Bergen Carbon Solutions
Bergen Carbon Solutions AS is a Norwegian carbon capture and utilization company that converts CO2 into multi-walled carbon nanotubes, synthetic graphite, and hard carbon via molten salt electrolysis, serving battery manufacturers and adjacent carbon-intensive industries.
- Company typePublic
- Founded2016
- HeadquartersBergen, Norway
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Bergen Carbon Solutions does
Bergen Carbon Solutions AS (BCS) is a Norwegian carbon capture and utilization (CCU) company founded in 2016 that converts CO2 into solid carbon products via molten salt electrolysis powered by Norwegian green energy. The proprietary process — consuming roughly 10% of the energy required by conventional fossil-based carbon production — yields multi-walled carbon nanotubes (MWCNT), synthetic graphite, and hard carbon. A novel electrolyte filtration and recycling process recovers approximately 99% of the electrolyte (TÜV-approved pilot prototype), materially impacting unit economics. The company has built an in-house battery lab with coin cell testing capability across LFP, NMC, and Li-S chemistries, and has filed patents on its electrolyte separation process and received a Norwegian intention-to-grant on a second patent application.
BCS operates a sales-led, B2B enterprise go-to-market targeting electric vehicle battery manufacturers and adjacent carbon-intensive industries. Revenue is generated through three streams: (1) direct sales of carbon raw materials (MWCNT, synthetic graphite, hard carbon, "BCS Powders"); (2) CCU technology licensing and integration services enabling manufacturers to deploy onsite carbon capture; and (3) R&D services and development agreements for custom carbon formulations. The company's primary customer segment is EV battery manufacturers, with identified secondary applications in aerospace, electronics, automotive, construction, energy, and sports. Current commercial relationships are exclusively LOIs, MOUs, and R&D agreements with TKG Huchems (Korea, exploring a 10,000-tonne CNT factory), Morrow Batteries, Beyonder, BroadBit Batteries, and Horizontal Na Energy Technology — none have converted to disclosed off-take contracts.
The company is publicly listed on OSE Euronext Growth (ticker: BCS) since 2021, has 21 employees as of 2025, and is headquartered in Blomsterdalen, Bergen, Norway. Largest shareholder is Awilco AS (11.32%), a wholly-owned subsidiary of Awilhelmsen. Operating losses averaged NOK 15-18M per quarter through 2023; a 35% headcount reduction in 2024 and ongoing cost discipline cut burn rate 23% in 2024 and 53% in Q1 2025. Cash declined from NOK 280M (Q1 2023) to NOK 213M (Q1 2024). The company is pre-revenue, funded primarily through grants (NOK 50.3M+ from Innovation Norway and Skattefunn 2023-2026) and residual IPO proceeds.
Bergen Carbon Solutions firmographics
Firmographics- Name
- Bergen Carbon Solutions
- Legal name
- Bergen Carbon Solutions AS
- Website
- https://bergencarbonsolutions.com
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bergen Carbon Solutions AS is a Norwegian carbon capture and utilization company that converts CO2 into multi-walled carbon nanotubes, synthetic graphite, and hard carbon via molten salt electrolysis, serving battery manufacturers and adjacent carbon-intensive industries.
- Ownership category
- akta.pro rank
Bergen Carbon Solutions industry classification
Industry- Product category
- Battery Materials / Carbon Materials
- NAICS
- Carbon and Graphite Product Manufacturing (335991), Chemical Manufacturing (325)
- SIC
- Industrial Organic Chemicals (2860)
- akta.pro primary industry
- Carbon‑Based Carbon Materials (graphite, carbon black, CNTs, graphene from CO₂/CO) (EUABAIAG)
- akta.pro secondary industries
- Functional Carbon Fillers (Carbon Black, Graphite) (IMAEAFAO), CO₂‑to‑Chemicals (C1/C2+ chemicals: formic acid, CO, syngas, ethylene/propylene pathways) (EUABAIAC)
Keywords
Where Bergen Carbon Solutions is headquartered
LocationHeadquarters
- HQ city
- Bergen
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Bergen Carbon Solutions business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain
Revenue model
- Clean Carbon Raw Materials Sales: Sale of carbon products including Multi-Walled Carbon Nanotubes (MWCNT), synthetic graphite, and hard carbon to battery manufacturers and other carbon-intensive industries. Revenue from direct product sales to EV battery producers and industrial customers.
- CCU Technology Licensing and Integration: Offering CCU manufacturing technology, integration design, and operational support to enable manufacturers to incorporate carbon capture and utilization into their own production lines. May include technology licensing and joint venture arrangements.
