Borregaard ASA: Increased utilisation of residuals from production processes as bioenergy

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Borregaard has today decided to invest NOK 131 million in a project aimed at increasing the use of bioenergy from production residuals at the Sarpsborg site in Norway. When completed in 2021, the bioenergy produced as a result of this project will be approximately 20 GWh per year, representing a reduction of CO2 emissions of 1,200 tonnes. Longer term there is a potential to increase production to 34 GWh per year, and a corresponding reduction of 1,400 tonnes CO2 emissions.

Enova SF, a state enterprise under the Norwegian Ministry of Climate and Environment, has decided to support the project by a grant of NOK 46.2 million, thus reducing Borregaard’s project cost to a net amount of NOK 85 million.

Sarpsborg, 19 June 2019

Contact:
Jørn Syvertsen, Director Investor Relations, +47 958 36 335

This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.