(Bergen, 29 March 2023) Bergen Carbon Solutions AS (BCS, OSE:BCS) today provides
a strategy update for the pure-play carbon capture and utilization (CCU)
material company, enabling clean carbon for green manufacturing. The company
targets the fast-growing market for solid carbon to electric vehicles (EV)
batteries, has a multifaceted go-to-market model, and a solid financial runway
towards scaleup with approximately NOK 300 million in cash.

"Since joining the company earlier this year, I have worked closely with the
Board of Directors and the dedicated Bergen Carbon Solutions team to leverage
the opportunities provided by the company's groundbreaking technology. We make
clean carbon from harmful, excessive greenhouse gasses, and sees CCU as an
alternative to carbon capture and storage, securing control of raw material
delivery. In addition, we have strong competitive advantages to serve the EV
battery producers as we rapidly move down the cost curve and can replace
conventional, fossil based carbon materials," says Odd Strømsnes, Chief
Executive Officer of Bergen Carbon Solutions.

Bergen Carbon Solutions is the world's clean carbon technology and materials
company. With a proven process for carbon capture and utilization, Bergen Carbon
Solutions is enabling clean carbon for green manufacturing. The technology
ensures stable delivery of carbon nanotubes and graphite, helping manufacturers
to be less exposed to the raw material risks of geopolitical rivalry.

"There's a need to decarbonize industry, and carbon capture utilization and
storage needs to grow 120 times by 2050 for countries to achieve their net-zero
commitments, reaching at least 4.2 gigatons of CO2 captured per year. With full
acceleration, annual investments are expected to reach USD 120 - 150 billion by
2035. With our technology, we can both capture CO2 directly from flue gas and
run on captured CO2. From CO2 we make high-quality carbon products, tailormade
for the customer, ranging from small nano-particles to graphitic
macro-structured carbons," Strømsnes continues.

Bergen Carbon Solutions is targeting the fast-growing battery industry globally,
as batteries for EVs are today the largest contributor to the increased demand
for solid carbons in the form of anode graphite materials.

"We start with the industries with the highest demand and willingness to pay for
solid carbon. We have decided on a flexible triple treat go-to-market strategy
as we can serve as producer and supplier, as a technology provider and a
collaborator in this market," Strømsnes says.

Bergen Carbon Solutions will hold a strategy update presentation 08:30 a.m.
(CET) 29 March 2023, providing a deep dive into the following key elements of
the strategy:
o	Strong demand for carbon products and emission solutions
o	The technology roadmap is robust and unique 
o	Strong sustainability offering
o	Competitive cost advantages and roadmap for moving down the cost curve
o	Multifaceted go-to-market strategy
o	Solid financial runway towards scaleup with cash balance of NOK 293 million 

"We are fully funded to deliver on our key priorities going forward and will
focus on successfully executing our cost reduction program, optimizing and
verifying our technology, and entering into long-term commercial industrial
partnerships, both up and downstream, with focus on the battery vertical.
Fundamentally, we will continue our strong capital discipline to preserve our
runway towards and beyond commercial scaleup," Odd Strømsnes concludes. 

The strategy update presentation is enclosed.  

Presentation details:
Date: Wednesday 29 March 2023
Time: 08:30 CET
Language: English
Questions may be submitted in advance to
fredrik.oksnes@bergencarbonsolutions.com or live during the session.

Link to registration: https://norne.no/bergen-carbon-solution/

Address for attendance in person: Norne Securities, Jonsvollsgaten 2, Bergen

A recording of the presentation will be available on our website after the
session.

Link to webcast:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_YTJlMDJkN2ItMTQyYy00YmI2L
TlkODAtNGQxNGIwZjUzYzY3%40thread.v2/0?context=%7B%22Tid%22%3A%2209541643-bfcd-44
58-b6c4-62dffd52c81a%22%2C%22Oid%22%3A%22923f0bea-138e-4d71-9534-b1bc9be3ce0c%22
%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

ENDS

For further information please contact: 
Odd Strømsnes, CEO, os@bergencarbonsolutions.com, +47 480 88 571 
Fredrik Øksnes, CCO, fredrik.oksnes@bergencarbonsolutions.com, +47 975 67 318

About Bergen Carbon Solutions
Bergen Carbon Solutions is the world's clean carbon technology and materials
company. The company is making CO2 a valuable resource, using renewable energy
to turn the excessive greenhouse gas into solid carbon. With its groundbreaking,
proven process for carbon capture and utilization (CCU), Bergen Carbon Solutions
is enabling clean carbon for green manufacturing. The technology is ensuring
stable delivery of carbon nanotubes and graphite, helping manufacturers to be
less exposed to the raw material risks of geopolitical rivalry. Established in
2016, based in Norway and listed on Euronext Growth, Bergen Carbon Solutions is
targeting the fast-growing battery industry globally, and other carbon intensive
industries looking to replace conventional, fossil based solutions to stay
relevant in their markets.

Follow us on https://www.linkedin.com/company/berge-carbon-solutions-as/ 
Bergen Carbon Solutions | www.bergencarbonsolutions.com