Astrum Group was established in 2018 with a mission to help solve one of the world's most considerable environmental problems - the growing mountain of plastic waste. We saw that plastic waste had become a massive issue in Europe after China stopped accepting such waste in 2018 - and we understood that the EU was a strong driver in the market with directives, incentives, and sanctions for increasing the plastic recycling rate from 33% to 65% by 2035. We started to research and map out technologies for chemical recycling of plastic waste, benefiting from our co-founder, Jan Neumann's in-depth experience from his waste oil recycling plant, WORP in Mallorca, Spain.

We are operating with the proven technology of advanced recycling and proof of concept. Our technology is chemical recycling by thermal degradation of polymers in combination with our propriétaire developed technology to comply with certain specifications.

In April 2021, we installed a test pyrolysis plant at WORP in Mallorca, where we currently test various plastic waste feedstock from Valencia. We have tested different municipal streams of plastic waste by chemical recycling, and the results have been positive according to our expectations for yield and quality. In addition, the process is environmentally friendly with a significantly lower carbon footprint than traditional industrial processes.

As a result, Astrum Group intends to build replicable standard factories to solve the plastic waste problem locally where there is access to sorted plastic of the right quality. In that way, we are benefiting from reusing plastic waste and bringing it into the circular economy, and at the same time, contributing to solving Europe's environmental problems.

The first factory is planned in Valencia with a capacity of 60 tonnes of plastic waste per day. We have a competent industrial team with over 30 years of experience from complex oil and gas installations all over the globe, including project directors from the refining industry and a doctoral specialist in chemical risk analysis. This team has the necessary experience to execute Astrum Group's ambitious plans.