deepC Store Limited (“dCS”), Mitsui O.S.K. Lines, Ltd (“MOL”) and Technip Energies (“T.EN”) have entered into a Letter of Intent (“LOI”) in relation to the Pre-FEED, FEED, EPCI and O&M services for the Floating Storage & Injection (“FSI”) Hub facility for dCS’s CStore1 Project.

Under this LOI,

• dCS will manage the overall development of CStore1, including the FSI Hub facility;

• T.EN will provide Pre-FEED, FEED, and engineering, procurement, construction and installation (“EPCI”) services for the FSI Hub facility using its C-Hub(TM) technology; and

• MOL will provide the Pre-FEED service for CO2 shipping scope and closely work with dCS and T.EN in relation to the FSI Hub facility scope.

“The FSI Hub is a key facility within the overall CStore1 project for unlocking a range of remote offshore CO2 injection sites. The LOI with MOL and T.EN ensures technical confidence to develop CStore1 as the first offshore floating CCS hub project in Asia Pacific region” says Jack Sato, Chairman of dCS.

"As a provider of social infrastructure service in addition to traditional shipping, MOL is honored to have an opportunity to expand our involvement in CStore1 project. We are also delighted about another collaboration with dCS and T.EN in this project for further development.” says Yasuchika Noma, Executive Officer of MOL.

"T.EN as a world leader in carbon capture solutions together with our expertise in Australian offshore project delivery, is proud to be involved in this leading endeavour. Working with our development partners dCS and MOL we look forward to creating a cost effective option for the receiving and handling of carbon in the region.” says Paul Browne, Country Manager for T.EN Australia & New Zealand Pty Ltd.

FOR DETAILS CONTACT:

Daein Cha, Managing Director and CEO

getintouch@deepcstore.com

dCS is a commercial scale CCS project developer and operator. For more information about dCS visit www.deepcstore.com

MOL is the global leader in the shipping industry, operating about 800 vessels all over the world, including its LNG fleet (including Floating Storage and Regasification Units) totaling approximately 100 carriers and one of the world's largest dry bulk carrier fleets. For more information about MOL visit https://www.mol.co.jp/index.html

T.EN is a global leader for EPC of major industrial capital projects, especially for the EPCI provision of energy solutions including subsea, onshore/offshore, and surface projects. For more information about T.EN visit https://www.technipenergies.com/

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