OSLO, NORWAY - 11 MAY 2023 - Circa Group AS (stock symbol: CIRCA) announced its
first quarter results today. A webinar will be held at 08.30 CET (details
below).
Significant progress has been made on the ReSoluteTM plant with contracts with
major vendors underway. The dossiers for the permanent environmental and
construction permits were submitted in the first quarter. We continue to face
headwinds on the cost side due to site specific infrastructure costs and
inflationary pressures.
With our engineering partner Valmet, development work is ongoing for the next
plant, known as FC6. We are working together on the initial FC6 concepts and
production opportunities - including optimising plant chemistry,
pre-fractionation and valorisation of side streams.
At our plant in Tasmania, FC5, where we have been producing CyreneTM since 2019,
we have seen customers including Merck place increasing orders during the first
quarter.
A supply and capacity reservation agreement with UK and European distributor
OQEMA was signed at the start of the year for the sale of CyreneTM, bringing the
reservation commitments for CyreneTM volumes to over 5,000 tonnes per annum, to
be supplied by Circa's ReSoluteTM plant and the next plant, FC6.
Circa Group AS CEO Tony Duncan said, "We see that the market for Circa products
is strong despite the current volatility across industry sectors. We are well on
track to deliver on our vision of replacing harmful, fossil-based solvents and
changing chemistry for good."
For further information, please access the complete Q1 report:
https://circa-group.com/stock-announcements
To join the Q1 results webinar please copy and paste this link into your web
browser:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZjUyNDA4N2ItNTcyNi00ZGNjL
Tk2NDUtYjNmODM0MjE3ZTUw%40thread.v2/0?context=%7b%22Tid%22%3a%227fe83212-6533-49
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About Circa
Established in 2006, Circa Group converts sustainable, 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. By creating renewable chemicals from cellulose, Circa is
extracting value from non-food biomass and addressing a gap in the market by
providing bio-based, less carbon intensive alternatives, contributing to a more
circular economy.
https://circa-group.com
Investor Contact
Tone Leivestad
Chief Financial Officer
Circa Group AS
tone.leivestad@circa-group.com
Tel: +47 406 39 455
Media Contact
Kathryn Sheridan
Sustainability Consult
ks@sustainabilityconsult.com