Oslo, Norway– 21 July 2024 – Circa Group AS (ticker: CIRCA) has previously reported that the company requires approximately EUR 40 million in new capital to cover remaining capex and opex related to the construction and commissioning of the Resolute™ plant in North-East France to end 2025.
The current management has, following further developments in the project and the company’s business plan, reached the conclusion that the total need of additional capital is approximately EUR 60 million to cover the total estimated cost of completing the ReSolute™ project and other Circa Group costs up to end 2026.
The company’s management team and board of directors are diligently continuing their efforts to raise the needed additional funding to complete the project and will provide updates on the process in due time.
About Circa
Established in 2006, Circa Group converts sustainable, non-food biomass into advanced bio-based chemicals with its proprietary Furacell™ process. Its developing product portfolio includes flavours, biopolymers, and bio-solvents including Cyrene™. By creating renewable chemicals from cellulose, Circa is extracting value from non-food biomass and addressing a gap in the market by providing bio-based, less carbon intensive alternatives, contributing to a more circular economy. https://circa-group.com
This announcement was published by Jens Even Højlund Pedersen, General Counsel, on 21 July 2024.
Investor Contact
Erik Berger
CFO
Circa Group AS
Erik.berger@circa-group.com
Tel: +47 908 55 033