Oslo ,17 January 2022 Carbon Transition (through its fully owned subsidiary Axxis Multi Client AS) today announces aUSD 0.5 million (net toCarbon Transition ) multi-client seismic data licensing contract with a new customer. Under the contract, the customer will licenseCarbon Transition's Utsira multi-client survey inNorway . The revenue will be recognized in the first quarter of 2023. We are encouraged by the positive momentum in the multi-client market. A steady growth in the number of clients licensing the Utsira data increases the market for the reprocessed upgrade-product we announced13 December 2022 . The reprocessed data will be an additional product only available to customers who have already acquired the underlying data. We believe the quality of the reprocessed product will improve late sales from the original data set and will result in significant additional late sales from the reprocessed data. For further information, please contact:Nils Haugestad , interim CEO and CFO email: nils.haugestad@carbn.no tel: +47 977 04 439 AboutCarbon Transition | www.carbn.noCarbon 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 other industries in listed companies as well as companies expected to be listed in the near term. CARBN has a legacy seismic business operating under the nameAxxis Geo Solutions , with a multi-client data library. This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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