 100% ownership to our U.K. activities. The U.K. is a promising market, and we continue to develop our chemical recycling plant in Sunderland. With this, I will hand it over to Terje to give us a plant update. As you said, I am in Skive today, and during this presentation, I will give you a short digital visit to the factory. Looking back at the end of Q4 and start of Q1, we have made great progress in Skive. The new equipment installed on line one and two during the turnaround works as expected, and the production data speaks for itself. During two January weeks, we converted 200 tons of post-consumer plastic to high-value oil. We have removed the bottlenecks that prevented stable production at high load. We have gone from minimizing the downtime to maximizing the uptime. Due to the latest development, we needed to increase the final CapEx with 1.6% to NOK 620 million. This sum includes ongoing activities to bring all four lines to the same high standard. From first of January, the asset is transferred to a Danish legal entity and taken over by operations. A lot is said and written about our proof of concept, or POC. From a technical perspective, and as generally used in the industry, POC demonstrates the feasibility of an idea. Looking at our factory and the fact that we have shipped numerous trucks with oil to BASF, the concept is proven. No doubt about that. Having said that, the way we define POC, it is related to proof of capacity and uptime. In other words, the ability to continuously convert plastic at high feeding rate over longer time. It is an important milestone in our ramp-up towards full production, and we will keep the market updated as we progress. Line one and two will both be back in production shortly, and we plan to add a third line towards end of Q2. Since our 2022 guidance was based on one line in Q1 and adding one more for each quarter, we maintain the guidance despite the downtime in February. Our technology works. Based on our learnings, Quantafuel's management and board of directors are confident in continuing the planned plastic-to-liquid projects. A few days after the failure related to burner chamber and flue gas system on line two, sorry, we invited to an open briefing and Q&A session. This sketch was also used in that presentation, and I would like to repeat that. Our operators on duty took the only right action to close down production precautionarily, since high temperature prohibited inspection. We quickly found the root cause and initiated repair work by a competent local company. We used the downtime efficiently for preventive maintenance and some minor modifications requiring a cold system. We targeted to be back in operation by mid-March, and I will show you in some minutes that the burner chamber for line number 2 is already back in Skive and that we are heating the line. By that, we resume production shortly. Within mid-March, we plan to start line number 1 too. We have previously presented our Kristiansund operations, where we develop a plant with a total capacity of 30,000 tons, of which 20,000 are dedicated to mechanical recycling. Lars will later dive deeper into our strategy and explain why this combination of mechanical and chemical recycling makes a lot of sense. In short, this is not either/or. The two technologies that together will give the highest possible recycling rate. We see a strong demand for sorted hard plastics, and the availability of industrial feedstock is good. What is unique with our setup? We combine different technologies in one line, enabling even sorting of black polymers. Further, we develop our capabilities and competency within making high-quality pellets that can be directly used by our clients without any further processing when making end consumer products. The testing of the electrically driven pyrolysis reactor is continuing, and as previously reported, the quality of the produced oil is promising. With that, I hand over back to Lars, and I will join you shortly with a live presentation from the production hall here in Skive. Thank you, Terje, and, now I will continue with our strategy and growth plans. First, I will show you how Quantafuel enables a circular economy. You're probably seeing the circle to the left, so instead of producing plastic from fossil fuel, you can produce it from recycled plastic. The cheapest and most energy-efficient way is by mechanically recycling. You see the pellets to the upper right. You can recycle hard plastic, say, 6-8 times before it loses its good properties, and then you can recycle it mechanically or chemically. Chemical recycling is also for soft plastics like foil, packaging, and wrapping material, and for all plastic you would like to use in food, pharmaceutical, and toys applications. By converting plastic into a liquid, you have the same starting point as with fossil oil-based petrochemical feedstock. Chemical recycling complements the widely used mechanical recycling and is required to achieve the high recycling targets now set by EU. Quantafuel is also