Ocean GeoLoop: Annual report and 2024 financial results

Ocean GeoLoop AS reported revenues of NOK 235.7 million in 2024, up from NOK 172.9 million in 2023. The company achieved record low carbon capture electricity consumption data for the lime and cement industries, with carbon capture rates exceeding 90% and product gas purity of 95%. CEO Odd-Geir Lademo emphasized the significance of the technology, stating its efficiency and attractiveness for decarbonization efforts across industries. Ocean GeoLoop is expanding its market presence, focusing on commercial carbon capture projects with NorFraKalk and Yara, aiming for international scaling by enhancing its commercial capabilities.