Bergen Carbon Solutions AS

Regulatory Filings • May 14, 2021

Bergen Carbon Solutions: Enters into BD and research LOI with Japanese company

Bergen Carbon Solutions: Enters into BD and research LOI with Japanese company

(Bergen, 14 May 2021) Bergen Carbon Solutions AS (BCS, OSE:BCS) today announces a Letter Of Intent (LOI) with a Japanese company for a business development and research cooperation for the expansion of green carbon-nanofibers applications. The agreement is the second LOI with a Japanese company for Bergen Carbon Solution.

“We´re excited to announce our second initiative in Japan, 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 will conduct a joint feasibility story providing additional data for the expansion of green carbon-nanofibers to new applications, in addition to providing decarbonizing opportunities for the Japanese manufacturing industry, ” says Jan B. Sagmo, CEO of Bergen Carbon Solutions.

Bergen Carbon Solutions has entered into a Letter of Intent with a second Japanese company, aiming at developing joint business opportunities, to expand the application for carbon-nanofibers (CNF) and to create opportunities for the manufacturing industry in Japan. The LOI partner is a global integrated business enterprise that develops and operates businesses all over the globe.

“Our Japanese partner has a strong emphasis on sustainability across their global businesses and this feasibility study will provide important data and business development roadmaps for green CNF into new areas. The study will also be applicable to other markets and industries in Asia. We look forward to this cooperation to leverage on Bergen Carbon Solutions technology and to expand the green carbon-nanofiber opportunities in Japan, “ Sagmo concludes.

ENDS

For additional information, please contact:

Jan B Sagmo, CEO, janbsagmo@bergencarbonslutions.com, +47 47372701

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.