ABT enters into partnership with Norwegian cosmetic product developer

Following Aqua Bio Technology ASA's ("ABT") acquisition of Cosmed Beauty and Ultrabody AB ("Cosmed") and Skinteam Norge AS ("Skinteam"), ABT's production and sale of its various products will increase significantly. To ensure stable supply going forward ABT has entered into a partnership with Stavanger based Kosmetikk Laboratoriet who offers filling services, white label products and custom-made products to the cosmetic sector. The co-operation will provide ABT with exclusive rights for distribution of certain white label and custom-made products, and will enable ABT to give Skinteam's membership club, skincare salons and hairdressing salons, access to locally formulated, developed and produced cosmetic products of high quality, in addition to ABT's existing product range.

Read more about the acquisition of Skinteam in ABT's stock exchange notice of 23 July: https://newsweb.oslobors.no/message/595681

Read more about the acquisition of Cosmed in ABT's stock exchange notice of 28 July: https://newsweb.oslobors.no/message/567588

Kosmetikk Laboratoriet was founded in 2021 with a strong belief in the green shift, and local and sustainable beauty production in the cosmetics sector. To ensure the high quality they follow the ISO 22716 standard for Cosmetic Good Manufacturing Practices and the International Fragrance Association Library of Standards in their development and production of cosmetic products.

“We are excited to enter into long term partnership with ABT and their aim to establish a strong presence in beauty market. We aim to partner with like-minded businesses that share our visions. Based on our joint focus on natural and sustainable skincare, we believe that we can obtain significant synergies through shared knowledge, technological advancements and the offering of sustainable products and solutions through ABT and Skinteams' distribution networks. We believe the green shift offers a unique opportunity for all stakeholders in the value chain, including production, distribution, sales and consumers”, said Kosmetikk Laboratoriets Stephan Ulvund Øien.

Read about Kosmetikk Laboratoriet; https://www.kosmetikklaboratoriet.no/

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For further information, please contact CEO Håvard Lindstrøm mobile phone +47 941 32 288.

Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skincare products. ABT's cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skincare products developed by partners towards consumers and professional users. ABT's focus on commercialization and development of natural ingredients and natural skincare products has been, and will continue to be, an important part of the Company's strategy going forward. Aqua Bio Technology is listed on the Euronext Expand market of the Oslo Stock Exchange.