in waste sorting in Kristiansund, and we have a very solid financial project coming in Esbjerg in Denmark. We own 40% of Geminor, with an option to buy the remaining 60%. Geminor is handling waste logistics in 10 countries across Europe. Our strategy has different targets in different markets. In the Nordic, we have a high use of plastic per capita, but the sorting and recycling is low. Here we have targeted both mechanical and chemical recycling and some selective sorting. All parts of this value chain has proven to be economical, very attractive. If we go further south in Europe, the sorting and mechanical recycling is more developed. We have no intention to try to compete with these well-established companies. Instead, we have set up with strategic partnerships to secure access to feedstock and provide complement chemical recycling to these established local value chains, increasing the overall recycling rates. If we go international, like we do in Dubai, it is important for us to gain control over the full value chain with local partners on both waste sourcing and product, and this to minimize our risk. On the right-hand side, you see three additional strategic targets. Securing enough upstream integration, like we do with Geminor, is for us to understand waste flows, pricing, and market opportunities. I believe that Quantafuel is quite unique here, and to me, this is one of our competitive advantages. Finding a quick way to develop economy of scale by building optimized, standardized, and modularized processing plants. Think about Skive. It has 4 lines. The coming chemical plant in Esbjerg is 4 times bigger and will have 16 lines, so we don't have to build a lot of plants in order to start gaining some scale effects from construction, operation, and maintenance. Deliver traceability certificates to our customers, which document which waste source created which product is also important. We have continued to develop our project pipeline in preparation for growth. We believe that there are some first-mover advantage from acting now. The announced projects you find on this slide. We are building an industry, so permitting typically takes 6-12 month and construction takes 18-24 month. In addition, we are dependent on financing, so timing and order of these projects can change. One comment on our Amsterdam project. In Amsterdam, we are working closely with VTTI towards a chemical recycling plant supplying circular raw materials to Vitol. The feasibility study is proceeding, but due to delays in the permitting process, we are once again looking at several sites, not only in Amsterdam, but in the Amsterdam-Rotterdam area. This situation has delayed the target start-up date. From a portfolio point of view, we are more or less balanced. We also continue to see strong interest in our plants and products, so in addition to the list of projects you see here, we are working other projects. Esbjerg is a game changer in the Danish market, and we are now progressing as planned with this development. As announced, we have signed a contract with Eggersmann, one of the leading suppliers of waste treatment plants. The contract includes engineering and secures Quantafuel a firm manufacturing slot for equipment, which will safeguard our time schedule on this very economically attractive project. We are talking about a plant CapEx of 670 million NOK with an IRR higher than 30%. The plant will be operational the H2 of 2023 and will have a capacity to sort more than 160,000 tons of plastic waste into clean mono-fractions which are ideally suited for recycling. This could be feedstock for Skive or Esbjerg, and it could be for external customers who will use our product for mechanical recycling. The plastic waste sorting facility in Esbjerg is Quantafuel's first step towards developing an integrated recycling site there. The next phase will include a large-scale chemical recycling plant based on Quantafuel's technology, and you see the full development on the illustration to the right. In U.K., we have taken 100% ownership, as this is a promising market. We have a prime location in the Port of Sunderland, which means excellent logistics, especially regarding transport by ship, which comes with the lowest carbon footprint. In Sunderland, plastic-to-liquid plants, the Sunderland plastic-to-liquid plants will be our first plant in U.K. We have excellent support also from the British government in form of the British Embassy here in Oslo and the relevant authorities in U.K. The site layout and design for the Sunderland project is completed. The coming month will be important for the project with full planning application and permitting application being finalized and submitted. We have also arranged for public consultation and drop-in sessions to be held in Sunderland in March before the application is submitted. Before continuing with the financial figures, I will ask Terje to join us from the factory floor in Skive. Are you ready, Terje? Yes, I am. Can you hear me? I hope so. I'm now in the