Circa Group, a company owned 27.7% by Norske Skog, will present their unique
biochemical technology at the virtual Oslo Børs and Pareto Securities' Cleantech
Seminar today at 12:20 to 12:40 CET. Circa Group is an Australian-based
biochemistry company converting waste biomass into advanced biochemicals through
its patented Furacell process. Its unique product portfolio is experiencing
significant attention in the industry as fossil and toxic chemicals are being
replaced with biochemicals at an ever-increasing speed. 

In a consortium with ten partners, Circa Group has established the “ReSolute”
project which aims to build a first-of-its-kind industrial plant for the
production of green biochemicals with annual capacity of 1,000 tonnes. The
ReSolute project has been recognised as an EU Flagship project, and it has
recently received a EUR 11.6 million grant from the EU funding programme for
research and innovation, Horizon 2020.  In second quarter 2020, Norske Skog
increased, subject to FIRB approval (foreign investment review board in
Australia), its ownership stake in Circa Group from 10.0% to 27.7%.

“Norske Skog has worked closely with Circa Group since 2015, when we joined
forces to build a 50 tonnes pilot plant at our Boyer mill in Tasmania,
Australia. At the end of Q2 2020, we significantly increased our position in
order to support Circa Group during the coming scale-up phase. Receiving the EU
grant is a key milestone for the company, and we are very excited to follow the
company going forward,” says Norske Skog Chief Executive Officer Sven
Ombudstvedt.

“We started developing our proprietary Levoglucosenone (LGO) production process,
the Furacell process, more than 10 years ago in an effort to discover high value
uses for waste biomass. LGO is a uniquely bio-privileged platform chemical that
can be used for sustainable and high quality production of medicines,
electronics, polymers and much more. Cyrene is one of the LGO derivatives that
is receiving significant commercial attention, and this biochemical forms the
basis for the ReSolute project,” says Circa Group Chief Executive Officer Tony
Duncan.

The ReSolute project is addressing the need for bio-based, higher-performing and
safer chemicals in Europe. By converting wood biomass, mainly sawdust, into
Cyrene, a novel, non-toxic and biodegradable solvent with wide application
potential, the project will have a positive environmental impact. Circa was
first able to successfully produce Cyrene at lab-scale back in 2009 together
with the University of York. Since then, Circa has worked to scale the
production from a few grams to several tonnes through five pilot plants. In
parallel, Circa has worked closely with universities, research agencies and
multi-national companies to develop the commercial market. The ReSolute project
will take place in France, and draws on more than a decade of technical and
commercial experience globally.

“The ReSolute project marks the culmination of both our ability to scale
production successfully and the commercial interest for industrial scale
volumes. To receive funding through the Horizon 2020 programme is very
difficult, so the recognition by the EU to support the project is a highly
appreciated milestone,” says Tony Duncan.

The Cleantech Seminar can be registered for and accessed through Oslo Børs and
Pareto Securities’ websites.


About Norske Skog
Norske Skog is a world leading producer of publication paper with strong market
positions and customer relations in Europe and Australasia. The Norske Skog
Group operates four mills in Europe of which two will produce recycled
containerboard following planned conversion projects. In addition, the Group
operates two publication paper mills and a pellets facility in Australasia.
Norske Skog aims to further diversify its operations and continue its
transformation into a growing and high-margin business through a range of
promising fibre projects. The Group has approximately 2,300 employees in five
countries, is headquartered in Norway and listed on the Oslo Stock Exchange
under the ticker NSKOG.


For further information

Norske Skog media:
Vice President Corporate Communication and Public Affairs
Carsten Dybevig
carsten.dybevig@norskeskog.com
 Mob: +47 917 63 117
Twitter: @Norske_Skog

Norske Skog investor relations:
Investor Relations Manager
Even Lund
even.lund@norskeskog.com
Mob: +47 906 12 919