Trader and shipowner Vitol is accelerating its bid to produce bunkers from recycled plastics with a new share sale and trial plans.

The company is working with Oslo-listed Quantafuel, in which it has a small stake.

On Friday, Norway's Quantafuel completed a NOK 602m ($66m) private placement of shares to fund feasibility studies into the building of two large-scale production facilities in Amsterdam and Antwerp.