Ocean GeoLoop is now finalizing a private placement to realize and mature three industrial scale prototypes for CO2 capture.
– The capital raise process of MNOK 100 has received strong interest in the market. With the new capital in place Ocean GeoLoop is prepared to ramp up the company ́s development through the realization of a set of industrial prototypes and commercial pilots. We are also very pleased that Norske Skog enters as industrial partner and investor in Ocean GeoLoop, says Anders Onarheim, Chairman of the board in Ocean GeoLoop AS.
Ocean GeoLoop has now several disruptive technologies in the pipeline, ready for commercial sized pilots. Early June a full scale prototype of one of these technologies was installed in sea close to Norske Skog Skogn. In parallel the company has developed a novel Carbon Capture technology. Experimental work has shown promising results and is verified by a recognized third party. The process is capable of capturing up to 100% of the CO2 in flue gas in a very simple and natural manner. After initial pre-treatment, no harmful chemicals are used. The process is energy efficient, clean and represents no harm to the environment. The capture technologies can be supported by a third technology element, the e-Loop, enabling low cost energy supply from flue-gas.
– We consider our CO2-capture technology an important contribution to fight the climate crisis in a cost effective way, says Odd-Geir Lademo, CEO at Ocean GeoLoop AS.
Facts about Ocean GeoLoop
- Ocean GeoLoop has been established as a spin-off of the research project Ocean, initiated by Hans Gude Gudesen in 2006.
- Ocean GeoLoop works «with nature» and uses nature’s own cycles. Ocean GeoLoop is established to industrialize innovative environmental technology with global scaling potential. The company is based on long-term systematic research and method development, connected in a holistic concept with the aim of solving the greatest challenges of our time; a combined climate, environment and resource crisis.
- The company is led by Odd-Geir Lademo, while the board consists of Anders Onarheim, Ole Jørstad, Hans Kristian Hustad, Ebbe Deraas and Morten Platou.
- Among the owners are First Funds, GLS Real Estate, DNB Asset Management, Gluteus Medius, MP Pension and Bergen municipal pension fund.
For more information: www.oceangeoloop.com