Akastor ASA: Akastor signs agreement to sell Cool Sorption A/S

22 Dec 2022 14:00 CET

Akastor ASA (OSE: AKAST) has today entered into a share purchase agreement with
Diamond Key International Pty. Ltd. ("DKI") for the sale of all shares in Cool
Sorption A/S ("Cool Sorption") for DKK 20.4 million on a cash and debt free
basis. Cool Sorption is headquartered in Glostrup, Denmark, and is a specialist
supplier of Vapour Recovery Units (VRU) and systems.

"Cool Sorption operates in a highly specialist market in which they repeatedly
have proven their capabilities", says Karl Erik Kjelstad, CEO of Akastor. "I
truly believe that DKI will be an ideal owner for Cool Sorption, with a
complementary service portfolio that will help Cool Sorption to further expand
and grow within its markets."

Jacopo Bianchi, CEO of Cool Sorption states: "We are thankful for the continuous
support and guidance from Akastor over the past few years, enabling us to
further develop as a specialist provider of VRU products and services. We have
worked with DKI earlier and I am confident that under their ownership we will
see exciting future opportunities for our business."

Closing is expected to take place during Q1 2023.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

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About Cool Sorption

Cool Sorption A/S is a specialist supplier of Vapour Recovery Units (VRU) and
systems. Cool Sorption enjoys a complete product portfolio, which ranges from
small compact units to the industry's most complex systems, making it a
recognized technology provider worldwide. Cool Sorption generally considers
systems based on activated carbon to be the best available technology for
recovery of gasoline, crude oil and most other Volatile Organic Compound (VOC)
vapours.

For further information, please visit homepage: https://coolsorption.com/

About Akastor

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

For further information, please visit homepage: https://akastor.com/

About Diamond Key International

Diamond Key International (DKI) is a global leader in providing end-to-end
solutions to petrochemical storage and distribution. Headquartered in Melbourne,
Australia, DKI has more than 600 installed systems across terminals and related
facilities in more than 30 countries.

For further information, please visit homepage: https://diamondkey.com/

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