Oslo, Norway 6 February January 2023 - Kyoto Group is pleased to announce that
it has signed a Letter of Intent (LOI) with Kaura Coproducts of Seville, Spain,
to supply a Heatcube thermal energy storage solution.

Kaura Coproducts is dedicated to the production of high-added-value raw
materials for pet food and aquafeed, as well as the revaluation of animal by
-products for the energy sector.

The intention is to substitute 40 percent of the current consumption of fossil
fuels with the Heatcube so to provide stable and sustainable heat generation for
the production process.

The Heatcube planned for installation at the facility will have 80 MWh of
thermal storage capacity, with a charge capacity of 10 MW and a discharge
capacity of 5 MW. Total heat consumption at the facility is 24 GWh per year. It
is planned for operation for 17 hours, 5.5 days per week.

"A sustainable use of resources is at the heart of our business. We want to
extend this to energy resources by shifting from fossil fuels to renewable
energy sources. To achieve this, we need energy storage, and the Heatcube is
perfectly positioned for the process heat that we need," says Juan Cabotá
Jiménez, Head of Communication of Kaura Coproducts.

Pending final negotiations, the installation is estimated to happen in the first
half of 2024.

"We're excited about the cooperation with Kaura, which again illustrates the
potential for Kyoto in the Spanish market, where the basic idea of using molten
salt to store heat is broadly accepted due to its use in concentrated solar
plants. It also illustrates the demand for sustainable heat in the agricultural
industry," says Tim de Haas, Chief Commercial Officer of Kyoto Group.

Kyoto's 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 through the
use of intermittent renewable energy sources instead of fossil fuels for heat
production.

The Kyoto Heatcube can be configured with storage capacities from 16 MWh to over
96 MWh, with a discharge effect for each Heatcube of up to 5 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 450 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 half 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).

About Kaura Coproducts

KAURA COPRODUCTS is a company dedicated to the production of high added value
Raw Materials for petfood and aquafeed, as well as the revaluation of animal by
-products for the energy sector. All this is carried out thanks to its brands,
RENFEED and RENBIO.