Bergen Carbon Solutions AS

Regulatory Filings • Mar 29, 2023

BCS ENTERS INTO MOU WITH TKG HUCHEMS

BCS ENTERS INTO MOU WITH TKG HUCHEMS

(Bergen, 29 March 2023): Bergen Carbon Solutions AS (BCS, OSE: BCS)

BERGEN CARBON SOLUTIONS AS (BCS) ENTERS INTO A MEMORANDUM OF UNDERSTANDING (MOU) WITH HUCHEMS TO ESTABLISH A PARTNERSHIP AND TO COMMERCIALIZE BCS TECHNOLOGY AND CNT BUSINESS IN THEIR TERRITORY.

As of today, BCS has entered into a MOU with the Korean chemical company TKG Huchems. Huchems has 14 plants in Korea and their key business is within the fine chemical market. They are a major player and producer of chemicals, including nitric acid, ammonium nitrate, DNT and MNB.

The parties have agreed to start discussions regarding commercialization of BCS technology and products in South Korea. Both parties have expressed the willingness to work together on the development and investment of the technology and CNT business for the Asian region.

The purpose of this MOU is to produce noble CNTs with BCS technology for delivery to battery cell manufacturers in the Asian region. The parties will as part of this MOU explore the opportunity of setting up a CNT factory with a capacity of 10.000 tonnes per year in Korea.

Odd Strømsnes CEO in BCS says:

“For BCS this is a great opportunity to evolve our business together with a leading chemical company in the territory which is very well connected and share our commercial ideas”.

For further information, please contact:

Odd Strømsnes, CEO, os@bergencarbonsolutions.com, +47 480 88 571

Fredrik Øksnes, CCO, fo@bergencarbonsolutions.com, +47 975 67 318

ENDS

About Bergen Carbon Solutions

Bergen Carbon Solutions is the world’s clean carbon technology and materials company. The company is making CO2 a valuable resource, using renewable energy to turn the excessive greenhouse gas into solid carbon. With its groundbreaking, proven process for carbon capture and utilization (CCU), Bergen Carbon Solutions is enabling clean carbon for green manufacturing. The technology is ensuring stable delivery of carbon nanotubes and graphite, helping manufacturers to be less exposed to the raw material risks of geopolitical rivalry. Established in 2016, based in Norway and listed on Euronext Growth, Bergen Carbon Solutions is targeting the fast-growing battery industry globally, and other carbon intensive industries looking to replace conventional, fossil based solutions to stay relevant in their markets.

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Bergen Carbon Solutions | www.bergencarbonsolutions.com