Kvasir Technologies ApS

Kvasir Technologies focuses on sustainable solutions through advanced technology to create carbon-neutral biofuel from non-edible biowaste.

The Company's income statement for 2024/25 shows a loss of DKK 16,171,375 as against a loss of DKK 9,009,500 in 2023/24. Equity in the Company's balance sheet at 31 March 2025 stood at DKK -8,528,606 as against DKK 7,642,769 at 31 March 2024.

Capital resources

The Company has lost more than 50% of its contributed capital and is thus subject to the provisions on loss of capital under the Danish Companies Act. Management does not expect to restore the capital through operational earnings before current liquidity is exhausted. Instead, the Company’s plan is to restore the contributed capital through a combination of raising new capital from external investors, obtaining additional investment from existing shareholders and converting outstanding convertible debt into equity in connection with a qualified financing round.

No events have occurred after the balance sheet date of material importance to the annual report for 2024/25.

Operating lease obligationsThe Company has entered into operating leases with terms to up to 12 months with an average monthly lease payment of DKK 28 thousand, totalling DKK 335 thousand.