Cambi’s large contract for the Bonnybrook project will not be extended

09 Feb 2023 08:00 CET

Asker, Norway, 9 February 2023

Due to budgetary uncertainty, the City of Calgary has decided not to extend
Cambi’s large contract to deliver thermal hydrolysis process (THP) systems for
their Bonnybrook wastewater treatment plant.

The contract was signed in the summer of 2016, with the THP initially planned
for commissioning at the end of 2019. Cambi carried out basic engineering for
the project, but the remaining project execution was delayed several times due
to budget constraints.

Cambi will remove the project from its order backlog after confirming that the
City of Calgary has forgone its option to extend the contract due to the
aforementioned budget constraint. This will have no significant impact on this
year’s financial results, as the latest project schedule envisioned commencement
in 2026.

The value proposition of adopting THP in Calgary remains strong, and Cambi is
optimistic there may be an opportunity to revive the project once the City of
Calgary finds resources to finance the investment.

For more information, please contact:
Mats Tristan Tjemsland, CFO, +47 920 67 094, mats.tjemsland@cambi.com


Note:
When announcing new contracts, Cambi describes the contract value using the
following classification:

Value in NOK million

Contract 15-50
Sizeable contract 50-100
Large contract 100-200
Major contract >200


About Cambi:
Cambi is a global biogas technology and solutions supplier for wastewater
treatment plants and anaerobic digestion facilities. Since 1992, Cambi has
retained market leadership through continuous innovation and a robust portfolio
of proven and patented technologies. With strong project delivery and customer
support capabilities, the company has delivered many well-performing
installations in 25 countries on six continents.
Cambi’s thermal hydrolysis process increases renewable energy output, reduces
operational costs, and minimises greenhouse gas emissions. It is suitable for
all biosolids outlets, including land application and thermal processes such as
drying, pyrolysis, and incineration. Thermal hydrolysis is compatible with all
sludge and waste treatment regulations and easy to integrate at new and existing
anaerobic digestion sites.
Cambi is listed on Euronext Growth Oslo, a multilateral trading facility part of
Euronext, the largest stock exchange platform in Europe. Find out more at
cambi.com.

More information:
Access the news on Oslo Bors NewsWeb site

581809_2023.02.09 - Press Release - Cambi’s large contract for the Bonnybrook project will not be extended.pdf