Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainable Investments
• EU Taxonomy for Sustainable Investments
• Supply chain disruptions

Environmental Achievements

• Optimized production and supply chain; Reduction in investments MNOK 8-10

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions has led to the competing polyacrylamide becoming a scarce resource with raising prices and limited supply.

Mitigation Strategies

• Expansion to central Europe via outsourcing of production and logistics

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Corporate governance
• Sustainable Development Goals (SDGs)

Environmental Achievements

• Using biodegradable materials instead of polymer-based coagulants and flocculants to eliminate microplastic pollution.
• Reducing final discharge levels, contributing to lower CO2 emissions and greater reuse of water.

Social Achievements

• Strengthening the team with employment of Director of Operations in Germany.
• Establishing a closer relationship to customers, suppliers, and manufacturers in Germany to secure a centralized sales organization and distribution network in Europe, access to important raw materials, efficient logistics, and large-scale production of Norwafloc®.

Governance Achievements

• Foundation of M Vest Water GmbH in July 2022.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions have led to polyacrylamide becoming a scarce resource in Europe with rising prices and limited supplies.
• Europe is facing increasingly stringent regulations for depositing sludge containing synthetic polymers.
• Users of competitive coagulants, such as Ferric Chloride, now face severe supply problems due to the scarcity of hydrochloric acid.

Mitigation Strategies

• Outsourcing and local production in Germany gives cost savings and efficient delivery to customers in Central Europe.
• Securing access and good logistics to raw material for Norwafloc® products.

Supply Chain Management

Responsible Procurement

• Securing access to raw materials for Norwafloc® production.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN SDGs

UN Sustainable Development Goals

• At least 8 of the 17 SDGs

MVW's products and technologies provide environmental benefits and support at least 8 of the 17 SDGs.

Sustainable Products & Innovation

• Norwafloc®
• Norwapol

Environmental Metrics

ESG Focus Areas

• Environmental responsibility
• Water treatment efficiency
• Sustainable solutions

Environmental Achievements

• Significant strides towards a zero-discharge future
• Substantial improvement in water treatment efficiency at SAR Mongstad
• Developed a complete solution for water and sludge management in salmon slaughterhouses complying with new discharge regulations
• Reduced chemical consumption (Ferric Chloride and Calcium) by 75% in municipal sewage sludge dewatering pilots in Germany

Social Achievements

• Long-term agreement with SAR Mongstad, providing predictable annual recurring revenue and extensive technical support
• Partnership with Bioretur AS and Downstream Marine AS for a complete bloodwater and sludge management treatment solution for salmon slaughterhouses
• Share based option plan for selected employees

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Delay of key project in Germany until winter 2023/2024
• Time-consuming qualification process for O&G market entry in the US
• Scarcity of raw materials for water treatment in Germany

Mitigation Strategies

• Focusing on Municipal Sewage Wastewater in Germany
• Successful completion of long-term tests and qualifications in the US O&G market
• Developing and commercializing NORWAFLOC® as a sustainable alternative to environmentally harmful chemicals in Germany

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 6 (Clean Water and Sanitation)
• SDG 9 (Industry, Innovation, and Infrastructure)
• SDG 13 (Climate Action)

MVW's technologies contribute to cleaner water, sustainable industrial processes, and reduced environmental impact.

Sustainable Products & Innovation

• NORWAFLOC®
• NORWAPOL®

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Microplastic reduction
• CO2 emission reduction
• Water reuse
• Sustainable Development Goals (SDGs)

Environmental Achievements

• Using biodegradable materials instead of synthetic polymer-based coagulants and flocculants helps eliminate microplastic pollution.
• MVW’s products help reduce final discharge levels, contributing to lower CO2 emissions and greater re-use of water and sludge.

Social Achievements

• Launched a complete BAT (Best Available Technology) solution for treatment of water and sludge management for salmon slaughterhouses in partnership with Bioretur and Downstream Marine.
• Signed Alliance Agreement with Bioretur AS.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Severe delays in anticipated new signings of contracts or negative changes in market conditions will increase liquidity risk and the company's growth opportunities.

Mitigation Strategies

• The company is monitoring the development closely and is in discussions with advisors and stakeholders to secure the company's long-term growth opportunities.
• Further investments and scaling up of personnel and cost base have been postponed or reduced, while maintaining strong focus on increasing contract volume and revenues.
• A credit facility (no drawdown as per reporting date) has been secured to finance the working capital of ongoing and new contracts.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• At least 8 of the 17 SDGs

MVW’s products and technologies provide environmental benefits and support at least 8 of the 17 SDGs.

Sustainable Products & Innovation

• NORWAFLOC®, NORWAPOL®

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Microplastic pollution reduction
• Sustainable Development Goals (SDGs)

Environmental Achievements

• Completely replaced synthetic polymers with natural NORWAFLOC® in dredging, municipal wastewater, sand & gravel washing, and mining.
• Reduced final discharge levels, contributing to lower CO2 emissions and greater reuse of water and sludge.
• Waste from production facilities within regulatory limitations.

Social Achievements

• Secured first international contracts in the Oil & Gas sector in the Middle East and with an Icelandic salmon slaughterhouse.
• Increased focus on sales and marketing activities, surpassing last year's total revenue by the end of Q2.
• Successfully completed a private placement, securing capital of 28 MNOK.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• 8 of the 17 Sustainable Development Goals (SDGs)

Using biodegradable materials instead of synthetic polymer-based coagulants and flocculants helps eliminate microplastic pollution. MVW’s products help reduce final discharge levels, contributing to lower CO2 emissions and greater re-use of water and sludge.

Sustainable Products & Innovation

• NORWAFLOC®, NORWAPOL®

Awards & Recognition

• Not disclosed