Green Minerals AS signs agreement with global battery manufacturer

24 Nov 2022 08:00 CET

24.11.2022 08:00:00 CET | Green Minerals AS | Non-regulatory press releases

Asker, Norway - 24 November 2022 - Green Minerals AS (the "Company") is pleased
to announce that the Company has entered a framework agreement with a global
battery manufacturer (the "Client"). The agreement involves geological and
engineering support related to topics within key battery metals. The framework
agreement commences in Q4 2022 and will initially last through Q2 2023.

As part of the agreement, the Company will recognize its first revenue in Q4
2022. This represents a deviation from the original guidance given at the time
of listing on Euronext Growth, where the first revenue was expected to be
recognized in 2026. Revenue under the agreement is expected to be small.

"This agreement testifies to the technical and scientific competence at Green
Minerals. We are pleased to have achieved this recognition with a potential
client at the forefront of technological development in the battery industry. We
believe partnerships and cooperation across the entire value chain are the most
effective way to solve the colossal task of sourcing critical minerals needed
for the green energy transition in a sustainable manner. Green Minerals seeks to
be at the forefront of this development", comments Ståle Monstad, CEO of Green
Minerals AS.



CONTACTS

* Ståle Monstad, CEO, Green Minerals AS, +47 915 54 644,
staale.monstad@greenminerals.no

ABOUT GREEN MINERALS AS

Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental
Shelf. Our mission is to deliver minerals for the green energy transition in a
responsible and sustainable manner, thereby lowering the environmental impact
and reducing the social costs compared to onshore mining. The Company targets a
NOK 1,000bn resource potential on the NCS and targets pilot production to
commence in 2026. For more, visit www.greenminerals.no -
http://www.greenminerals.no

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848272/1904/2584/Download%20announcement
%20as%20PDF.pdf

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