Ocean GeoLoop: Annual report and 2025 financial results
Verdal, 21 May 2026) Ocean GeoLoop AS (Ocean GeoLoop, OSE: OCEAN) today announces 2025 revenues of NOK 204.9 million, compared to NOK 235,7 million in 2024. In 2025, the company continued its carbon capture business development programme, including work related to energy efficiency, process optimisation and the e-Loop technology. Subsequent to year-end, the Group has taken significant steps to reduce costs, preserve value and refocus resource allocation. COOL AS has been established as a separate business area, focusing on industrial cooling opportunities. CAPTURED AS’ operating activities are being scaled down.
Ocean GeoLoop reported revenues in 2025 of NOK 204.9 million, a decrease from NOK 235.7 million from 2024, with Energi Teknikk AS being the primary revenue contributor. Operating profit (EBIT) was negative NOK 141.6 million, compared to negative NOK 58.0 million in 2024 Cash and cash equivalents amounted to NOK 20.6 million at year-end.
During 2025, Ocean GeoLoop continued to build on the technical achievements reported in 2024, including the development of its water-based carbon capture process and related energy effciency work. The company also worked to establish strategic relationships with stakeholders across the industry, EPC, operations and maintenance, logistics, transport, and CO₂ storage. At the same time, the market environment for carbon capture remained challenging, strongly dependent on industrial project decisions, public funding, regulatory incentives and access to capital.
Throughout the year, the Board and management evaluated the Company’s capital strategy, including strategic partnerships, project financing and access to funding. Given the challenging business environment, in 2026 the Company sharpened its focus on capital discipline. With strengthened financial leadership, the Board and management decided not to take the NorFraKalk carbon capture project forward in its planned form, and to reallocate resources towards energy regeneration and industrial cooling.
In light of the scale-down of the carbon capture business, and a challenging environment for Energi Teknikk which is very much related to the uncertainties around the resource rent taxation, the Board has taken a prudent approach and implemented significant write-downs of the Company’s financial, tangible, and intangible assets.
The annual report 2025 for Ocean GeoLoop is enclosed.
ENDS
For further information, please contact:
Anders Onarheim, Chairman of the Board Ocean GeoLoop AS, phone: +47 97 40 15 11 Viggo Iversen, CEO Ocean GeoLoop AS, phone: +47 474 56 601 Iver Båtvik, CFO Ocean GeoLoop AS, phone +971 585 32 33 17
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 group is organized around COOL, which develops energy-efficient cooling solutions for AI data centers and industrial applications, and Energi Teknikk AS, a full-service provider of equipment and services for small hydropower plants. CAPTURED, which developed the GeoLoop carbon capture technology, is being scaled down. Ocean GeoLoop is listed on Euronext Growth Oslo under the ticker OCEAN.
This information is considered to include inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Viggo Iversen, CEO, at 21 May 2026, 08:20.