factory area in Skive, and I will give you a short guided tour through the main parts of the factory. I will actually start at the back end, showing you the holding tank for the pyrolysis oil. This means the tank where we collect all the oil from the process before it's pumped into the distillation tower, 22 meters high, where we split the pyrolysis oil into three fractions. These three fractions are then pumped to the holding tanks for heavy and middle fraction and to the holding tank for the light fraction. At the back end here, we can also see the loading station where we are filling the containers with oil, light, medium, heavy, going to BASF in Germany or Belgium. The oil in the holding tank from the process looks like this. You can see it's normal black oil with good viscosity at ambient temperature. After the distillation, when we get the medium fraction or the middle fraction, you can see that the color is much lighter, and it's also lighter oil. As the last example I will show you, it's the light fraction, which is more a yellow color and a very light oil. This is the end of the process. I will now switch to the other view and walk to the area where we start the whole process. This is the feeding area where we have a storage of plastic for some days at peak load for all four reactors. We have a logistics area in Aalborg where we can store more plastic for several days of production and then take it up to Skive as needed. The reason why I wanted to show this plastic is that many people are curious about the quality of the plastic we are feeding. As I will show you now in just a few seconds, as you can see here, if I just manage to turn the camera around, this is the kind of plastic we are using. It's called 2D plastic or soft plastic or foil. It's sorted, but still post-consumer plastics. These bales with plastics are then lifted as needed up on the conveyor belt here and transported up to a chute. From that chute, it's then falling down onto the shredder, which is then taking the plastic into small pieces, suitable size for the reactors. I will now walk up to the shredder area. For those who remember, we had reported in December that we needed to stop the factory because we had a mechanical failures in the shredder, and this is the unit we talked about. On the top of the unit, you can see the chute where the bales are falling down onto the shredder, and the shredder is then converting this 2D plastic or foil plastic into smaller pieces, and I can show you some example here from the conveyor. You can see this is the kind of pieces, typical size, typical consistency, which we are then feeding into the system. I will now walk across into the production hall. I hope that the connections and the sounds and everything is still good. In the production hall, you will see the four production lines, and they are organized in two modules. The plastic is coming in from the outside feeding system on this conveyor belt for module one, which consists of a reactor or line one and two, with the hopper or the silos on the top. On the bottom here, we have the lines. Line number one, you can see that the burning chamber is removed and sent for modifications. If I walk across here to the line number two, we can see that the chamber is back. It's mounted. Not only mounted, we are heating up, and you can actually see the flames inside the burning chambers. If I go a little backwards, you can see the other module with line 3 and 4 with the same conveyor belt, and the reactors at the floor level 3 and 4. Number 3 is already removed, being prepared for shipment to the modification, while number 4 is just demounted equipment outside and ready to be pulled out and also sent. We are making good progress on this modifications of the burner chambers. I will now walk down along the reactor where initially you see the feeding system where the plastic is entering into the reactor. The big pipe you see are for the flue gas system, and this flue gas is the hot air or gases from the flue gas chamber heating up the reactor. The reactor itself is inside, rotating, and heated from the flue gases surrounding the reactor. It's also what we tried to explain with the sketch in the presentation some weeks ago. We're going down here. The pyrolysis gases escapes from the reactor after the plastic has been converted into gas. In this area, the pyrolysis gases are purified, stabilized, and cooled down so that we get a stable oil product into the holding tank. Behind this tarpaulin, we are installing the equipment on line 3 and 4 as we did on line 1 and 2 previously to remove this so-called bottlenecks which have prevented us from having a stable production at high rate. With that, I conclude the digital tour of Skive and I go back to the office. I'll see you in a minute. Okay. Thank you, Terje, for this. I hope you all got a very good idea of the scale we have in Skive. Skive plant will be a small plant in our future portfolio. Let me underline what you just saw is not lab or pilot scale. It is industry. As I