(Bergen, 8 November 2022) The Board in Bergen Carbon Solutions AS (Bergen Carbon
Solutions, OSE: BCS) has today decided to extend the timeline for the Høyanger
factory. 

BCS continues to improve the market understanding and the potential of the
technology. During the last number of months, the company has identified several
opportunities to further optimize the technology to reduce risk and improve the
overall business case. Among the improvements are several cost saving
improvements that can be implemented into future factory designs. More
flexibility on timing will also allow for these improvements to be implemented
into the facility in Høyanger. In addition, BCS has identified further product
configurations, with large volume possibilities, that can become part of the
future delivery strategy for the company. 

"The technological development in BCS never stops. We have now been presented
with an opportunity to further increase the energy efficiency of the core
technology with, among other, the implementation of a new separation technology.
This has the potential to significantly reduce risk and production cost. We also
see that there are further market potentials beyond what was originally the
plan, this needs to be explored more. An extended timeline for the Høyanger
facility will allow us to capture these potentials, reduce risk and improve the
overall business case" says Jon André Løkke, Chairman of the Board.

During the Q3 presentation tomorrow morning (Wednesday 9 November at 09:00), the
company will elaborate on the various technological opportunities as well as the
overall improved market understanding.

For further information, please contact: 
Finn Blydt-Svendsen, Interim CEO, fbs@bergencarbonsolutions.com, +47 930 40 797
Fredrik Øksnes, CCO, fredrik.oksnes@bergencarbonsolutions.com, +47 975 67 318

-ENDS-

About Bergen Carbon Solutions
Bergen Carbon Solutions aims to pioneer a new Norwegian industry for
ground-breaking, environmentally friendly material-technology. Bergen Carbon
Solutions utilizes CO2 and Norwegian hydropower to create carbon products such
as nanofibers, nanotubes, and graphite. Bergen Carbon Solutions is listed on
Euronext Growth under the ticker BCS.

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