We initiate coverage on Quantafuel, a company that recycles plastic, with a buy recommendation and a target of NOK 125/sh. Less than 10% of plastic produced has been recycled and almost 80% released into the environment, creating one of our most severe environmental challenges. Up to now recycling has used mechanical processes. Quantafuel however is in the forefront of chemical recycling and is currently on the verge of a full industrial rollout.