Saga Pure - Share Issue/Capital Change 2021

Saga Pure ASA: Takes 33% stake in liquid hydrogen storage technology company

(Oslo, 25 March 2021) Saga Pure ASA (Saga Pure, OSE: SAGA) has committed to

subscribe for NOK 30 million in a private placement of new shares (the "Private

Placement") in IC Technologies AS (ICT), which is developing a novel storage

solution for liquid hydrogen and LNG. Following the Private Placement, Saga will

have an ownership of approximately 33% in the company.

"One of the crucial elements in the hydrogen value chain is storage,

distribution and transportation. Liquid hydrogen is the most energy dense form

of hydrogen, but current storage solutions for liquid hydrogen are not ideal, as

the hydrogen gradually evaporates over time. ICT has developed and patented a

new storage solution which involves active cooling, potentially eliminating

these losses as well as enabling a more flexible tank design. We're excited to

become a shareholder in ICT, and look forward to an active ownership in the

company through the board as the technology is being further developed," says

Bjørn Simonsen, CEO of Saga Pure.

ICT is a company based in Trondheim, Norway, developing new storage and

distribution solutions for cryogenic gases, which employs an active cooling

solution, potentially eliminating boil-off, as well as enabling a more flexible

tank design, and higher capacity utilization.

"We see hydrogen as one of the next, big megatrends, and believe the technology

being developed by ICT, can play an important role in transport and storage of

hydrogen on a global scale. The fact that the technology is also highly relevant

for storage and distribution of liquid natural gas, opens up interesting near

-term market opportunities as well," Simonsen concludes.

As part of the Private Placement, Saga Pure has entered an option agreement

which gives Saga the right to further invest NOK 30 million in the company.

Completion of the Private Placement is subject to the success of certain near

-term company milestones.

ENDS

For additional information, please contact:

Bjørn Simonsen, CEO, +47 971 79 821

Espen Lundaas, CFO, Saga Pure, +47 924 31 417

About Saga Pure ASA | www.saga-pure.com

Saga Pure ASA is an investment company focusing on opportunities within

renewable energy, hydrogen, circular economy and CO2-reduction.

About IC Technologies AS | www.ic-tech.no

IC Technologies AS is a company developing storage cryogenic distribution and

storage solutions for liquid hydrogen and LNG.

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