Ocean GeoLoop acquires 67 % of Energi Teknikk

We are enthusiastic about having Ocean GeoLoop on the team in the further development of Energi Teknikk. Not only will we maintain the strong position as a supplier of goods and services within electromechanical equipment, but Ocean GeoLoop also offers us very exciting opportunities within its investment in carbon capture, says Arild Klette Steinsvik, general manager of Energi Teknikk.

Energi Teknikk has had strong growth in the last 3 years. The company is at the end of the Tokagjelet project, which has been the company’s largest project to date. The company has also gained a good position in the upgrading and service segment. With Ocean GeoLoop as a major share holder, the company is well equipped for further growth. Ocean GeoLoop contributes important industrial expertise and strengthens Energi Teknikk`s financially position by providing financing to ensure continued solid deliveries to its customers.

The parties have for some time been looking at common opportunities and the collaboration offers further technological opportunities for Energi Teknikk. There are synergies with current technology that can be further developed and together it will open up new market opportunities with significant potential.

Ocean GeoLoop has a very exciting pilot under construction. Energi Teknikk has turbine technology that is intended to be used in Ocean GeoLoop’s investment in carbon capture, this provides opportunities for both companies.

The management of Energi Teknikk, consisting of Eivind Tvedt, Carine Klemmetsen and Arild Klette Steinsvik, will, through their holding company, hold the remaining shareholding in Energi Teknikk.

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 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 in a process of being listed on Euronext Growth Oslo.