explained going through our strategy, chemical recycling is our main focus, but we integrate upstream to develop and understand how the value chain is working and secure how we can take out margins. What differentiate us in the market is four things, I will say. One, Quantafuel are in production. We are not a project or an idea. Two, we have a continuous process, which is a more energy efficient process. This fits very well with circular economy, which is also about sustainability and low CO2 emissions. Three, Quantafuel is upstream integrated as now mentioned several times. Four, our approach is to build, own, and operate, developing important knowledge about this process and value chain. IP is more than technology. It is also understanding important details and correlations, and there is no better way than being directly involved. Our guiding on a standard chemical recycling plant is CapEx $100-$150 million for a 100,000 tons plant, depending on the complexity and the product specifications. Oil yield is 80%, leading to a revenue of $80 million and an EBITDA of $50 million. A few financial highlights. We came out of the quarter with NOK 285 million in cash. We have an SG&A monthly run rate of NOK 10 million. We have high focus on lean and cost-efficient day-to-day operations, and we are targeting positive operational cash flow from the plants within H2 of 2022. In January, we raised NOK 400 million for additional growth. Just to repeat, the Skive project is now handed over to operations. The final CapEx figure there is NOK 220 million. We maintained production targets at 12,000 tons plastic for this year. Then finally, to summarize, we continue to focus on reaching full production capabilities in Skive. We know that the technology and process is working, even though we still like to prove uptime and capacity. Therefore, we are ready to continue our announced projects. We expect positive operational cash flow from our plants within H2 of 2022, and the global interest in our plants and products are continuing. With this, I would like to welcome CFO Kristian Flaten to join me here at the stage, and then we will open up for questions. Thank you. Yes. Terje, we have a question for you. How many hours does it take to heat the line and be ready to start production? I think I would not like to go into the very, very gritty details, but if I say it takes between 1 and 2 days if you start from a normal cold temperature to are ready to start feeding. Could you hear me? Yeah. Yeah, yeah. Yeah. I think everybody else heard you. Okay. That's fine. Lars, Finansavisen today wrote, with regard to new processing plants, Quantafuel writes that cooperation with Vitol continues, and that feasibility studies with the oil company continue, but due to complications with approvals, the start date is postponed significantly. Can you say how long? Yeah. I think we showed in the presentation that we now expect the Amsterdam or ARA plant to be in operations 2025-2026. It is postponed, I think by one to two years, due to the issues we have with the permitting. Now we are searching for other locations in addition, and that is the reason why we now take time to find, you can say, the right spot to continue. Kristian, on Esbjerg sorting, what kind of annual EBITDA are you targeting when the production is at 100%? We're not disclosing too much details on the revenue and the EBITDA of the sorting plant, but we have indicated an unlevered IRR of above 30%. As you can calculate backwards and forwards, it's a very profitable plant as well. With regards to operating expenses, SG&A, we note a significant increase. Do you see this increase as an anomaly for the quarter, or do you see this level continuing given the expansion of the company? For a period now, we have been running kind of both the ordinary SG&A in Oslo. We are running kind of the ramp-up at 2 plants, both in Kristiansund and in Skive. We are also doing both kind of studies and business development for, among others, Esbjerg, Dubai, Sunderland, Amsterdam, as Lars points to. We have had kind of an extraordinary high kind of both OpEx and investments for a period now. Lars, do you in 2022 expect construction start on Esbjerg chemical plant? I hope that we can get to a FID during the year, but time will show. I think what is important here is to get some headroom for the sorting plant, and then we will see when we need to continue with chemical recycling. It's important that we gain, you can say, control over the feedstock market and situation in Denmark first, so that timing will be, you can say, debated until we are ready. We have a question to Lars or Terje. Is it possible to build in more redundancy in Skive so that we don't see so many stops? I can start. I will say, first of all, it were a very bold move to build Skive at the time in history for Quantafuel, and we are very happy that we have the plant now. I think the plant is built, you can say, on a standard that we will normally not do, at least not where I came from in the oil industry. The