- R&D Services and Development Agreements: Technology development agreements with battery companies for custom carbon material specifications. Includes collaboration on next-generation battery chemistries such as LFP and Li-S.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Bergen Carbon Solutions product offering
Product offeringCore offering
Bergen Carbon Solutions transforms CO2 emissions into high-value carbon products using proprietary molten salt electrolysis powered by Norwegian green energy. The company manufactures and sells Multi-Walled Carbon Nanotubes (MWCNT), synthetic graphite, hard carbon, and green conductive carbon powders primarily for the battery industry, while also offering CCU manufacturing equipment, integration design, and operational support to enable onsite carbon capture and utilization at industrial sites.
Product overview
Bergen Carbon Solutions offers a portfolio of clean carbon products and CCU technology. The core offerings include: (1) Multi-Walled Carbon Nanotubes (MWCNT) - nanostructured carbon materials for battery conductive additives; (2) Graphite and Hard Carbon - synthetic carbon materials for battery anodes; (3) CCU Manufacturing Technology - equipment and integration services for onsite carbon capture and utilization; and (4) BCS Powders - green carbon nanotube composites tested for LFP and Li-S batteries. All products are produced through an innovative electrochemical process that converts CO2 into solid carbon using Norwegian green energy, consuming approximately 10% of the energy required by conventional fossil-based production methods.
Differentiator
Problem solved
Functional benefit
Products and services
- Multi-Walled Carbon Nanotubes (MWCNT)
Quantifiable outcome
- ~10% energy consumption compared to conventional fossil carbon production
- +8 more outcomes
Companies that use Bergen Carbon Solutions
Customer profileNamed customers6 records
Segments7 records
Ideal customer profiles2 records
Bergen Carbon Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Bergen Carbon Solutions partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered supporting and core.
- International Advisory Board (Tom Van Bellinghen and Pierre Joris)supportingInternational Advisory Board formed in 2025 with Tom Van Bellinghen (battery technologies and EV battery value chain expertise from Umicore) and Pierre Joris (30+ years materials industry, former Nanocyl SA board member acquired by Birla Carbon). Provides strategic guidance on product development, market entry strategies, and stakeholder engagement.
- BeyondercoreLetter of Intent signed September 2024 to enhance technical capabilities of Beyonder batteries and secure local supply of critical carbons. Establishing local value chain of green carbon for Beyonders BePower product and next generation battery chemistries. Beyonder is a Norwegian battery technology company developing sustainable battery solutions with proprietary BePowered battery cell.
- Morrow BatteriescoreLetter of Intent signed August 2024 to build a local sustainable value chain for select battery materials in Norway. Goal to establish strong European value chain of critical carbon materials to support Morrow's sustainable battery cell production. Exploring use of BCS material to enhance overall technical capabilities of Morrow's batteries.
- BroadBit Batteries OycoreTechnology development agreement for advancing next-generation nano-carbon additive for LFP battery chemistries. Following promising initial results with BCS material in BroadBit LFP-batteries. Conducting battery coin cell testing at BroadBit Batteries lab in Finland. Will refine and optimize CNT formulations tailored for LFP batteries.
- University of Bergen (UiB)supportingCollaboration strengthening capacity for technical analysis and characterization of nanocarbon materials. BCS gains access to state-of-the-art characterization equipment including Transmission Electron Microscope (TEM) and other cutting-edge facilities within Electron Microscopy Laboratory (ELMILAB) at UiB. Increases characterization capacity while strengthening relationship with university.
- FME BatterysupportingParticipation in FME Battery research centre targeting next generation and improved circular sustainable battery technology value chain. Supports national strategies including Energi21, green industrial initiative, and Norway's battery strategy. Holistic focus on materials, processes and systems integration with strong effort on sustainability, digitalisation, innovation, education and exploitation.
- TKG HuchemscoreMOU extended in September 2023 (valid until September 2024) for producing Carbon Nanotubes (CNT) targeting battery cell manufacturers in the Asian region. Both parties exploring establishment of CNT factory in Korea with annual capacity of 10,000 tonnes. Huchems is a leading Korean fine chemical producer operating 14 plants across Korea, producing nitric acid, ammonium nitrate, DNT, and MNB.
