Ocean GeoLoop wins SIVA’s X-factor prize

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.

Viggo Iversen from Ocean GeoLoop with the Siva Award

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

Ocean GeoLoop with the award
Ocean GeoLoop´'s CCO, Viggo Iversen received the award on behalf of the company at the SIVA conference in Trondheim. Photo: Åge Hojem, Siva

Related news

Ocean Gaoloop in meeing
Investor news, News

Ocean GeoLoop announces Enova funded carbon capture project with NorFraKalk

NorFraKalk and Ocean GeoLoop today announces the initiation of a potential large-scale CO2 capture project with the ambition to make NorFraKalk climate neutral. The lime and cement industry accounts for approximately a tenth of the world's CO2 emissions and is one of the industries where CO2 capture is necessary to achieve the climate goals. The...

Read more
Investor news, News

Ocean GeoLoop: Quarterly business update 26 October 2023

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...

Read more
Happy and energic cohort of student Joining the Loop!

This year’s summer students Joined the Loop!

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.

Read more