Nordic Technology Group AS (NTG) has today entered into an agreement with
Johnson Control Inc.(JCI), regarding the sale of NTGŽs shares in its subsidiary
Hybrid Energy AS.
 
JCI will acquire 100% of the shares in Hybrid Energy AS from NTG and the
minority shareholders. The sale and purchase agreement of Hybrid Energy AS is
agreed upon at market based terms and conditions with immediate closing and
settlement.  
 
As Hybrid Energy will no longer be a subsidiary of NTG, NTGŽs parent company
bank guarantee exposure will be terminated. Hybrid Energy AS's wholly owned
subsidiary Hystorsys AS is not included in the transaction with JCI and will
remain as a stand-alone subsidiary in NTG after the transaction.
 
"I am pleased to announce that Johnson Controls as a world leader in smart,
healthy and sustainable buildings has acquired Hybrid Energy AS. With the
worldŽs largest portfolio of building technology, software and service solutions
and more than 100 000 employees across 150 countries, it is a quality
recognition that the technology platform and products of Hybrid Energy will be
included in the JCI portfolio. With many countries divesting from fossil fuels
and customers seeking to reduce emissions and energy spending, now is the time
for clean energy technologies to become available for use on a global scale,"
said Rune Rinnan  Chief Executive Officer of Nordic Technology Group AS.
"Between Hybrid EnergyŽs unique, patented heat pump technologies, the reach and
capability of Johnson Control, and the collective technical expertise of both
companies, we'll help advance a sustainable future by setting the standard for
high-temperature industrial heat pumps."
 
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Rune Rinnan, CEO, on 10 January 2023, at 10:55
CET.