NOK 80 MILLION RAISED – MARKET CAPITALISATION OF NOK 380 MILLION
Oslo - 19 April 2021 – Euronext today congratulates Bergen Carbon Solutions on its listing on Euronext Growth Oslo (ticker code: BCS).
Bergen Carbon Solutions uses innovative technology to turn CO₂ emissions into carbon nanofiber, a material which is lighter than plastic, stronger than steel and leads electricity better than copper, and with wide-ranging applications from energy storage to protective clothing.
The company recently raised NOK 80 million through the issue of new shares. The shares were sold at NOK 11.75 and the company’s market capitalisation was NOK 380 million on the day of listing.
Jan Børge Sagmo, CEO of Bergen Carbon Solutions, said: “Going public on Euronext Growth Oslo is an exciting milestone for Bergen Carbon Solutions. We have the means and the technology to create value out of CO2 emissions, and the public listing will enable us to accelerate our value-creating business model whilst contributing to solving a major global challenge.”
Welcome: Øivind Amundsen, President and CEO of Oslo Børs, rang the bell with Jan Børge Sagmo, CEO of Bergen Carbon Solutions, during a virtual ceremony to celebrate the listing of the company this morning.
About Bergen Carbon Solutions Bergen Carbon Solutions AS ("BCS") is a Norwegian company based in Bergen. The company was founded in 2016 by current CEO Jan B. Sagmo and current COO Finn Blydt-Svendsen. BCS uses innovative technology to turn CO₂ emissions into carbon nanofiber (“CNF”), a material which is lighter than plastic, stronger than steel and leads electricity better than copper, and with wide ranging applications from energy storage to protective clothing. Rather than using natural gas to produce carbon nanofibers and with resulting CO₂ emissions, BCS uses CO₂ from existing emitters to produce the nanofibers leaving only O₂ emissions. Furthermore, the company’s production method consumes on average less than 10% of the energy relative to traditional CNF production methods, making the value chain CO₂ negative. The CNF is made by using modular production units that are based on two 40 feet containers stacked on top of each other with minimum two reactors. Each production unit can produce about 6.5 tonnes of CNF annually out of 30 tonnes of CO₂. BCS has a highly skilled team with knowledge in chemistry, engineering and business development.