Ocean GeoLoop: Technology update 

(Verdal, 10 July 2025) Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN) today
publishes a technology update including results from a recently concluded study
on the c-Pump and associated calculations of levelized cost of electricity
(LCOE).

Ocean GeoLoop continues to leverage the carbon capture electricity consumption
data with carbon capture rates exceeding 90%, a product gas purity of 95% and
record-low energy consumption in the range of 200 kWh/tonne. A case study has
been performed showing that the c-Pump has potential to reduce net electricity
demand by >80% in plants with available waste heat and cooling. The recovered
energy could result in carbon capture at a net electricity demand of
approximately 25 kWh/tonne.

"A cost-efficient valorization of low-grade waste heat is essential to lower
barriers to carbon capture implementation. We're highly encouraged by associated
LCOE numbers from the SINTEF study on the c-Pump system based on 80 degrees
Celsius waste heat source and we look forward to the next phase of piloting and
commercialization to even further strengthen our carbon capture offering," says
Odd-Geir Lademo, Chief Executive Officer of Ocean GeoLoop.

The c-Pump relies on available thermal contrasts to produce mechanical or
electrical energy. SINTEF has completed a study in close cooperation with the
Ocean GeoLoop and its subsidiary Energi Teknikk to estimate the initial
performance of the c-Pump module. The current LCOE estimate is 0.53 NOK/kWh (+/-
30%) based on a 20-year operating period at 8% interest rate. 

"Ocean GeoLoop will explore piloting and commercial applications of the c-Pump
at different industrial sites in Norway, where Herøya Industrial Park is a
promising site that provides access to thermal energy sources and areas suitable
for the exploitation of thermal contrasts." Lademo concludes. 

A technology update for Ocean GeoLoop is enclosed.


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