Green Minerals — Capital/Financing Update 2021

Apr 13, 2021

Green Minerals receives Government development grant from Forskningsrådet

Green Minerals receives Government development grant from Forskningsrådet

Green Minerals AS (“The Company”) today announces that Forskningsrådet, one of the Norwegian Government`s key vehicles to help finance innovation- and research projects, has granted development support to the Company through Skattefunn of NOK 1,9m. The risk-reduction support is provided towards further development of the Company`s proprietary DeepMineX© (pending) software, key to the decision-gates in deep sea exploration and mining.

“Norway is well positioned to take the lead globally in extracting the marine minerals and rare earth elements needed for the green energy transition. A strong cooperation between companies, authorities and investors are needed, and we are pleased to see this grant from Forskningsrådet”, says Ståle Rodahl, Executive Chairman of Green Minerals AS.

ABOUT GREEN MINERALS:

Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental Shelf. Our mission is to deliver minerals for the green energy transition in a responsible and sustainable manner, thereby lowering the environmental impact and reducing the social costs from onshore mining. The Company targets a NOK 700bn resource potential on the NCS and expects pilot production to commence in 2026. For more, visit www.greenminerals.no

Contacts:

Ståle Rodahl

Executive Chairman

Ph: +47 4840 0593