Bergen Carbon Solutions AS

Earnings Release • Nov 9, 2022

BCS: Financial results for the third quarter of 2022

BCS: Financial results for the third quarter of 2022

(Bergen, 9 November 2022) Bergen Carbon Solutions AS (Bergen Carbon Solutions, OSE: BCS) reported an operating loss of NOK 10.6 million in the third quarter of 2022. The company remains confident on the strategy, driven by proven core-technology, several recent technological breakthroughs, increased market understanding, as well a solid financial position. On 4 November the Board proudly announced Odd Strømsnes as new CEO.

The Q3 presentation is attached to this message.

“The activity in the third quarter of this year has been high. We are continuously optimizing and developing our technology while gaining more insight into the market” says Finn Blydt-Svendsen, Interim Chief Executive Officer.

“Bergen Carbon Solutions aims to pioneer a new industry for environmentally friendly material-technologies. We currently have three focus areas: Optimize and further develop a profitable and climate positive technology, work towards industrial facilitation and remain financially solid. We believe this combination provides us with the best prerequisites to succeed long-term,” Finn concludes.

BCS have decided to extend the timeline of the factory in Høyanger to implement recent findings and detail engineering further. The company is confident that this will reduce risk and improve the overall business case.

A live presentation of BCS’ Q3 results and status will be available on the following link at 09:00 a.m. CET.

Link to webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20221109_5/

For further information, please contact:

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

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

-ENDS-

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.