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    CARBN   NO0010778095

CARBON TRANSITION ASA

(CARBN)
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Wayne Thomson has been appointed Strategic Advisor in the carbon capture area for Carbon Transition ASA

11/09/2021 | 01:01am EST
Oslo, 9 November 2021Carbon Transition (the "Company") is pleased to announce the appointment of
Wayne Thomson as Strategic Advisor in the carbon capture area for the Company.
Mr. Thomson's career spans more than 45 years internationally with focus on the
oil and gas industry and more recently the carbon capture technology area.

Most recently and up until 2021, Mr. Thomson was Chairman of Svante Inc., the
Canadian carbon capture technology company. Mr. Thomson was Chairman in a key
period of Svante Inc's development and growth stage between 2015 and 2021, and
also held the position as Executive Chairman for a period.

«We are very pleased to have secured Wayne Thomson as a strategic advisor for
Carbon Transition. His vast international industrial and corporate development
experience, will be a very valuable asset for Carbon Transition to utilise going
forward. His most recent experience from being Chairman for Svante Inc., the
carbon capture technology company, is very attractive for Carbon Transition in
our focus on investments in the carbon capture and reduction area going
forward,» says Gisle Grønlie, Chairman of the Board for Carbon Transition.

"I am looking forward to my involvement with Carbon Transition. There are very
attractive investment opportunities available in technology during this very
necessary carbon transition period.  We must meet our energy needs at reasonable
cost while reducing our carbon footprint,"
stated Wayne Thomson.

Mr. Thomson also has been on the board of directors in companies like Cenovus,
Encana,and Maha Energy (Chairman), to name some of his directorships.

Mr. Thomson also served as President of Petrocorp Exploration Limited (Fletcher
Challenge) in New Zealand, Vice President Production of AEC Oil and Gas, as well
as the Chief Reservoir Engineer of Maersk Oil and Gas in Denmark to name some of
his work experiences.

For further information, please contact:

Gisle Grønlie, Chairman of the Board
gisle.gronlie@magnoraasa.com
+47 917 51 194

Nils Haugestad, CFO
nils.haugestad@carbn.no
+47 977 04 439

About Carbon Transition ASACarbon Transition ASA ("CARBN") is an investment company listed on Euronext
Expand. CARBN has a strategy to invest in companies and technologies which
contribute to significant reductions of carbon emissions. The company may also
invest more broadly in the "energy transition" space. CARBN has a legacy seismic
business operating under the name Axxis Geo Solutions, with both an ocean-bottom
seismic contract business and a multi-client data library.
More information on www.axxisgeo.com

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

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials (USD)
Sales 2020 92,8 M - -
Net income 2020 -3,13 M - -
Net Debt 2020 28,1 M - -
P/E ratio 2020 -11,5x
Yield 2020 -
Capitalization 34,4 M 34,5 M -
EV / Sales 2019 0,13x
EV / Sales 2020 0,35x
Nbr of Employees 10
Free-Float -
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Managers and Directors
Nils Christian Haugestad Chief Executive & Financial Officer
Bjorn Gisle Gronlie Executive Chairman
Rick Dunlop Executive Vice President-Operations
Njňl SŠvik Director
Nina Skage Director