Bergen Carbon Solutions AS today provides an operational update and financial results for the third quarter of 2025.
“The third quarter of 2025 is marked by substantial technological progress for Bergen Carbon Solutions. After several years of intensive development work, we are now entering a more mature phase where we can consistently reproduce CNT at a certain quality. We now operate from what we define as a controllable process platform. This marks an important milestone for BCS and will be the foundation for the next steps in our development,” says Odd Strømsnes, CEO of Bergen Carbon Solutions.
Focus during the quarter has been on achieving process stability and a deeper understanding of the underlying mechanisms in growing CNT within the molten salt carbon capture electrolysis technology. The technology is complex, but the company now sees a clear correlation between key process parameters and powder consistency. The platform now established enables targeted optimisation and larger-scale testing in the coming quarters.
With a stable process now established, BCS will start to produce larger test volumes of carbon powder for internal and external validation. The material is currently being tested in the BCS battery lab, and will be tested by external partners across both Lithium Iron Phosphate (LFP) and Lithium-Sulfur (Li-S) chemistries going forward. Early results for Li-S are promising and confirm that the BCS material can play a role in next-generation battery systems. Together with partners, the company is also preparing for test runs on larger cell formats.
“We remain confident that BCS’ novel technology will find its relevance in particular niche markets where performance, sustainability, and supply chain resilience are weighted more than conventional specifications. Competing head-on with established fossil based CNT producers is not our goal. We aim to develop unique carbon materials with distinct properties and real application value. The Li-S battery chemistry is one such example, representing a long-term opportunity aligned with Europe’s strategic push for alternative technologies,” says Strømsnes.
Financially, cost discipline remains strong, and the burn rate year-to-date is around half of what it was last year. In early November BCS received confirmation of significant grant from Innovation Norway, which will strengthen and de-risk the development of the electrolysis technology over the next three years. This is an important recognition of the company’s work and adds both stability and momentum going forward.
“We also strengthened our organisation by establishing an international Advisory Board, adding deep industry experience from global materials and battery companies. Their insights are already contributing to the strategic direction of BCS, in particular towards market recognition and various market adaptions,” says Strømsnes.
Global developments continue to underline the relevance of what BCS is doing. China’s recent export restrictions on advanced battery technology and upcoming EU-programs on battery industry support illustrate the growing importance of local, sustainable material production in Europe. These geopolitical and regulatory trends reinforce the company’s position and the value of developing carbon materials based on local carbon capture and renewable energy.
“In summary, the third quarter confirms that we now have an established and predictable process, a growing interest from partners, and clear external support through both funding and collaboration. The coming period will focus on testing, optimisation, and further strengthening our technology platform for future industrialization,” says Odd Strømsnes, CEO of Bergen Carbon Solutions.
Recording of the presentation:
https://www.youtube.com/watch?v=UXXciHZMm98
The presentation and financial report for Q3 2025 are enclosed.