Bergen Carbon Solutions AS

M&A Activity • Jun 8, 2021

Bergen Carbon Solutions: Enters into LOI with Chinese company

Bergen Carbon Solutions: Enters into LOI with Chinese company

(Bergen, 8 June 2021) Bergen Carbon Solutions AS (BCS, OSE:BCS) today announces a Letter Of Intent (LOI) with a Chinese company for supplier- and business development cooperation for green carbon-nanofibers (CNF) applications in Asia.

“We´re excited to announce our first initiative in China, highlighting the strong interest for Bergen Carbon Solutions’ green carbon-nanofiber technology and the opportunities to rapidly expand our commercial footprint in Asia. Under the LOI, we aim to enter into an agreement to ship a CNF module/bigger modular factory unit to their facility in parallel with developing our joint opportunities,” says Jan B. Sagmo, CEO of Bergen Carbon Solutions.

Bergen Carbon Solutions has entered into a Letter of Intent with a Chinese company, aiming at entering into a CNF module supplier and business development agreement. The Chinese company produces chemical fertilizers, calcium chloride, potassium sulfate and other related fine chemical products, based on high-quality development, technological innovation, product quality and circular economy.

ENDS

For additional information, please contact:

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

Kåre B. Voldsund, CFO, kbv@bergencarbonsolutions.com, +47 906 77 756

About Bergen Carbon Solutions | www.bergencarbonsolutions.no

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.

About carbon-nanofiber and Bergen Carbon Solution.

Carbon-nanofiber (CNF) is a high value product, lighter than plastic, stronger than steel and leads electricity better than copper, and is applied to a wide range of consumer and industrial products, from energy storage to protective clothing. The CNF is made by using modular production units that are based on two 40 feet containers stacked on top of each other with two reactors (4 crucibles each). Each production unit can produce about 6.5 tonnes of CNF annually out of 30 tonnes of CO2.

The production method and technology have been verified by DNV-GL, and Bergen Carbon Solution has been producing CNF at their test facility since summer 2020. The company has developed an energy efficient, carbon negative production method, to produce CNF out of CO2, using only renewable energy and with O2 as the only bi-product and thus Bergen Carbon Solutions calls it green carbon-nanofiber.