Ocean GeoLoop wins SIVA’s X-factor prize
Ocean GeoLoop is the first company to be awarded SIVA’s X-factor prize. The jury recognizes the company’s effort to develop technology for a holistic and efficient solution to the CO2-challenge.
From the Left: Acting CEO Andreas Krüger Enge in Siva, Chief Operating Officer Viggo Iversen in Ocean GeoLoop, General Manager Glenn Alexander Jakobsen in Foamrox and Minister of Research and Higher Education Ola Borten Moe.
Photo: Åge Hojem, SIVA.
Published: 05. May 2022 - Last updated: 25. October 2022
SIVA is a governmental enterprise facilitating a national infrastructure for innovation consisting of incubators, business gardens, catapult centres, innovation enterprises, innovation centres and industrial real estate. The SIVA prize was established in 2016, while the X-factor prize was awarded for the first time in 2022.
– We are truly happy to be awarded the X-factor prize. Ocean GeoLoop’s green technologies have been developed by Hans Gude Gudesen for two decades. The last two years we have built the company with a strong team and with a set of partners, which are involved in our technology development and industrialization. The SIVA-network is important for us, and we look forward to investigate the possibilities in this network also in the future. The recognition from SIVA inspires the whole Ocean GeoLoop-team, says Odd-Geir Lademo, CEO of Ocean GeoLoop.
The jury motivates the award with the way Ocean GeoLoop aims to solve the climate challenge in an innovative matter with technology developed by the company, and the aim to make the carbon capture process self-energized using electricity produced from low energy heat sources. They also emphasize the fact that the technology is Norwegian and will create jobs and export opportunities.
– We are building this company step by step and are on track to have the first pilot for CO2-capture in operation at Norske Skog’s factory at Skogn during the summer of 2022. The GeoLoop CC technology 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,” says CEO of Ocean GeoLoop Odd-Geir Lademo.
Read more in the Press Release from SIVA by clicking this link
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Ocean GeoLoop AS today announces revenues in the third quarter of 2023 of NOK 118.4 million (Q3 2022:79.2). The company announced the successful 3,000-hours milestone for the point-source carbon capture pilot at Norske Skog Skogn, Norway, during the quarter. The company has thus entered the commercial stage, while in parallel initiating the company’s next generation...
At OGL, we are genuinely interested in getting young people's perspectives and input on what OGL is working on. Therefore, from the first year of operation, we have engaged students to “Join the Loop” and contribute to various activities and tasks.