The cooperation between Ragn-Sells and Cassandra Oil intensifies

Ragn-Sells AB and Cassandra Oil AB further progress their collaboration.

Nearly a year ago, Ragn-Sells and Cassandra Oil announced their intention to
cooperate in a joint venture, where Ragn-Sells would utilize Cassandra’s
technology in their operations in the Nordicum* with the purpose of contributing
to a circular economy.
Further development, testing and progress has occurred during the winter,
enabling the cooperation to intensify.

“The test results from Cassandra Oil's facilities look promising” according to
Jonas Roupé, Marketing Director at Ragn-Sells. “Our expectation was to produce a
synthetic crude oil as an end product, but recent tests during realistic
operating conditions indicate that the oil from Cassandra's process plant is of
significantly higher quality”. This is good news, according to Jonas Roupé.

Cassandra Oil’s technology, where hydrocarbon waste is converted into oil, is a
fast-depolymerisation process. The produced oil is then sent on to a refinery
for enhancement and can therefore be used as a replacement for traditionally
extracted oil.

Ragn-Sells who is conducting extensive research within the field of hydrocarbon
waste believe that Cassandra Oil's technology could provide greater
environmental benefits compared to today's solutions and support the community
in the transition towards a circular economy.
For further information, please contact:
Anders Olsson, CEO Cassandra Oil AB,
tel: +46 76 16 32 100

Jonas Roupé, Marketing Director, Ragn-Sells AB,
tel +46 73 066 6828
About Cassandra Oil
Cassandra Oil is a Swedish clean-tech company that uses cutting-edge technology
to produce oil from materials containing hydrocarbons, such as used car tires,
plastic waste, oil sludge, waste oil and, in the future, oil sands, oil shale
and electronic waste.
Cassandra Oil is listed on Nasdaq First North Stockholm as (ticker) CASO. Remium
Nordic AB is acting as the company’s certified adviser. Cassandra Oil AB has
approximately 8000 shareholders.