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Beskrivning

LandNorge
ListaEuronext Growth Oslo
SektorEnergi & Miljö
IndustriEnergikällor
Kyoto Group är verksamma inom energisektorn. Bolaget utvecklar vind- och solenergiteknik och tillhörande kringtjänster. Produkterbjudandet inkluderar termiska batterier som möjliggör energihantering från förnybara energikällor. Bolaget är primärt verksamma inom industrisektorn på den skandinaviska marknaden. Kyoto Group grundades 2016 och har sitt huvudkontor i Oslo, Norge.
2022-04-28 08:00:00
Kyoto Group Annual Report 2021

Oslo, 28 April 2022 - Kyoto Group AS ("Kyoto Group") today published its Annual
Report for 2021. The company is fully engaged in executing its growth strategy
of becoming the long-term viable provider of thermal energy storage in the
Nordic market. Kyoto Group is rapidly developing its service offering to meet
the growing industrial demand for heat produced by electricity amid the
increasing pressure to phase out fossil fuels and is targeting steep growth
already for 2022.

Key events:

OPERATIONAL

o Pilot test finalized and converted to R&D test center
o New board established with extensive industry and renewable energy competence
o Appointed new interim CEO, CFO and CTO
o Growing the Executive Management Team to support growing organization and
increase commercial focus
o Scaling organization with 14 additional FTEs to execute on long-term growth
strategy
o First full-scale Heatcube thermal battery ordered for commercial installation
as a demonstration unit at Nordjyllandsværket
o Ongoing activities to broaden project pipeline with leads in the Nordic region
o Maturing multiple industrial prospects for commercial Heatcube projects in
Europe together with partners

FINANCIAL

o Raised NOK 183.9 million of new equity in from four private placements in the
first half of 2021
o Shares admitted to trading on Euronext Growth from 24 March
o End of 2021 cash position of NOK 117 596 065

Kyoto Group disconnects the time power is made from when it is used by
leveraging increasing energy market fluctuations and excess power from wind and
solar. The Company offer competitive, reliable, and efficient storage of energy
and seamless delivery of heat to industrial customers, when it is needed.

"For Kyoto Group, 2021 was all about building capacity for the future scale.
From working actively with business development and sales to developing our
culture and organization, while nurturing partnerships and expanding our
supplier network. Every area within our scale-up, green energy organization is
solidifying and developing beyond our start-up roots," says Kyoto Group CEO
Camilla Nilsson.

In order to fund growth, Kyoto Group raised NOK 183.8 million of new equity
during the first half of 2021, followed by a listing on Euronext Growth in Oslo
in March. In July, Kyoto Group placed an order for the first Heatcube thermal
battery, to be installed as a commercial demonstration unit. In November, Kyoto
Group signed its first commercial contract for the Heatcube thermal battery
solution under a battery leasing agreement with Aalborg Forsyning in Denmark. At
31 December 2021, the Company's cash position was NOK 117.6 million.

The Annual Report for 2021 is attached to this release.

Webcast at 10:00 CEST:

CEO Camilla Nilsson and Chief Commercial Officer Tim de Haas will present the
company's results today at 10:00 CEST, and invite investors, analysts and media
to join the webcast presentation. The presentation is expected to last about one
hour, including Q&A.

Please register to join the webcast via the following link:
https://www.kyoto.group/annual-report-2021

A recorded version of the presentation will be made available at www.kyoto.group
after the presentation has concluded.

For additional information, please contact:
Kyoto Group CFO and CEO Camilla Nilsson +47 48 29 56 85 or camilla@kyotogroup.no


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. This stock exchange announcement
was published by Camilla Nilsson, CEO and CFO in Kyoto Group AS, on 28th of
April 2022 at 08.00 CEST.

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 plans to lease & operate and
sell Heatcube thermal batteries with capacity from 5MW, enabling industrial
consumption of low-cost heat sourced from excess solar and wind energy.

www.kyoto.group