Oslo, Norway - 24 May 2022 - Circa Group AS (Euronext Growth Oslo: CIRCA) today
announced its first quarter results. A webinar will be held at 08.30 CEST today
(details below).

The ReSoluteTM project in France has continued to progress well, with
considerable work undertaken with suppliers during the quarter. 

An important milestone was reached on May 20 when Circa announced that a Heads
of Agreement had been signed with Valmet to realise and optimise the FuracellTM
production process at scale through the ReSolute project and future large-scale
plants. Valmet will be the main supplier of key processing equipment, and
actively contribute to accelerating the development of Circa's large-scale
production plants. 

Work with other suppliers also moved forward with a focus on optimisation of the
distillation process and feedstock trials getting underway.

"Working with strong industry partners such as Valmet considerably strengthens
Circa's ability to deliver our growth plan to produce 80,000 tonnes of CyreneTM
per annum by 2030. Securing strategic suppliers demonstrates the enormous
opportunity of the sustainable biochemicals market. This underlines the
foresight of jurisdictions that fund new green industry, such as the French
government, which has provided Circa with consistently positive support. And now
with our Global Head of Manufacturing on board Circa is very well positioned to
accelerate progress on future plants" says CEO Tony Duncan.

Circa's ReSolute plant will produce green and sustainable solvents at industrial
scale by utilising local biomass to manufacture CyreneTM, which can replace
conventional harmful solvents traditionally made from petrochemicals. Biochar
from the process will be used as a renewable energy source to reduce cost and
the overall plant footprint. 

In early Q122 it was announced that Circa was awarded EUR 8.2 million from the
French government for the development of the ReSoluteTM plant in Eastern France,
as part of the 'France Relance' programme. 

Circa also announced a price increase, 25% for LGO, and 15% for the CyreneTM
product portfolio in all markets. Market support continues to grow with
discussions on sales contracts underway with two European distributors. 

The company remains well-funded and projections indicate a long financial
runway. Circa does not expect significant sales revenue prior to commissioning
and start-up of the ReSoluteTM plant in the second half of 2023.

To join the Q1 results webinar please copy and paste this link into your web

About Circa
Established in 2006, Circa Group converts waste, non-food biomass into advanced
bio-based chemicals with its proprietary FuracellTM process. Its developing
product portfolio includes flavours, biopolymers, and bio-solvents including
CyreneTM, an alternative to traditional polar aprotic solvents. By creating
renewable chemicals from cellulose, Circa is extracting value from non-food,
surplus biomass and contributing to industry as it transitions to a more
circular economy. In March 2021, Circa Group listed on the Euronext Growth
Market in Oslo, stock symbol CIRCA.

Investor Contact Circa Group                                                    
Tone Leivestad, Chief Financial Officer
Circa Group AS
to[email protected]
Tel: +47 406 39 455

Media Contact
Scott Engebrigtsen
Hill and Knowlton Strategies
[email protected]
Tel: +47 900 43 484

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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