(Bergen, 04. November 2025): Bergen Carbon Solutions AS (BCS, OSE: BCS) is pleased to announce that the company has been awarded a grant for development of sustainable technology of up to NOK 30.3 million from Innovation Norway. The total project budget is 67 MNOK over the next three years. This strategic support will strengthen BCS’s growth potential and reduce risks related to the further technology development of sustainable carbon materials for the battery industry, reinforcing the company’s position at the forefront of green technology.
BCS technology is brought forward on the bases of the accumulated competencies within material technology and process know-how built up over many years from several key industries in Norway.
The grant from Innovation Norway is a strong recognition of BCS’s innovative approach to converting CO₂ into advanced carbon materials using electrolysis. This locally based process eliminates the need for import of fossil raw materials and requires only about ten percent of the energy used in conventional production. By utilizing CO₂ as a feedstock, BCS significantly reduces emissions and contributes to a more sustainable value chain for battery manufacturing.
The project, supported by Innovation Norway, will focus on expanding the carbon powder product portfolio—critical raw materials that have the potential to enable lighter batteries with longer lifespans, higher energy density, and reduced material consumption. The technology is relevant for a number of emerging battery chemistries which could further strengthen Norway’s position in the European battery value chain.
“We are grateful for the confidence shown by Innovation Norway. Their support is building robustness for our business case to bring our sustainable materials faster to the market,” says Odd Strømsnes, CEO of Bergen Carbon Solutions.
BCS is actively looking for strategic partnerships and collaborations with the industry and continues to engage with leading chemical companies and automotive manufacturers. The company is headquartered in Bergen, with offices, laboratories, and test facilities at Flesland, and has clear ambitions for international growth.
For further information, please contact:
Odd Strømsnes, CEO, os@bergencarbonsolutions.com, +47 480 88 571
Karina Brudeseth, CFO, karbru@bergencarbonsolutions.com, +47 413 43 381
This information constitutes inside information pursuant to article 7 in the EU Market Abuse Regulation and is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement was published by Karina Brudeseth, CFO, on 04. November 2025 at 16:55 CET.
About Bergen Carbon Solutions:
Bergen Carbon Solutions is a technology company in the field of carbon utilisation. The company is working to make CO2 a valuable resource, using 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 the battery industry. The technology may provide 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.
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Bergen Carbon Solutions | www.bergencarbonsolutions.com