Christopher Kjølner becomes CEO to lead thermal battery commercialisation

Oslo, 15 April 2021 - Kyoto Group AS is pleased to announce that Christopher
Kjølner today will assume the position as Chief Executive Officer (CEO) of the
company following his earlier appointment by the Board of Directors. Kjølner
(born 1972) brings with him over 20 years' experience from strategy, finance and
business development to lead the commercialisation of Kyoto Group's thermal
battery solutions. Christian Blom, who has been the acting CEO, will continue in
his role as Kyoto Group's Chief Operating Officer (COO).

"Kyoto Group has a strong renewable energy technology offering and clearly
stated ambition for growth. We are pleased to welcome Christopher, who together
with Christian and the rest of the team will drive the commercialisation of that
offering. We also thank Christian for his leadership through the Euronext Growth
listing", says Eivind Reiten, Chairman of the board at Kyoto Group.

"Today, the world is increasingly relying on renewable power sources, which
creates periods of differences between supply and demand in the energy market.
This is where our thermal batteries become highly relevant. Kyoto Group's
Heatcube makes it possible efficiently to store energy for use when it is
needed, not when the weather is right, ensuring stable supply of decarbonised
heat energy to industrial users", says Christopher Kjølner, the new group CEO.  

Kjølner has held various positions within large domestic and international
corporations including Skagerak Energi, Lorentzen & Stemoco, GE Power Conversion
and GE Renewable Energy, Nordea and in start-ups such as Scandwind. He also
holds various board positions. He holds a MSc in Business and Economics from the
Norwegian school of management (BI) and is a Norwegian citizen residing in
Norway.

For additional information, please contact:
CEO, Christopher Kjølner +47 90 53 19 62 or christopher@kyoto.group or CFO,
Camilla Nilsson +47 48 29 56 85 or camilla@kyoto.group.

About Kyoto Group
Kyoto Group aims to capture and manage the abundant energy from variable
renewable sources such as solar and wind power and apply it to reduce the CO2
footprint for industrial thermal loads. The Company, founded in 2016, plans to
operate and sell HeatCube thermal batteries with capacity from 5MW and upwards,
enabling industrial consumption of low-cost heat sourced from excess solar and
wind energy.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.