- Horizontal Na Energy Technology Co LtdsupportingJoint research project on Sodium Ion Batteries (SIBs) funded by Innovation Norway (~NOK 6 million over three years). BCS green carbon nanofibers/nanotubes used as conductive additive to improve SIB electrode material performance, reducing need for scarce lithium resources in lithium-ion battery production.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
Bergen Carbon Solutions competitors and assessment
Company assessmentDirect peers
- OCSiAl: World's largest producer of single-walled and multi-walled carbon nanotubes serving battery, elastomer, and composite applications. Directly comparable to BCS as an MWCNT supplier targeting battery conductive additive use cases.
- Resonac (formerly Showa Denko): Major Japanese producer of synthetic graphite and carbon materials for lithium-ion battery anodes, with significant CNT and conductive additive capacity. Closely comparable on synthetic graphite and battery carbon additive offerings.
- CarbonOrO: US-based startup using molten salt electrolysis to convert CO₂ into carbon nanotubes and carbon black — virtually identical core technology to BCS. The closest direct technology competitor and a relevant benchmark for BCS's CCU approach.
- Novonix: Battery materials company developing synthetic graphite for lithium-ion anodes with North American production. Directly comparable as a synthetic graphite anode material developer serving EV battery customers.
- Talga Resources: Australian-listed graphite anode material developer focused on EV battery applications with European operations. Directly comparable as a graphite anode material supplier targeting European EV cell manufacturers.
- POSCO Future M: Korean producer of synthetic graphite anode materials and battery components, serving major Asian cell OEMs. Directly comparable as a synthetic graphite anode material supplier targeting the same Korean/Asian cell-maker customers as BCS.
- Birla Carbon: Largest global carbon black producer, which acquired Nanocyl (MWCNT) and is expanding into battery-grade conductive carbons. Directly comparable as an incumbent scaling CNT and battery carbon additive capacity.
- Imerys: Leading specialty minerals producer with a dedicated battery solutions business supplying synthetic graphite anode materials to EV cell makers. Directly comparable as a synthetic graphite anode supplier.
Broad incumbents
- Cabot Corporation: Global specialty chemicals and performance materials company with carbon black, CNT, and battery materials offerings. Comparable as a broad incumbent in carbon materials with overlapping battery applications.
Others
- LanzaTech: Carbon capture and utilization company using gas fermentation to convert CO₂ and industrial gases into fuels and chemicals. Comparable as a CO₂-to-value CCU company with a different but adjacent conversion mechanism and shared customer base in sustainable carbon products.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Bergen Carbon Solutions social profiles
Digital presenceBergen Carbon Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bergen Carbon Solutions leadership team
Management profileNumber of profiles
Profiles10 records
Bergen Carbon Solutions funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bergen Carbon Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bergen Carbon Solutions
What does Bergen Carbon Solutions do?
Bergen Carbon Solutions transforms CO2 emissions into high-value carbon products using proprietary molten salt electrolysis powered by Norwegian green energy. The company manufactures and sells Multi-Walled Carbon Nanotubes (MWCNT), synthetic graphite, hard carbon, and green conductive carbon powders primarily for the battery industry, while also offering CCU manufacturing equipment, integration design, and operational support to enable onsite carbon capture and utilization at industrial sites.
Is Bergen Carbon Solutions a public or private company?
Bergen Carbon Solutions is a public company. It is classified as public and is currently operating.
When was Bergen Carbon Solutions founded?
Bergen Carbon Solutions was founded in 2016. It employs 11 to 50 people.
Where is Bergen Carbon Solutions based?
Bergen Carbon Solutions is headquartered in Bergen, Norway, in the Europe region.
How does Bergen Carbon Solutions make money?
Three revenue lines are on record. Clean Carbon Raw Materials Sales are the primary driver. The others are CCU Technology Licensing and Integration and R&D Services and Development Agreements.
Who are Bergen Carbon Solutions's main competitors?
Direct peers on record are OCSiAl, Resonac (formerly Showa Denko), CarbonOrO, Novonix, Talga Resources, POSCO Future M, Birla Carbon and Imerys. Cabot Corporation is listed as a broad incumbent. LanzaTech is listed as an others.
Does Bergen Carbon Solutions have an API?
No public API is recorded for Bergen Carbon Solutions.
What industry is Bergen Carbon Solutions in?
Bergen Carbon Solutions's product category is Battery Materials / Carbon Materials. Its primary akta.pro industry code is EUABAIAG, Carbon‑Based Carbon Materials (graphite, carbon black, CNTs, graphene from CO₂/CO), with a secondary code of IMAEAFAO, Functional Carbon Fillers (Carbon Black, Graphite). Its NAICS code is 335991 and its SIC code is 2860.