issues we have with redundancy and uptime are issues that are easily solvable. I'm not so concerned that we can solve it for the next project. If we wanna solve it for Skive, I think we have to assess whether or not it would be a suitable investments in Skive. I don't know if, Terje, you wanna add anything to that. I think it's fair to say that Skive had a redundancy philosophy through having four identical lines. Within each line, no redundancy of pumps or motors or other equipment. What we see today is that if we had built Skive from scratch today, we would probably have a what we call a duty standby pump on some areas where we have seen that we have frequent stops during the last half year. This duty standby means that you have two pumps, and one is working, and the other one is ready to take over if something happens. It has a minor cost if you take that from the beginning, and that would improve the uptime of Skive the way we see it today. We have now done a lot of other mitigations, so I think that, going forward, the uptime of Skive will be as expected in the original design. Still, I would, as an engineer, like to have some redundancy, and we will of course evaluate that for the next plant. As I said, to do that from scratch when you start a project has a minor impact. If you'd want to do it after you have built the factory, it's more complicated. Still possible in some areas, but it takes more time. Terje, is the type of burner chamber, steel cone from Skive installed in Kristiansund as well? The reactor in Kristiansund is electrically driven, so it doesn't have a burning chamber. I think that is the short and sweet answer. Yes. Also, Lars or Kristian, does the guided offtake price of $1,000 per ton include any net revenue or cost to receive plastic waste feedstock? Yeah. No, we guide for a kinda net revenue, so meaning that the sum of offtake and the revenue alternative cost from the production of plastics will be $1,000 a ton. With regards to the Esbjerg sorting plant, will this be financed solely by cash? Pardon? Financing of the Esbjerg sorting plant. Yeah. Now, for the initial phase of the construction, the financing will be done by equity. We have secured our part, and we are working very closely with a financing partner now to secure the remaining part of that financing. Once we get into operation, that goes both for Esbjerg, it goes for Skive, and also for Kristiansund, we also see that there is a very good capacity for taking on debt in the different projects and also on the corporate level. Also on the CapEx side of the Esbjerg plant, we have a question. When do you expect the investment CapEx to begin for this facility, and when will the chemical recycling line at Esbjerg follow? For the sorting plant, we have already kind of gradually started, and that was also the reason why it was important to complete the private placement in January. For the Esbjerg sorting plant, the CapEx has already started. Lars, the fact that you now have moved the plant to operation, does that effectively mean that you have defined or established proof of concept, or will this be announced separately at a later stage? As we tried to explain in the presentation, the way we have defined proof of concept is the proof that the technology and the process is working. I think we have proven that already with six trucks coming out of Skive this year compared to six trucks coming out of Skive for the full year of 2021. What remains to be proven, according to our definition, is also high uptime and high capacity. As Terje said, now when we are getting back into operations, we will hunt these internal targets as well. Also with regards to the Esbjerg PTL plant, we have a question: Do you still guide for first oil in 2023? I on't know if we have guided for 2023. I think we have separated into two phases. We have said the first phase is sorting plant, and this is the one we are proceeding with right now. We have to build a market position on waste feedstock, and a chemical plant will come later as a stage two. Also a finance question, Kristian. Can you provide more detailed overview of the cost development in the Q4? Cost of material was very high, and what were the reason for the high level? Going forward, what is the typical run rate level? We haven't provided kind of the full details of that, but we can say that for a certain period now, operating expenses both for the Skive plant and the Kristiansund plant is higher than what it will be actually in normal production. One example is that the reactor, for example, is heated up and down, and that takes a lot more energy, for example, than during continuous operation. Also, we are also continuing kind of the growth planning and the business development, so that has operational cost that is taken over the P&L. We are now through all incoming questions for the moment. Okay. I think we has come to an end, so I will thank you all for participating and showing your interest in Quantafuel and see you around. Thank you. Thank you. Thank you.