Bergen Carbon Solutions: Enters into LOI with Yara
(Bergen, 23 June 2021) Bergen Carbon Solutions AS (BCS, OSE:BCS) today announces a Letter Of Intent (LOI) with a Yara ASA (Yara) for the joint development of carbon capture and utilization (CCU) opportunities. “We´re excited to announce a LOI with Yara, highlighting the strong national interest for Bergen Carbon Solutions’ green carbon-nanofiber technology. Under the LOI we aim to enter into an agreement to jointly develop CCU opportunities and we look forward to work with one of the leading industrial companies in the world to leverage BCS’ EcoNano technology, “ says Jan B. Sagmo, CEO of Bergen Carbon Solutions. Bergen Carbon Solutions AS has entered a LOI with Yara for the joint development of carbon capture and utilization opportunities. The parties will immediately conduct a feasibility study at Yara’s industrial site at Herøya in Norway and target to enter into a final agreement during the autumn of 2021. 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. About Yara Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara’s ambition is focused on growing a climate positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain. To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries. Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2020, Yara reported revenues of USD 11.6 billion. Visit: www.yara.com