Successful first commissioning phase and system test of carbon capture pilot

(Verdal, 4 July 2022) Ocean GeoLoop AS (Ocean GeoLoop, OSE:OCEAN), the green
tech company developing multifunctional environmental technologies based on
nature's own processes, today announces the successful first commissioning phase
and system test of the carbon capture pilot installation at Norske Skog Skogn in
Norway.

"Ocean GeoLoop is proud to announce the on-time, and successful initial
commissioning and system test in line with project requirements. The results are
very encouraging, and we look forward to enter into the optimization phase",
says Odd-Geir Lademo, Chief Executive Officer of Ocean GeoLoop.

Ocean GeoLoop has in collaboration with sub-contractors and partners completed
the construction, installation, mechanical completion and first commissioning
phase of the carbon capture pilot plant at the Norske Skog Skogn facility in
Norway. The results show that the pilot plant and the process function as
planned.

"The board is most pleased about the news of a successful system test. This
again demonstrates both the groundbreaking work done by our inventor and
founder, Hans Gude Gudesen, as well as the ability of the OGL team and our
partners to deliver quality work under challenging circumstances. We reiterate
the potential for our technology and expect a successful operational pilot plant
to accelerate our commercial activity even further. We expect carbon capture to
play an even more important role in solving the current energy crisis", says
Anders Onarheim, Chairman of the Board of Directors.

                                           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 90 70 86 43 

About Ocean GeoLoop | www.oceangeoloop.com 

Ocean GeoLoop is a green tech company aiming at using nature's own way of
solving the challenges of our time in a circular way. In 2022, the company
introduces the GeoLoop CC technology that captures point source CO2 emissions,
using natural and harmless processes, transforming the CO2 to a stable, liquid
state. Ocean GeoLoop call this process "Carbon capture by nature." The GeoLoop
CC technology will help companies and countries around the globe to reach their
goals of reduced emissions before 2030 and net zero by 2050. The company is
listed on Oslo Børs Euronext Growth under the ticker OCEAN. 

This stock exchange announcement was published by Maria Hosen, CFO, on 4 July
2022.