Kyoto Group AS

Director's Dealing • Mar 19, 2021

Kyoto Group AS - Notification of primary insider transactions

Kyoto Group AS - Notification of primary insider transactions

Kyoto Group AS - Notification of primary insider transactions

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

OSLO, NORWAY - 19 March 2021 – The following primary insider transactions were executed as part of the private placement successfully closed on March 17th, facilitated by Fearnley Securities and SpareBank1 Markets:

Valinor AS, represented by board member and primary insider Pål Selboe Valseth, acquired a total of 320,000 shares at the price of NOK 62,50. Valinor's shareholding after the transaction is 720 000 shares.

Thoeng AS, represented by board member and primary insider Thorleif Enger, acquired a total of 24,000 shares at the price of NOK 62,50. Thoeng´s shareholding after the transaction is 24 000 shares.

Mocca Invest AS, 100% controlled and owned by Chairman and primary insider Eivind Reiten, acquired a total of 8 000 shares at a price of NOK 62,50. Mocca Invest´s shareholding after the transaction is 8 000 shares.

The information is such that Kyoto Group AS is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the Company's CFO, Camilla Nilsson at 18.00, March 19th 2021.

To learn more, visit www.kyoto.group For more information, please contact: Camilla Nilsson, CFO at +47 48 29 56 85 or camilla@kyoto.com.

Kyoto Group in brief

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.

The Company’s innovative, low-cost and modular solutions for thermal energy storage can use multiple renewable energy sources to heat molten salt up to over 500 degrees Celsius. The high-temperature salt is then used to produce steam or a combination of electricity and hot water for industrial use. The HeatCube also enables highly efficient balancing of the grid by storing cheap excess solar and wind power, with an unlimited number of cycles and at a significantly lower price than electrochemical batteries.

Kyoto Group’s business model includes both Battery as a Service (BaaS) through Build-Own-Operate with sale of heat/power, ancillary services and electricity arbitrage, as well as Battery as a Product (BaaP) agreements based on EPC or direct sales with a profit margin and long-term support, maintenance and service agreements.

Kyoto Group is experiencing strong momentum in developing and commercialising its thermal energy storage solutions for industrial use. Following product validation with two pilot installations completed in 2020, the Company is close to announcing its first two commercial projects with planned delivery to clients in Denmark and Germany in late 2021 and early 2022, respectively.