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.

"WeŽre 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 at Norske Skog Skogn AS.

The company will announce the first half 2023 report 7 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
o	Anders Onarheim, Chairman of the board, Ocean GeoLoop AS, cell: +47 90 70 86
43 

About Ocean GeoLoop | www.oceangeoloop.com

Ocean 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