Bifogade filer
OceanGeoLoop_AnnualReport_2024_250317
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Energi & Miljö |
| Industri | Miljö & Återvinning |
2025-03-18 08:15:00
Ocean GeoLoop: Annual report and 2024 financial results
(Verdal, 18 March 2025) Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN) today
announces 2024 revenues of NOK 235.7 million, up from NOK 172.9 million in 2023.
The company showcased record low carbon capture electricity consumption data for
the lime and cement industries during the year and has a strong position for
rapid commercial scaling.
"Ocean GeoLoop made industry headlines in 2024 by reporting results from our
study with
quicklime producer NorFraKalk. The results are game-changing and reinforce our
carbon
capture technology as the preferred choice for the lime and cement industries
with carbon capture
rates exceeding 90%, a product gas purity of 95% and record-low energy
consumption in the range of
200 kWh/tonne. The advancements made by our team have provided a giant leap
forward in allowing industries to decarbonize their operations," says Odd-Geir
Lademo, Chief Executive Officer of Ocean GeoLoop.
Ocean GeoLoop reported revenues in 2024 of NOK 235.7 million, which marked an
increase from NOK 172.9 million from 2023, with Energi Teknikk AS being the
primary contributor. The company continued the planned investments in technology
development and reports a negative operating profit (EBIT) of NOK 58.0 million,
compared to a negative EBIT of NOK 47.4 million in 2023. The company had cash
and cash equivalents of NOK 65.3 million at the end of the period.
"Turning cutting-edge science into commercial success is our priority as we
navigate multiple go-to-
market opportunities. We stand on solid ground for our market expansion. We have
shaped and
matured strategic partnerships that, in record time, have transformed our
business from concepts,
through industrial pilots, to commercial products. Our top modern,
customer-oriented R&D center in
Trondheim allows us to offer efficient customer introduction and testing of the
technology, while the
industrial pilot plant at Skogn continues to attract recognition for its
professional industrial design," Lademo adds.
The company continues its focused market entrance in two key domestic regions in
partnership with lead customers