Oslo, Norway, 31 August 2026: Cloudberry Clean Energy ASA ("Cloudberry" or the
"Company") is pleased to announce the successful completion of the acquisition
of a Nordic renewable energy platform from Orrön Energy Holding AB, as announced
on 25 June 2026 (the "Acquisition"), establishing Cloudberry as a leading Nordic
IPP. The transaction adds approximately 758 GWh of annual proportionate power
production from a complementary asset base, bringing Cloudberry's total annual
proportionate production to approximately 2.1 TWh, a near doubling compared to
year-end 2025.
The Acquisition significantly strengthens Cloudberry's position across the
Nordic power markets, with an enlarged and diversified platform active across
all Nordic price areas. With increased scale, greater diversification and
identified operational synergies, Cloudberry is well positioned to capitalize on
opportunities created by the energy transition and deliver long-term shareholder
value.
As part of the completion, the Board of Directors has today resolved to issue
124,378,083 new shares in the Company at a subscription price of NOK 13.50 per
share (the "Consideration Shares") as partial settlement for the Acquisition.
The issuance of the Consideration Shares is made pursuant to the Board of
Directors' authorization to issue new shares granted by the Company's Annual
General Meeting on 23 April 2026 and Extraordinary General Meeting on 4 August
2026. Of the Consideration Shares, 75,866,410 shares will be issued on a
separate ISIN until a prospectus has been approved by the Financial Supervisory
Authority of Norway and issued. The remaining 48,511,673 shares will be issued
on the Company's ordinary ISIN and listed.
Following the issuance of the Consideration Shares, the Company's share capital
will be NOK 115,115,755.25, consisting of 460,463,021 shares, each share with a
par value of NOK 0.25.
Upon completion, Orrön Energy AB ("Orrön Energy") has become Cloudberry's
largest shareholder, with 27.01% of the shares and votes in the Company,
bringing industrial and value creation experience from the Lundin Group of
Companies. Cloudberry's Board of Directors has also been expanded to include
Daniel Fitzgerald, CEO of Orrön Energy, and Henrika Frykman, General Counsel of
Orrön Energy.
For more information about the Acquisition and the strategic rationale behind
the transaction, please see the stock exchange announcement published by the
Company on 25 June 2026.
For further information, visit our company and IR website www.cloudberry.no or
contact:
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Ole-Kristofer Bragnes, CFO, +47 917 03 415, okb@cloudberry.no
This information is subject to the disclosure requirements pursuant to Section 5
-12 of the Norwegian Securities Trading Act and Euronext Oslo Børs Rule Book II
- Issuer Rules.
About Cloudberry Clean Energy
Cloudberry is a renewable energy company operating in the Nordics and in
accordance with local traditions. The Company owns, develops and operates
hydropower plants, wind farms and battery storage in the Nordics. Cloudberry is
powering the energy transition to a sustainable future by providing new
renewable energy today and for future generations. The Company believes in a
fundamental long-term demand for renewable energy in Europe. With this as a
fundament, Cloudberry is building a sustainable, scalable, efficient and
profitable platform for creation of shareholder value. Cloudberry's shares are
traded on Oslo Stock Exchange's main list (Oslo Børs), supported by strong
owners and led by an experienced team and board. The Company has offices in
Oslo, Norway (main office), Karlstad, Gothenburg and Eskilstuna, Sweden and
Lemvig, Denmark.
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