Bergen Carbon Solutions AS

Regulatory Filings • Nov 7, 2022

Bergen Carbon Solutions AS secures long-term power supply agreement

Bergen Carbon Solutions AS secures long-term power supply agreement

(Bergen, 7 November 2022): Bergen Carbon Solutions AS (BCS, OSE: BCS)

Bergen Carbon Solutions AS has today signed a long-term power supply agreement with Høyanger municipality, which will secure reliable and clean hydro-power energy for the Høyanger factory for up to 15 years.

Reference is made to the option agreement with Høyanger municipality announced on 22 March 2022 for the establishment of Bergen Carbon Solutions factory in Høyanger. A key issue in the planning process for the factory has been to secure a long-term power supply agreement, based on 100% renewable energy. The agreement with Høyanger municipality has a duration of up to 15 years and is based on commercial terms similar to other industrial contracts in the NO3 price area. The contract has a flexible ramp-up structure on volumes with price adjustments every five years. The contract also secures power for potential future expansions of production capacity in Høyanger.

Interim CEO, Finn Blydt-Svendsen commented:

"We are building a new industry in Norway and having access to clean and reliable energy has been a key factor for our company in the planning process. We look forward to a continued good cooperation with the Høyanger municipality and local partners on our future journey.”

ENDS

For further information please contact:

• Finn Blydt-Svendsen, Interm CEO, fbs@bergencarbonsolutions.com, +47 930 40 797

• Fredrik Øksnes, CCO, fredrik.oksnes@bergencarbonsolutions.com, +47 975 67 318

About Bergen Carbon Solutions

Bergen Carbon Solutions aims to pioneer a new Norwegian industry for ground-breaking, environmentally friendly material-technology. Bergen Carbon Solutions utilizes CO₂ and Norwegian hydropower to create carbon products such as nanofibers, nanotubes, and graphite. Bergen Carbon Solutions is listed on Euronext Growth under the ticker BCS.