Ocean GeoLoop: Enters into cooperation agreement with Carbon Circle

(Verdal, 11 February 2025) Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN) today
announces a collaboration agreement with Carbon Circle AS (Carbon Circle) for
joint commercial development of global carbon capture projects. 

"Ocean GeoLoop is proud to extend our partnership with Carbon Circle for the
commercial roll-out of our leading carbon capture technology. By joining forces
with the highly competent and complementary Carbon Circle team, we strengthen
our commercial and execution capacity to deliver our solutions in the
fast-growing global carbon capture markets," says Lars Strøm, Chief Project
Officer in Ocean GeoLoop.

Carbon Circle is an Engineering, Procurement & Construction (EPC) contractor
dedicated to addressing the global demand for carbon emission reduction, while
Ocean GeoLoop has developed a 100% clean, autonomous and energy efficient CO2
capture technology. Under the agreement, the companies will address joint
commercial opportunities, enabling customers to realize energy efficient carbon
capture solutions tailored to their needs.

"Carbon CircleŽs strong track record in developing modular process solutions,
our access to yard capacity, combined with OGLŽs innovative clean and energy
efficient carbon-capture technology, provides efficient means to support our
global customers with state-of-the-art solutions. We look forward to working
together to deliver products and projects that make carbon capture an attractive
investment," Carbon Circle CEO Aslak Hjelde concludes.

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