Ocean GeoLoop Point Source Carbon Capture, Storage and Utilization

Statement

The OCEAN Geoloop (“the Company”) technology for point-source CO2 capture, storage and utilization (“CCS/CCU”) has been invented and developed since 2006 by Hans Gude Gudesen (“HGG”), supported by his international network of collaborating scientists and R&D institutions.

HGG has decided that this technology, including future developments thereof, shall be made available to the Company, free of charge. HGG will also, at his own account, to the extent possible, cover all costs related to its further development.

This implies that the existing licencing Agreement between HGG and the Company shall be cancelled with respect to royalty as described in the Agreement, while the Agreement otherwise shall remain in full force. Further to be included shall be the new CO2 capture capacity, enabling the Company to separate CO2 from flue-gases in a 100% clean manner, using no harmful chemicals, no toxic materials, producing no pollutants.

Also to be included in the point-source solution shall be the new, clean and renewable, hydropowered electricity generation technology called the e-Loop, developed by HGG and his network. The e-Loop is estimated to allow coverage of all capex/opex costs related to point-source CCS/CCU. 

HGG in return claims a commitment from the Company regarding the following:

- All shareholders shall be treated with respect and fairness under all circumstances. The Company shall work on behalf of the interests of all, not just a selected few.

- Above all the company shall be operated in support of nature, its cyclicity and its ecosystems, and actively withstand from any actions to the opposite. 

- The company shall furthermore work to apply the technology for the good of all humans, in particular for those many all around the globe which do not have as good a life as they deserve as human beings. 

Hans Gude Gudesen, 21.10.21.