Investor news
Ocean GeoLoop: SINTEF verifies data of industry leading energy consumption for the lime and cement industries
Ocean GeoLoop AS today announces third party verification by SINTEF of the record low carbon capture electricity consumption data for the lime and cement industries.
The results from this third-party report and predictive capability are efficient means to provide customer confidence and insight into the Ocean GeoLoop solution, enabling informed and stepwise engineering and financial derisking. The process is a fully electric, closed-loop liquid absorption method that does not rely on the use of harmful chemicals, nor waste heat from industrial emitters.
Read MoreOcean GeoLoop: Business update Q3 2024
Ocean GeoLoop AS today announces revenues per the third quarter of 2024 of NOK 151.3 million, up from NOK 118.3 million in the corresponding period last year. The international market scaling strategy towards the European lime industry, an addressable 25 million tonnes CO2 market, continues to attract significant commercial interest.
“The communicated results from the recently conducted feasibility study with lime producer NorFraKalk continue to generate high interest from the lime and cement industries. This verifies that our first-generation technology has strong competitive advantages in these markets. The partnership is currently planning the next stage in the collaboration”, says Odd-Geir Lademo, Chief Executive Officer of Ocean GeoLoop.
Read MoreOcean GeoLoop: Results for the first half of 2024
Ocean GeoLoop AS today announces imminent international market scaling towards the European lime industry, an addressable 25 million tonnes CO2 market. Ocean GeoLoop reported revenues in the first half of 2024 of NOK 105.0 million, up from NOK 83.2 million in the same period last year, with Energi Teknikk AS as the main revenue contributor.
Read MoreOcean GeoLoop: 200 kWh per tonne carbon capture for the quicklime and cement industries
Ocean GeoLoop AS today announces energy data based on flue gas conditions for the quicklime and cement industries. The strong results reaffirm Ocean GeoLoop´s target to provide world class carbon capture solutions. Based on a thorough test program including flue gases with 25% CO2 concentration, recent calculations conclude an electricity consumption for carbon capture in the size order of 200 kWh per tonne (approx. 0,7 GJ per tonne).
Read MoreOcean GeoLoop: Ocean GeoLoop and Yara Norge accelerate the work towards a feasibility study for carbon capture at Herøya
Ocean GeoLoop AS today announces plans for a feasibility study with the intention to support a pilot on carbon capture. First in line is a feasibility study of carbon capture from the planned expansion project at the Calcium Nitrate (CN) plant at Yara Porsgrunn (Herøya, Norway).
Read MoreOcean GeoLoop: Quarterly business update 30 May 2024
Ocean GeoLoop AS today announces revenues in the first quarter of 2024 of NOK 38.3 million (Q1 2023:46.0) and positive carbon capture technology developments. After the closing of the quarter, the company announced strong preliminary results from the ongoing NorFraKalk feasibility study. The results confirm the attractiveness of the company’s carbon capture offering to the quicklime and cement industry and provide significant commercial opportunities.
Read MoreOcean GeoLoop: Strong preliminary results from the NorFraKalk study
Ocean GeoLoop AS today announces strong preliminary results from the ongoing NorFraKalk feasibility study. The results confirm the attractiveness of the company’s carbon capture offering to the quicklime and cement industry and provide significant commercial opportunities.
The test program at 25% flue gas CO2 concentration confirmed carbon capture rates exceeding 90% and product gas purity of 95%, enabling delivery of liquified CO2 above 99% purity. Ocean GeoLoop targets to provide corresponding data for energy consumption before summer.
Read MoreOcean GeoLoop: Annual report and 2023 financial results
Ocean GeoLoop AS today announces 2023 revenues of NOK 172.9 million, up from NOK 128.1 in 2022. The company entered the commercial stage during the year, and has in 2024 announced an Enova funded carbon capture project with NorFraKalk to make the company climate neutral.
Read MoreOcean 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 Enova supported carbon capture project aims to showcase the solution.
Read MoreOcean 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 carbon capture solution.
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