ZEG Power (ZEG) is pleased to announce a letter of intent (LOI) with Questerre Energy Corporation (Questerre), to evaluate our proprietary leading edge blue hydrogen technology for Questerre’s Clean Tech Energy project in Quebec.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We believe hydrogen will become a cornerstone of the emerging circular economy. As we move from near zero emissions responsible production of natural gas to the idea of zero emissions consumption, the technologies to capture the carbon emissions are essential. ZEG Power has designed a one step process that produces hydrogen and captures the carbon dioxide with improved economics. We are studying how to incorporate it into our project in Quebec.”

He added, “Our goal is a material net negative carbon project. Through reducing, recycling and storing of emissions we can create a paradigm shift in what sustainable energy is. The ZEG Power process produces zero emissions hydrogen and a pure stream of carbon dioxide that can be recycled to make other low emissions products including concrete, plastics, fertilizer and other industrial feedstocks. Any excess emissions can be permanently stored.”

Pursuant to the LOI, the companies will explore joint venture opportunities to apply the ZEG Power technology to produce clean hydrogen and/or clean power from Questerre’s Clean Gas project. This will include the engineering and economic due diligence for a demonstration plant concept and subsequent scale up to larger commercial plants. Subject to requisite corporate approvals, Questerre will have an exclusive right to the ZEG Power technology in Canada for a period of one year from the completion of the engineering with a right of first refusal in Canada thereafter.

In a statement on the joint venture, Kathrine K. Ryengen, Chief Commercial Officer of ZEG Power, commented, “We are very pleased to announce the cooperation with Questerre. Their Clean Tech Energy project in Quebec represents a unique opportunity for us to commercialize our technology in Canada. We will build on the learnings from the engineering recently completed for our first plant at the CCB Energy Park in Kollsnes, on the west coast of Norway, where we expect production to commence in 2022.”

About ZEG Power

ZEG Power’s goal is to offer a clean alternative for global energy production. ZEG Power’s value proposition is efficient production of clean hydrogen from hydrocarbon gases with integrated CO2 capture, based on the patented ZEG-technology. ZEG Power was established in 2008 as a spin-off from Institute for Energy Technology (IFE), Norway. The company is currently in the process of upscaling and commercializing its technology, in cooperation with key industrial partners, and supported by strong owners and positive market trends.

About Questerre

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

Questerre’s common shares are traded on the Toronto Stock Exchange in Canada and Oslo Stock Exchange in Norway under the symbol QEC.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com

ZEG Power
Kathrine K Ryengen, Chief Commercial Officer
+47 99418696 | email: kathrine.ryengen@zegpower.com

Fastest way to emission-free hydrogen

Emission-free hydrogen from gas can be delivered as soon as Longship is in place in 2024. Bellona and ZEG Power are now entering into a collaboration on hydrogen and carbon-negative solutions.

– We must think big to solve both the climate problem and energy needs, deliver zero emission solutions and contribute to remove CO2 from the cycle, says Kathrine Ryengen in ZEG Power.

Since the launch of the EU Green Deal in 2019, the outlook for Norwegian energy exports has changed significantly. The EU will phase out Norwegian gas and will need large amounts of emission-free hydrogen. Hydrogen has also received considerable political attention in Norway, including from Prime Minister Erna Solberg and in the government’s climate plan.

– Norway has every opportunity to build industry and new value creation on a global need for emission-free solutions. ZEG Power is just such a company, and a spearhead in the work for industrialization of emission-free hydrogen production, says founder Frederic Hauge in Bellona.

Kickstart on the hydrogen economy

ZEG Power is a spinoff from IFE, a Norwegian research institute, with a new solution for converting gas to hydrogen with integrated CO2 capture. One of the innovations is a concentrated CO2 flow that can go straight to storage.

– Conversion of gas to hydrogen with CO2 storage is the fastest way to emission-free hydrogen on a large scale. This is exciting technology for Bellona to continue working with, says Hauge.

The Longship project will establish a value chain for CO2, including transport and storage of captured CO2 in the North Sea. Thus, gas can be converted to emission-free hydrogen, since CO2 is captured and stored.

– With Longship in place in 2024, we can produce emission-free hydrogen. In this way, we can help kick-start a hydrogen economy both in Norway and internationally. But zero emissions are not enough in a longer perspective, says Kathrine Ryengen, CCO of ZEG Power.

From emission-free to carbon-negative

With the use of biogas, the hydrogen can not only be emission-free, but carbon-negative – that is, take CO2 out of the cycle.

“Opportunities for carbon-negative solutions is something we will investigate together with Bellona,” says Ryengen.

CO2 capture and storage has been a flagship issue for Bellona since 1992. With storage in place within a few years, completely new doors are opened for industrial solutions, Hauge believes.

– Now the industry has every opportunity to think completely new about their emissions and how they can help take CO2 out of the cycle. We will spend a lot of time on such initiatives in the future, and are very pleased to establish a collaboration with ZEG on this, says Hauge.

Hauge warns against the danger of getting lost in the jungle of solutions that recycle CO2.

– It is crucial that CO2 is handled correctly. Priority number 1 is to take CO2 out of the cycle and store it. Very strict criteria must be in place for any use of CO2 that is to be credited as a form of climate benefit. Bellona continues to work with this, both in Oslo and at our Brussels office, says Hauge.

