OCEAN GEOLOOP Ocean GeoLoop: Announces successful 3000-hour carbon capture milestone (Verdal,23 August 2023 )Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN) today announces the successful 3000-hours milestone for the point-source carbon capture pilot at Norske Skog Skogn,Norway , and is now ready to pursue commercial agreements. "We´re proud to announce that our development program has reached the 3000-hour milestone of safe operations of our point-source carbon capture pilot at Norske Skog Skogn. Having an autonomous carbon capture plant with no harmful chemicals or need for residual heat are features that are highly appreciated by our industrial partners. Following this successful milestone, we look forward to using these results in a commercial setting, " says Odd-Geir Lademo, Chief Executive Officer of Ocean GeoLoop. The long-term testing has provided further proof that the carbon capture technology is highly robust at industrial scale and conditions. The pilot has shown solid performance related to industrial robustness, including when run autonomously over longer periods. "We congratulate Ocean GeoLoop on the milestone of 3,000 hours of operation at their pilot plant at Skogn. Our operations have not been affected during the test period.Norske Skog is ready to reduce our biogenic CO2, and look forward to the further results of the Ocean GeoLoop's carbon capture operations," says Håvard Busklein, Managing Director atNorske Skog Skogn AS . The company will announce the first half 2023 report7 September 2023 . ENDS For further information, please contact: o Odd-Geir Lademo, CEO, e-mail: odd.geir.lademo@oceangeoloop.com, cell: +47 92 05 29 01 oAnders Onarheim , Chairman of the board,Ocean GeoLoop AS , cell: +47 90 70 86 43 About Ocean GeoLoop | www.oceangeoloop.comOcean GeoLoop AS is a green-tech company using nature's own way of solving the challenges of our time in a circular way. The company has introduced the GeoLoop CC technology that captures point source CO2 emissions, using natural and harmless processes. In 2023 the company will build a pilot to further develop the e-Loop, a novel technology for electricity production. The GeoLoop CC and the e-Loop will help companies and countries to reach their goals of reduced emissions and to get access to renewable electricity for the green transition. The company is listed on Oslo Børs Euronext Growth under the ticker OCEAN. Visit Ocean GeoLoop on LinkedIn/OceanGeoLoop
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