SaraRasa signs a pellet off-take agreement until December 2024

Dovre Group Plc                Press release                October 14, 2022, at 1 pm

SaraRasa signs a pellet off-take agreement until December 2024

SaraRasa Bioindo Pte. Ltd. has agreed with Cellmark Ab to supply the majority of its production of pellets for a two-year period starting from December 2022 and ending in December 2024 for the Korean market using Cellmark's services. The agreement is fixed price and the contract is valued at about 14 million euros. This new off-take agreement replaces the previous agreement announced on July 25, 2019, between the same parties.

"This long-term contract gives SaraRasa financial security to develop its capacity. Cellmark has been our business partner already for six years and we are confident that they are a good match for us in the biomass industry also going forward," says SaraRasa’s Director Mr. Ilari Koskelo.

Dovre Group Plc holds 19.9% of SaraRasa’s shares and presents the ownership as a financial asset at fair value through profit and loss.

For further information, please contact:

SaraRasa Bioindo Pte. Ltd.
Ilari Koskelo, Director
ilari.koskelo@navdata.fi

Dovre Group is a global provider of project management services. Dovre Group has three business areas: Project Personnel, Consulting and Renewable energy. Dovre Group has offices in Canada, Finland, Norway, Singapore, and the US, and employs nearly 800 people worldwide. Dovre Group is listed on Nasdaq Helsinki (symbol: DOV1V). Website: www.dovregroup.com

SaraRasa Bioindo Pte. Ltd., a pellet producer using residual materials from wood working industries, owns and operates a wood pellet production factory in Surabaya, Indonesia. SaraRasa’s major shareholders are Navdata Oy, Dovre Group Plc and Finnfund.

CellMark AB is a global supply chain service company. Founded in 1984 in Gothenburg, Sweden, CellMark has its roots in the international trade and distribution of raw materials related to the global Pulp and Paper Industry. Today, CellMark has seven divisions. Its Energy division promotes the production, trade and proliferation of biomass-based alternative energy fuels and other waste-to-energy commodities for more environmentally conscious materials for heat and power. CellMark’s annual sales are USD 3.7 billion. www.cellmark.com

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