Investor relations news - 19. September 2023

Extension of MOU with TKG Huchems

Bergen Carbon Solutions is pleased to announce that our MOU with TKG Huchems has been extended. The extension is valid until September 2024, under the same terms as the original MOU.

The intent of the MOU is to produce Carbon Nano Tubes (CNT) utilizing technology from Bergen Carbon Solutions, targeting battery cell manufacturers in the Asian region. As part of the MOU, both parties will explore the possibility of establishing a CNT factory in Korea with an annual capacity of 10,000 tonnes.

Odd Strømsnes, CEO:

"The extension of the MOU underscores the dedication both parties have in elevating BCS's technology to the Korean CNT market. Following our quantum leap in product quality over the summer, it's particularly encouraging for us that Huchems has taken the initiative to extend our original MOU by a year. It affirms that our collaboration is moving in the right direction and takes us a significant step closer to commercializing our technology."

Huchems and Bergen Carbon Solutions will proceed with discussions centered around the commercialization of Bergen Carbon Solutions’ technology and products in South Korea.

Huchems operates 14 plants across Korea, primarily serving the fine chemical market. They stand as a leading producer of chemicals, with products including nitric acid, ammonium nitrate, DNT, and MNB.