OSLO, January 12th, 2022: To further strengthen Kyoto Group's growth momentum,
and to support the development of existing and future commercial Heatcube
projects, Tim de Haas joins the Kyoto Group management team as Chief Commercial
Officer and Agnieszka Sledz as Chief Project Officer.

"We are pleased and honoured to announce two strong signings who both bring
significant commercial & technical experience and track record to the Kyoto
team. Expanding our portfolio of commercial Heatcube projects, to bring
renewable heat to the European industry is our priority, and we are working
every day to scale our organisation and business activities to deliver on our
strategy and mission," says Kyoto Group CFO and interim CEO Camilla Nilsson.

To drive the company's strategic initiatives and to increase the focus on the
commercial rollout, Tim de Haas joins Kyoto's management team as Chief
Commercial Officer by mid-February 2022. De Haas comes from the position of EVP
Human Health & Nutrition at Aker BioMarine where he has led international teams
securing commercial success and been a strong contributor to the evolution of
the company from a start-up to an industry leader with a strong international
footprint.

"Kyoto Group's vision, the company spirit, and the technological approach of
load shifting have impressed me. Kyoto has the technology required to take a
leading role in providing heat generated by renewable energy to meet growing
demands in various industries. I am looking forward to being part of a great
team that addresses the challenges in the energy sector and to contribute to a
greener future," says Tim de Haas about his new position in Kyoto. 

Prior to joining Kyoto, Tim has worked in several leading positions within
Aker's industrial portfolio company and was a driving force in the international
expansion as well as partnership development and management. Earlier on, he also
gained extensive experience as management consultant for Capgemini, developing
market entry and growth strategies for corporate companies in Europe and the
Middle East. Tim holds a master's degree in Economics from the University
Hamburg, Germany. Based on this solid strategic and commercial experience, Tim
will lead the commercial growth initiatives in Kyoto Group.

To secure that all Heatcube projects are installed on time and budget and with
the appropriate product certification, Agnieszka Sledz joined Kyoto Group from
January 2022 as Chief Project Officer, overall responsible for project
management and product certification. She is former Head of System & Engineering
at Clean Marine, having joined the company at an early start up stage and
contributed to its explosive growth and rapid development. Her significant
experience from managing large and complex technical projects for international
companies will further strengthen the engineering and technology team in Kyoto.

"I am happy to start my position with Kyoto. It is very exciting to join the
company at an early start up stage and to contribute to its development and
growth. It is my deep satisfaction to be involved in the energy transition
towards more renewable and affordable energy and contributing to the
decarbonization journey of industry. It feels great to be part of the change I
want to see in the word!" says Agnieszka Sledz.

Sledz has international industry experience from 6 years spent in South Korea as
project manager and site office manager for Bureau Veritas, where she was
involved in classification of new construction of LNG, LPG, container vessels
and FPSO for various global clients. She is a board member of WISTA Norway,
active member of TOOL and SHE Community, and holds a MSc in Naval Architecture
and has studied Design Thinking and Creativity in Business at INSEAD and
Organizational Design for Digital Transformation at MIT in Cambridge.

For more information, contact:
CFO and interim CEO 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 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