Investor Presentation • May 10, 2023
Investor Presentation
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Odd Strømsnes, CEO 10 May 2023
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Burn rate under control and well financed
| NOK'000 | Q1 2023 | Q1 2022 |
|---|---|---|
| Total revenue and other income | 5 | 218 |
| Total operating expenses | 18 569 | 12 712 |
| Operating profit (loss) | (18 564) | (12 494) |
| Net profit (loss) for the period before tax | (18 814) | (12 741) |
| Net change in cash and cash equivalents for the period | (16 212) |
228 207 |
| Cash and cash equivalents, end of period | 276 777 | 335 502 |
| Equity | 289 916 | 348 254 |
| Total assets | 317 090 | 374 454 |
BCS in brief
The green supermaterial of the future
Pure play CCU material company enabling clean carbon for green manufacturing
We make clean carbon from harmful, excessive greenhouse gasses
CCU 1 is an alternative to carbon capture and storage, securing control of raw material delivery
Fully funded strategy with NOK 277 million cash balance
OUR JOURNEY
Technology & market
The customer ecosystem
With our technology, we can both capture CO2 directly from flue gas or run on captured CO2 (CCU)
From CO2 we make high quality carbon products, tailormade for the customer, ranging from small nano-particles to graphitic macrostructured carbons
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Our carbon products are suitable as raw material for several industries, but our current focus is on making Carbon materials for the battery industry
Total battery anode materials (BAM) demand expected to increase 300% by 2025, reaching 2.9 million tonnes 1
By converting from fossil to green carbon production, CO2 emissions would be reduced from 14.5 to negative 5.8 million tonnes CO2
Anode: Carbon-based host material. Accepts Liions during charging and release them to cathode during discharge.
Source: McKinsey & Company
Cathode: Li-metal oxide compound. Releases Liions and electrons during charging and accepts them during discharging.
MWCNT acts as a conductive agent, properly mixed, makes a conductive network that increases the conductivity between the particles:
| MWCNT | USE IN BATTERIES Typically used to increase conductivity of the electrode |
SPECIFIC SURFACE AREA > 200 m2/g |
|---|---|---|
| Anode graphite |
USE IN BATTERIES Used to store the anode host materials, to store Li-ions |
SPECIFIC SURFACE AREA ~ 1 m2/g |
Different structured carbons hugely affect end results, making early characterization and initial material testing key
Ability to deliver products within the required specifications
That the supplier can offer stable manufacturing capacity
That the cell producer can trust the supplier to honor commitment over time (typically min. 5-year contracts)
The way forward
Our typical customers have high willingness to pay for locally produced raw materials and our product's CO2 negative nature
For MWCNT players, we offer the possibility to deliver a truly carbon negative additive at a competitive price
Our technology is typically well suited for anode-graphite players that want to secure locally produced raw materials or reduce emissions by blending in our carbon negative products
Producer & supplier
Produce and supply the green supermaterial of the future
Technology provider
Service provider delivering technology to existing industry
Collaboration
Joint venture with existing industry partners
Continued strong capital discipline to preserve runway towards and beyond commercial scaleup, and flexible triple threat go-to-market strategy
Enter long-term commercial industrial partnerships, both up and downstream, with focus on battery vertical
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This Company Presentation (the "Presentation") has been produced by Bergen Carbon Solutions AS (the "Company" or "BCS"). The Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity.
All of the information herein has been prepared by the Company solely for use in this presentation. The information contained herein does not purport to contain all information concerning the Company. No party has made any kind of independent verification of any of the information set forth herein if not specifically expressed in the Presentation, including any statements with respect to projections or prospects of the business or the assumptions on which such statements are based. The Company does not make any representations or warranty, express or implied, as to the fairness, accuracy, reliability, completeness or correctness of this presentation or of the information contained herein and shall have no liability for the information contained in, or any omissions from, this presentation. The information contained in this presentation should be considered in the context of the circumstances prevailing at that time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. Neither the Company and subsidiaries nor any of its directors, officers, employees, advisors or representatives (collectively the "Representatives") shall have any liability whatsoever arising directly or indirectly from the use of this Presentation.
Included in this presentation are various "forward-looking statements", including statements regarding the intent, opinion, belief or current expectations of the Company or its management. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance and outcomes to be materially different from any future results, performance or outcomes expressed or implied by such forwardlooking statements, including, among others, risks or uncertainties associated with the Company's business, segments, development, growth management, financing, market acceptance and relations with customers, and, more generally, general economic and business conditions, changes in domestic and foreign laws and regulations, taxes, changes in competition and pricing environments, fluctuations in currency exchange rates and interest rates and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this document.
An investment in the Company involves risks, and several factors could cause the actual results, performance or achievements of the Company as described herein to be materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this Presentation. Should one or more of underlying risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this Presentation.
Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date.
No information contained herein constitutes, or shall be relied upon as constituting, any advice relating to the future performance of the Company. The Company undertakes no obligation to publicly update or revise any forward-looking statements included in this Presentation.
This Presentation is governed by Norwegian law and any disputes related to it are subject to the ordinary courts of Norway.
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