Q2 RESULTS SHOW PROGRESS ON RESOLUTE’S BUSINESS DEVELOPMENTS AND NEW SUPPORTING INSTITUTES

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Oslo, Norway - 25 August 2022 - Circa Group AS (Euronext Growth Oslo: CIRCA)
today announced its second quarter results. A webinar will be held at 08.30 CEST
(details below).

Project ReSoluteTM continues to achieve key milestones. Circa and Valmet signed a
Heads of Agreement during the second quarter, confirming the process technology
and equipment supplier as a partner for ReSoluteTM and follow-on plants.
Contracts with other major vendors are progressing as planned, and with basic
engineering complete, the next stage of the build is underway. Supply chain
pressures due to the conflict in Ukraine and carry-over from Covid remain a
concern, and Circa continues to work closely with equipment suppliers to
minimise impacts. 

"It has been a solid quarter for Circa, with good progress confirming our growth
plan is on track. With the Circa Renewable Chemistry Institute in place to
support customers transitioning to CyreneTM, we are a step closer to the use of
our products in industrial processes. And the appointment of Valmet as our
process technology partner puts Circa in the fast lane, as our industrial scale
plant "FC6" comes into view. These positive developments reinforce Circa's
ambition to be a large-scale producer of sustainable chemicals." says CEO Tony
Duncan.

The Circa Renewable Chemistry Institute (CRCI) at the University of York has
been agreed. The CRCI will work with customers to transition away from
petro-based solvents and grows Circa's capacity to develop targeted LGO
derivatives, including bio-polymers for home and industrial use. 

Commercial developments continued with an expansion on sectors where CyreneTM is
showing "outperform" properties. These include textile recycling, batteries,
graphene, carbon nano-tubes (CNT's) and other carbon related industrial
processes. New applications continue to be identified in published research
papers from around the world, where CyreneTM and other levoglucosenone (LGO)
derivatives show opportunities in large scale applications such as
de-sulphurisation in refineries, CO2 capture chemistry, and de-polymerisation of
lignin.  

Distributors' interest in CyreneTM remain strong and negotiations are moving
forward to expand channels for our flagship bio-based solvent. The prices of
competitor solvents have stayed at high levels and there is no indication that
the doubling, and in some cases tripling, of pricing due to petroleum-based
feedstock reliance will change in the medium term.

Philipp Morgenthaler commenced as Global Head of Manufacturing on 1 May 2022,
which coincided with the opening of the corporate office in Oslo. A new team
supporting the CFO in the areas of finance and legal started work during Q2.

The company remains well-funded following the EUR 50 million capital raising in
March 2021, further supported by grants from the EU and French Government.
Projections indicate a satisfactory financial runway. 

To access the complete Q2 report: https://circa-group.com/stock-announcements
To join the Q2 results webinar please copy and paste this link into your web
browser:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_Yjk3MGQ3NjQtNGFlYi00YzQzL
TlmNTMtYTVhOGQ0MTlkOGUz%40thread.v2/0?context=%7b%22Tid%22%3a%227fe83212-6533-49
bf-96c7-1c50525cb252%22%2c%22Oid%22%3a%22b5d8e996-8850-4133-9fce-bf140a9a7209%22
%7d

About Circa
Established in 2006, Circa Group converts non-food biomass into advanced
bio-based chemicals with its proprietary FuracellTM process. Its developing
product portfolio includes flavours, biopolymers, and bio-solvents including
CyreneTM. Circa's ReSoluteTM plant will produce green and sustainable solvents at
industrial scale by utilising local certified forest biomass, replace
conventional harmful solvents traditionally made from petrochemicals. The plant
will be the first of its kind to produce the bio-solvent CyreneTM at scale. By
creating renewable chemicals from cellulose, Circa is extracting value from
non-food, surplus biomass and contributing to industry as it transitions to a
more circular and decarbonised economy. Circa Group is listed on the Euronext
Growth Market in Oslo, stock symbol CIRCA.
www.circa-group.com

Investor Contact Circa Group                                                    
                   
Tone Leivestad, Chief Financial Officer
Circa Group AS
[email protected]
Tel: +47 406 39 455

Media Contact
Scott Engebrigtsen
Hill and Knowlton Strategies
[email protected]
Tel: +47 900 43 484

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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