VERDAL, Norway
,
September 6, 2022
(press release)
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Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN), the green tech company developing multifunctional environmental technologies based on nature’s own processes, today announces the official subcontractor handover of the carbon capture pilot plant at Norske Skog Skogn, Norway, and has entered into the stabilization and optimization phase. “The pilot has so far in the stabilization phase been operated for several consecutive hours and has captured CO2 continuously during these periods. The first indications are positive, and we look forward to further verifications. Planned adjustments of the pilot plant are in progress, and these are expected to be finalized by the end of September. Then we expect to spend approximately two weeks to further stabilize the process, and about six weeks for initial process optimization,” says Odd-Geir Lademo, Chief Executive Officer of Ocean GeoLoop. Ocean GeoLoop has entered the stabilization and optimization phase for the point-source industrial carbon capture pilot plant at Norske Skog, Skogn, and the formal handover from the subcontractor has been finalized. The company´s proprietary and versatile control system has been verified. A comprehensive test program will be carried out in cooperation with SINTEF Industry. The main objectives of the pilot plant installation and test phases are to document that the technology is industrially scalable and in line with process calculations, to document that the process handles a range of operational conditions and performs in a robust and predictable manner, and to optimize the process. ENDS For further information, please contact: Odd-Geir Lademo, CEO, e-mail: odd.geir.lademo@oceangeoloop.com, cell: +47 92 05 29 01 Anders Onarheim, Chairman of the board, Ocean GeoLoop AS, cell: +47 90 70 86 43 About Ocean GeoLoop | www.oceangeoloop.com Ocean GeoLoop is a green tech company aiming at using nature’s own way of solving the challenges of our time in a circular way. In 2022, the company introduces the GeoLoop CC technology that captures point source CO2 emissions, using natural and harmless processes, transforming the CO2 to a stable, liquid state. Ocean GeoLoop call this process “Carbon capture by nature.” The GeoLoop CC technology will help companies and countries around the globe to reach their goals of reduced emissions before 2030 and net zero by 2050. The company is listed on Oslo Børs Euronext Growth under the ticker OCEAN.
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