Oslo, Norway 12 July 2023 - Kyoto Group is pleased to announce that the first
ever full-scale Heatcube, at the Nordjylland Power Station in Aalborg, Denmark
("Norbis Park") has now been connected to the grid and the high voltage
connection between the transformer building and the world's largest electrical
heater for molten salt, as a key equipment of Heatcube, has been successfully
commissioned.

The connection and electronical testing of the heater were accompanied by a team
of technicians from Vulcanic, the Spirax Sarco company that has delivered the
electrical heater to Heatcube at Norbis Park and that recently invested in and
signed a long-term Partnership Agreement with Kyoto Group, covering commercial
roll-out and technology development related to the electrical heater for future
generations of Heatcube.

"We are proud of the smooth and successful introduction of the world's largest
electrical heater for molten salt and are looking forward to the large-scale
commercial roll-out of Heatcube as well as the further development of the
technology together with Kyoto Group," says Christopher Molnar, Managing
Director of Vulcanic and incoming board member of Kyoto Group.

Heatcube is now monitored and controlled using the Battery Management System
(BMS) from a remote control room or locally at the panels, by the commissioning
engineers. The BMS enables all equipment and assets for testing and protects
Heatcube using automatic safety measures which are now installed.

"Today marks a momentous milestone in our journey as a leading technology
provider to the net-zero society," says Kyoto's Chief Project Officer Agnieszka
Sledz. "We are about to successfully conclude our groundbreaking project that
not only showcases the capabilities of our technology as well as our
organization but also sets a precedent for thermal energy storage as an enabler
to electrify industrial process heat."

The final step in the hot commissioning process for Heatcube at Norbis Park is
to circulate molten salt through Heatcube to discharge steam from the steam
generator, which is planned for the second half of July.

About Heatcube

Kyoto Heatcube provides thermal energy storage and heat generation in one
product. It supplies industrial customers with the technology needed to lower
both their costs for producing process heat and their CO2 emissions using
intermittent renewable energy sources instead of fossil fuels for heat
production.

Heatcube can be configured with storage capacities from 16 MWh to over 96 MWh,
with a discharge effect for each Heatcube of up to 20 MW. It is an innovative,
low-cost, and modular storage solution for thermal energy that can use multiple
renewable energy sources to heat molten salt to over 415 degrees Celsius. The
high-temperature salt is then used to produce steam for industrial production
processes.

For further information, please contact:

Håvard Haukdal, Kyoto Group CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

About Kyoto Group

Heat accounts for two thirds of industrial energy consumption. Traditionally,
nearly all of it is based on fossil fuels. Kyoto Group's Heatcube, a thermal
energy storage (TES) solution, provides a sustainable and cost-effective
alternative by capturing and storing abundant but variable energy from sources
such as solar and wind. Founded in 2016, Kyoto Group is headquartered in Oslo,
Norway, and has subsidiaries in Spain and Denmark. The Kyoto share is listed on
Euronext Growth (ticker: KYOTO). www.kyotogroup.no

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc is a leading global thermal energy management and
fluid technology solutions Group that aims to deliver sustainable value to all
its stakeholders through engineering a more efficient, safer and sustainable
world.  Headquartered in Cheltenham (UK), the Group comprises three
world-leading Businesses: Steam Specialties, for the control and management of
steam