The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

13 November 2023

Cellular Goods PLC

("Cellular Goods" or "the Company")

King Tide Carbon achieves major milestone with successful creation of kelp-derived biochar

Cellular Goods (LSE: CBX), is pleased to announce that its wholly owned subsidiary King Tide Carbon Canada Ltd. ("King Tide"), has achieved a significant milestone with the production of kelp-derived biochar that paves the way for carbon dioxide removal (CDR) credit production and a range of applications in agriculture, environmental restoration and industry.

King Tide's successful development of kelp-derived biochar with 28% carbon content marks a significant leap forward for the company by harnessing the carbon-rich properties of kelp, a rapidly renewable marine resource, for biochar production. Biochar, a stable form of carbon derived from organic matter, has long been recognised for its potential to improve soil quality, sequester carbon, and enhance agricultural productivity.

This development follows increasing global scientific consensus that biochar is a viable, and permanent form of carbon sequestration, paving the way for King Tide to scale up its carbon removal efforts and generate high quality CDR credits.

King Tide will continue to refine and scale its innovative process with the goal of making kelp-derived biochar accessible on a larger scale, maintaining its commitment to a sustainable future and innovative solutions for climate change.

Key highlights of this achievement include:

1. Sustainable Carbon Sequestration: King Tide's kelp-derived biochar offers a potent and sustainable solution for carbon sequestration. Kelp's rapid growth, carbon-capturing capabilities, and the conversion into biochar contribute to long-term carbon storage, helping combat climate change.

2. Effective Carbon Content: The 28% carbon content of King Tide's kelp-derived biochar demonstrates good carbon-rich properties, making it an effective tool for carbon sequestration, enhancing soil fertility and potentially other industrial applications.

3. Environmental Stewardship: By repurposing kelp into biochar, King Tide is promoting the principles of the circular economy and responsible resource management. This innovative approach reduces waste, maximizes resource utilization, and aligns with sustainable environmental practices.

4. Agricultural Advancements: Kelp-derived biochar has potential for agricultural applications. It can enhance soil structure, improve water retention, increase nutrient availability, and reduce the need for synthetic fertilizers, ultimately leading to more sustainable and productive farming practices.

5. Scientific Collaboration: King Tide's achievement is the result of dedicated research and collaboration with experts in marine biology, environmental science, and agriculture led by Dr. Hector Siegler and Mohammad Alikarami at the University of Calgary and including Dr. Satyanarayan Panigrahi from Saskatchewan Polytechnic. This interdisciplinary approach highlights the importance of cross-sector collaboration in addressing pressing global challenges.

Darcy Taylor, Interim CEO at Cellular Goods, commented: "King Tide's mission is to harness the power of the oceans to remove carbon dioxide from the atmosphere sustainably and at scale. The company remains dedicated to pioneering sustainable solutions that benefit both the environment and society. This development of our first kelp-derived biochar production for delivery of carbon sequestration credits (CDRs) and a range of applications in agriculture and environmental restoration, marks a significant milestone in our strategy to provide carbon sequestration-as-a-service. This builds on our partnership with Springtide Seaweed, setting the stage for a new era of oceanic carbon sequestration innovation."

For further information please contact:

About Cellular Goods PLC:

Cellular Goods is pioneering the use of lab-based and biosynthetic production methods for wellness and sustainability solutions. The Company launched with a focus on efficacy led and science-backed products utilising biosynthetics, and now employs its expertise across two verticals: premium next-generation cannabinoid skincare products, and carbon sequestration-as-a-service through its wholly owned business division, King Tide Carbon, which utilises biosynthetic algae and seaweed to provide scalable carbon removal. The Company is incorporated in the UK and listed on the Main Market of the London Stock Exchange. For more information, visit www.cellular-goods.com.

About King Tide:

King Tide is a British Colombia incorporated biosynthetic algae and seaweed carbon sequestration-as-a-service company with a clear mission to deliver sustainable, scalable, and high-quality carbon removal credits that ensure a reliable supply to support global and national commitments to achieving net-zero carbon emissions by 2050. Through innovative technologies and strategic partnerships, King Tide is committed to reversing climate change by reducing carbon dioxide levels in the atmosphere, and providing customers with permanent, verified carbon removal as a service. https://www.kingtidecarbon.com