Kyoto Group AS

Board/Management Information • Apr 15, 2021

Kyoto Group AS: Christopher Kjølner becomes CEO to lead thermal battery commercialisation

Kyoto Group AS: Christopher Kjølner becomes CEO to lead thermal battery commercialisation

Christopher Kjølner becomes CEO to lead thermal battery commercialisation

Oslo, 15 April 2021 - Kyoto Group AS is pleased to announce that Christopher Kjølner today will assume the position as Chief Executive Officer (CEO) of the company following his earlier appointment by the Board of Directors. Kjølner (born 1972) brings with him over 20 years' experience from strategy, finance and business development to lead the commercialisation of Kyoto Group’s thermal battery solutions. Christian Blom, who has been the acting CEO, will continue in his role as Kyoto Group’s Chief Operating Officer (COO).

“Kyoto Group has a strong renewable energy technology offering and clearly stated ambition for growth. We are pleased to welcome Christopher, who together with Christian and the rest of the team will drive the commercialisation of that offering. We also thank Christian for his leadership through the Euronext Growth listing”, says Eivind Reiten, Chairman of the board at Kyoto Group.

“Today, the world is increasingly relying on renewable power sources, which creates periods of differences between supply and demand in the energy market. This is where our thermal batteries become highly relevant. Kyoto Group’s Heatcube makes it possible efficiently to store energy for use when it is needed, not when the weather is right, ensuring stable supply of decarbonised heat energy to industrial users”, says Christopher Kjølner, the new group CEO.

Kjølner has held various positions within large domestic and international corporations including Skagerak Energi, Lorentzen & Stemoco, GE Power Conversion and GE Renewable Energy, Nordea and in start-ups such as Scandwind. He also holds various board positions. He holds a MSc in Business and Economics from the Norwegian school of management (BI) and is a Norwegian citizen residing in Norway.

For additional information, please contact:

CEO, Christopher Kjølner +47 90 53 19 62 or christopher@kyoto.group or CFO, Camilla Nilsson +47 48 29 56 85 or camilla@kyoto.group.

About Kyoto Group

Kyoto Group aims to capture and manage the abundant energy from variable renewable sources such as solar and wind power and apply it to reduce the CO2 footprint for industrial thermal loads. The Company, founded in 2016, plans to operate and sell HeatCube thermal batteries with capacity from 5MW and upwards, enabling industrial consumption of low-cost heat sourced from excess solar and wind energy.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.