Bergen Carbon Solutions AS

Report Publication Announcement • Dec 20, 2021

Bergen Carbon Solutions- Major Technological Breaktrough

Bergen Carbon Solutions- Major Technological Breaktrough

(Bergen, 20 December 2021): Bergen Carbon Solutions AS (BCS, OSE:BCS)today announced a major technological breakthrough with the successful production start of the “Diegel 2.0” production unit. The unit, which has eight times the annual production capacity of its predecessor, has now been in stable production in the Company’s test-center at Flesland for about a week and lab tests also confirms excellent product quality of the carbon nanofibers (CNF) produced.

Jan Børge Sagmo, CEO commented: “The successful start-up of the new production unit has been a pre-requisite for commercial large-scale ramp-up in our production capacity. I am very excited and proud that our team has managed to reach this major milestone, and slightly ahead of our previous guidance of during Q1 2022. We are now ready to rapidly increase our production volumes to meet the growing demand for our environmentally friendly CNF.”

The “Diegel 2.0” production units have an annual production capacity of 800 kilograms CNF each and multiple units will now be installed in the Company’s test-center at Flesland, producing CNF from pure CO2. The production units can either be installed in larger facilities or be used in containerized modular units for external production sites, where each modular unit will have eight “Diegel 2.0” production units and produce 6.5 tonnes of CNF annually from CO2.

Dag V. Skansen, Chairman of the board commented: “As announced in our stock exchange notice on 29 October, the Company is exploring the potential scale benefits of a full-scale production factory. The confirmation of this major technical milestone is very encouraging in this context. Bergen Carbon Solutions has the unique combination of utilising CO2 in the production of high-quality CNF and at the same time being a low-cost producer. This gives the Company multiple opportunities for profitable growth going forward.”

Bergen Carbon Solutions will issue a stock exchange notice with updated guidance on 21 December 2021 at 08:00CET. The release will be followed by a web-cast/Zoom meeting at 12:00CET Date Time: Dec 21, 2021 12:00 PM Oslo

Topic: Q&A with Bergen Carbon Solutions

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ENDS

For additional information, please contact:

Jan B. Sagmo, CEO, janbsagmo@bergencarbonsolutions.com, +47 473 72 701

Dag V. Skansen, Chairman, +47 909 57 585 dag.skansen@skansenholding.no

About Bergen Carbon Solutions | www.bergencarbonsolutions.com Bergen Carbon Solutions uses innovative technology to produce carbon nanofibers, using CO₂ and Norwegian hydropower. This makes the production unique and environmentally friendly. Bergen Carbon Solutions is listed on Euronext Growth under the ticker BCS