Ocean GeoLoop: 200 kWh per tonne carbon capture for the quicklime and cement
industries 

(Verdal, 20 June 2024) Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN) today
announces energy data based on flue gas conditions for the quicklime and cement
industries. The strong results reaffirm Ocean GeoLoopŽs 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). These energy data position Ocean GeoLoop in the front line of technology
providers for carbon capture worldwide. We continue to develop disruptive
solutions for further reduction of the electricity consumption for our next
generation carbon capture " says Odd-Geir Lademo, Chief Executive Officer of
Ocean GeoLoop.

The quicklime and cement industries account for more than 8% of the worldŽs CO2
emissions and CO2 capture is necessary to achieve these industries' climate
goals.

"The results confirm the attractiveness of our carbon capture offering and
provide significant commercial opportunities to the global quicklime and cement
industries," says Anders Onarheim, Chairman of the Board in Ocean GeoLoop.

ENDS

For further information, please contact:
Odd-Geir Lademo, CEO, e-mail: odd.geir.lademo@oceangeoloop.com, cell: +47 92 05
29 01 
Anders Onarheim, Chairman of the board, Ocean GeoLoop AS, cell: +47 97 40 15 11 

About Ocean GeoLoop | www.oceangeoloop.com 

Ocean GeoLoop AS uses nature's own way to solve the challenges of our time in a
circular way. The company has introduced the GeoLoop CC technology that captures
CO2 from point source emissions using natural and harmless processes. Ocean
GeoLoop will help companies and countries achieve their goals of reduced
emissions and access to renewable electricity for the green transition. The
company is listed on the Oslo Stock Exchange Euronext Growth under the ticker
OCEAN.

Visit Ocean GeoLoop on LinkedIn/OceanGeoLoop

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Maria Hosen, CFO, Ocean GeoLoop AS, on 20 June
2024 at 14:25 CEST.