Cassandra Oil AB has restructured the subsidiary, Cassandra Oil Technology AB
2019-04-23
Cassandra Oil AB (publ) has taken the first step in a restructuring of the Group.
With the aim of being able to operationalise the Group, to grow and finance the business, the insurance dispute with Länsförsäkringar ("LF") has now been isolated accordingly. Cassandra Oil has transferred the subsidiary Cassandra Oil Technology AB for further sales or financing in a way that is intended to optimize the value for all shareholders. As part of this process, the operational assets and liabilities, as well as patents and other intangible assets, are transferred to a new company in the Group, Cassandra Technology AB.
Cassandra Oil AB is currently experiencing an increasing interest, for the Company's renewable products such as oil and rCb (renewable carbon black). One reason for this can be new regulations where fuel producers must include 20% recycled oil in their end products from 2020. And as refineries will only purchase registered products, the Cassandra Oil AB’s REACH-marked oil is gaining attention. Cassandra Oil AB's technical platform, which can convert waste such car tires, plastics, etc. to oil, is a unique, patented fast pyrolysis method, which waste management companies and the oil industry have realized is one of very few economically viable and environmentally friendly solutions.
This group restructuring enables both new and existing investors and partners to invest in Cassandra Oil AB during this exciting phase.
For further information, please contact
Mr Anders Olsson, Managing Director Cassandra Oil AB
Phone: +46 76-16 32 100
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