Circa Group AS

Climate Impact & Sustainability Data (2023)

FC5 plant completed a value mapping exercise and implemented improvement projects to reduce losses from the system and landfill, reduce water content of condensed feedstock, improve online monitoring system, and reduce re-processing and re-handling of material.
The Furacell™ production process has a near-zero forest-to-product carbon footprint.

No work-related accidents resulting in significant material damage or personal injury during the year.
Overall absence due to sick leave was low – below 1% of available working time in 2023.
Onboarding program for all staff with a focus on building common tools for projects and problem management.

Annual reporting on compliance with corporate governance requirements and recommendations based on the Norwegian Code of Practice for Corporate Governance.
Transparent and trustworthy cooperation between all stakeholders.

Long-term Goals:

Medium-term Goals:

Achieve production at ReSolute™ with a positive EBITDA contribution on a standalone basis.
Further development of the Furacell™ process to valorise side streams.

Short-term Goals:

Signing additional offtake agreements.
Reduce moisture content of incoming biomass to 10% with energy recovered from waste steam.
Construction and implementation of two 10,000 kg tanks to provide homogeneous feed for primary LGO distillation.

Volatile global chemicals market.
Scale-up trajectory requires access to capital.
Risks associated with plant construction (ReSolute™), including delays, cost escalation, permitting delays, and supplier failures.
Market risk related to future offtake agreements.
Intellectual property risk.
Financial risk (currency risk, liquidity risk, credit risk).
Material uncertainty exists related to the funding of the Group.

Focusing on offtake agreements for products.
Partnering with customers to balance volume and price.
Seeking support from governments and the EU for funding.
Implementing a systematic approach to risk handling and mitigation.
Working on project execution model to ensure quality and robustness for future projects.
Performing lessons learned processes and project evaluation before investment decisions.
Protecting intellectual property through trade secrets, confidentiality procedures, and contractual provisions.
Implementing financial risk management policies and standards.
Natural hedging for currency risk (holding cash deposits in EUR).
Seeking additional funding (approximately EUR 40 million needed).

Frameworks Used: IFRS

Third-party Assurance: PricewaterhouseCoopers AS