Temporary 25% reduction of furnace operations at Lillesand plant

Fiven Norge AS has received a letter from the Norwegian Environment Agency (NEA) dated September 1st in which they have ordered the stoppage of 2 furnace groups for the plant in Lillesand, Norway. This order applies for the remainder of 2022 and equates to 25% of the furnace capacity in Norway. The decision is based on a projection of SO2 emissions for 2022. In compliance with the directive mentioned above, Fiven Norge has stopped two furnace groups with effect from September 1st. 

Silicon carbide is an essential material in the green shift, and Fiven takes the task very seriously to reduce our activities' negative environmental and climate footprint. We work proactively to achieve increasingly stringent emission requirements and have already taken concrete measures to comply with the demands from the Environment Agency.

Fiven wants to state the following: 

• Fiven Norge continues to strive for 100% emission compliance and, in 2021, achieved 18 out of 20 set targets. We have accelerated this work and will launch the next wave of furnace group cover in January 2023. 
• No proven technology is readily accessible in the market to deliver the solutions in time to meet the emission requirements.
• Fiven is developing the best available technology and works hard to create and implement new and innovative cleaning technology as quickly as possible.
• So far there has been invested 120M NOK in the emissions reduction program, and significant further investments are planned.
• Fiven focuses on delivering the technology to ensure full compliance with emission targets in time. Our emissions targets are in line with Norwegian authorities.    
• The pandemic and global supply chain challenges have delayed the work's execution.

As a world-leading producer of silicon carbide, Fiven is fully committed to sustainable production. We have a long history in Norway and continue to be committed to sustainable operations in the region.

For more information:

Atanas Chapkov, General Manager, Fiven Norge AS
Email: atanas.chapkov@fiven.com

Stein Erik Ommundsen, Group CFO and General Manager
Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
stefan.mokros@fiven.com

This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:30 CET on 2 September 2022.

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