For questions, contact:

Kathrine Ryengen, CCO ZEG Power,
kathrine.ryengen@zegpower.com / +47 99418696

Christian Eriksen, Head of Department Bellona, ​​
chrise@bellona.no / +47 98488398

Bellona

The Bellona Foundation is an international environmental NGO working on the major climate and environmental problems. Founded in 1986 as a direct action protest group, Bellona has become a recognized technology and solution-oriented organization with offices in Oslo, Brussels, UK, St. Petersburg and Murmansk, and representatives in the USA and several EU Member States. Frederic Hauge, founder of Bellona, ​​was named a TIME Magazine Hero of the Environment in the award’s inaugural year 2007. In addition to Hauge, some 60 engineers, ecologists, biologists, economists, lawyers, political scientists and journalists work at Bellona. Our websites are in Norwegian, English and Russian.

ZEG Power

ZEG Power is a Norwegian company that aims to offer the world a cost efficient, clean alternative for energy production. ZEG Power delivers technology and solutions for efficient production of clean hydrogen from hydrocarbon gases, with integrated carbon capture. Examples of hydrocarbon gases are natural gas and biogas. Natural gas is currently the largest source of hydrogen. Hydrogen from biogas combined with carbon capture can achieve a negative carbon footprint. ZEG Power’s technology is based on research and development originated from the Institute for Energy Technology (IFE). More info: www.zegpower.com

ZEG Power is pleased to announce the appointment of Arild Selvig as the new CEO of ZEG Power as the company enters a new growth phase focusing on industrialization of its technology in the clean hydrogen market space.

Arild has more than 30 years leadership experience from the energy industry, where he has been heading up strategy, R&D, M&A, and commercial activities as well as delivering turnkey solutions and services to the global market.

“It is a great pleasure to welcome Arild as a member of the ZEG Power team”, says Chairman of the Board, Carl Lieungh. “We strongly believe that ZEG Power’s technology for clean hydrogen production, combined with the very favourable macro trends towards clean energy, puts the company in a unique position for further growth. Arild is a seasoned industry leader with a proven and impressive track record as well as sharing our vision “Empower the World with Clean Energy”.

Arild Selvig has a MSc degree in Petroleum Engineering from NTNU and Master in Technology Management from NTNU/NHH/Sloan School of Management under MIT in Boston. In addition, he has a Business Administration Candidate degree from Norwegian School of Management.

He started his career on the E&P side working more than 10 years in Norsk Hydro O&G across the entire upstream value chain. He also has 20 years experience with FMC and TechnipFMC in various senior executive roles where his responsibilities recently were expanded to also include TechnipFMC’s growth initiatives within renewables such as offshore wind, hydrogen, and wave energy. Arild starts in his new position in ZEG Power on March 1, 2021.

“ZEG Power is a world leading and innovative company with an impressive portfolio of proprietary technologies. I am really excited to join the very competent ZEG Power team and contribute to the prosperous growth of the company. ZEG Power’s recognition as a solution provider in the hydrogen market is impressive, and with the significant growing interest for hydrogen as a source of energy, I really look forward to start as the new CEO of the company “, says Arild Selvig.

ZEG Power has recently established a solid platform for commercializing its innovative technology for clean hydrogen production, with new owners onboard, and supported by public financing institutions.

The company is currently in the process of strengthening the team in order to ensure successful upscaling and realisation of its first commercial product, a ZEG H30 production unit to be installed and put into operations at CCB Energy Park, Kollsnes, as well as establishing a commercially attractive business.

Based on a wish to focus on the commercial aspects of ZEG Power’s further development and growth, current CEO Kathrine K Ryengen has requested to transition to the role as Chief Commercial Officer (CCO) in ZEG Power.

The company has thus started the search for candidates for the CEO role.

“The fact that the company recently has attracted private capital from international and Norwegian investors as well as public funding from Enova to support the next step in the development, provides a robust foundation from a financial aspect and a great platform for further growth.” he continues.

“I am very happy to have been trusted the important role as CEO in ZEG Power during the last few critical years, and I am both very proud of what we as a team have achieved during that time and strongly motivated to continue to develop the commercial side of the business going forward, in close cooperation with the rest of the ZEG team” says Kathrine K Ryengen. “There is a time for everything, and I believe my efforts should be put where my strengths are, on the commercial side. I am convinced that we are now in an exceptionally good position to attract the best talent with the right experience and motivation to take on the CEO role from here, which makes this important choice easier for me.” she continues.

Kathrine K Ryengen will ensure a smooth transition by continuing in the CEO role until the new CEO is in place.

“On behalf of ZEG Power Board and owners I would like to express our gratitude for Kathrine’s strong contributions to the success of the company so far, and our respect and support in terms of her wish to transit to the CCO role. Until we have in place the new CEO, she continues to have our full trust and mandate as CEO” says Carl Lieungh.

ZEG Power has elected Carl Lieungh as the new Chairman of the Board. This follows additional changes to the board recently made. The new board now comprises the following members:

Carl Lieungh – Chairman
Bertil Gunnar Jörgen Lundberg
Audun Abelsnes
Kevin Eggers
Jean-Baptiste Curien
Phillipus Rudolf Heydenrich

Carl has long experience within the oil, gas and marine industry. He has strong technical and project management background from working for various Aker and Kværner companies for more than 15 years. Further, he has a strong international business acumen developed over the years from senior management positions in companies like Sevan Marine, NCA, Siemens, KPS and Hitec/HitecVision, and extensive experience of various board positions.

“Hydrogen is widely accepted as a particularly efficient energy carrier, and I am convinced that ZEG Power’s cost-efficient technology with integrated carbon capture will be able to play a significant role in the market for environmentally friendly energy production in the future.” Carl Lieungh says.

ZEG Power owners, board members and team hereby extend a warm welcome to Carl! And at the same time express a strong gratitude to Fredrik Mowill for his important contributions in the role as Chairman of the Board in ZEG Power during the past 2 years.