Vistin Pharma enters into a long-term renewable energy supply agreement with Statkraft

Oslo, Norway, 9 December 2022

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) announces that it has entered into a long-term industrial energy agreement with Statkraft, the leading Norwegian energy supplier. The agreement will secure a significant part of Vistin’s electricity demand on competitive terms until 2032. The agreement includes Guarantees of Origin as certification of the renewable energy supply, and starts 1.1.2023.

2022 has been very challenging for Vistin and the Norwegian industry, when it comes to electricity costs, with extreme volatility and record high electricity prices in the NO2 area where Vistin’s fully automated production plant is located.

- This agreement will give Vistin Pharma stable electricity supply at predictable and competitive prices. The agreement helps to secure our competitiveness in the global Metformin market. We are happy that Statkraft by this agreement contributes to the future development of Vistin and thereby allows the company to continue focusing on its growth strategy, says Kjell-Erik Nordby, CEO in Vistin Pharma.

- We are very pleased to conclude another renewable energy contract with the Norwegian industry which confirms that Statkraft offers relevant solutions at competitive terms, says Frode Berntsen, Head of Industry Nordics & Baltics at Statkraft.  

About Vistin Pharma | www.vistin.com

Vistin Pharma is a Norwegian pharmaceutical company producing Metformin Hydrochloride (API). The Metformin is also available as Direct Compressible lubricated granules. As a solely dedicated European Metformin producer, Vistin Pharma is a well-positioned supplier to leading pharmaceutical companies. Vistin Pharma is headquartered in Oslo, Norway, and has highly qualified employees and a dedicated manufacturing facility in Kragerø.

About Statkraft | www.statkraft.com

Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations Statkraft has 4,800 employees in 20 countries.

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For further information, please contact:

Alexander Karlsen
CFO
+47 97 05 36 21
[email protected]