Megadeals Advisory has recently released the “Sustainability Gamechangers – Nordic top 50” report that highlights efforts made by different Nordic companies to innovate within the field of sustainability. ZEG Power is identified as one of the gamechangers.
Megadeals Advisory recognizes 50 Nordic companies that are commercially scaled and ready to scale innovations, and that in their opinion are capable of significantly lowering CO2 emissions. Among them are heavyweights such as Polestar, Volvo’s new electric car line. ZEG and our patented ICC™ technology, which enables clean hydrogen from gas with integrated CO2 capture, is also being recognized.
Our innovations are unique according to Megadeals Advisory due to ZEGs module based and flexible systems enabling large and small scale plants. Our Climate+ Solution (BioZEG concept) is also highlighted , which is energy production based on gasified biomass enabling negative CO2 emissions.
ZEG’s CEO Arild Selvig sees great opportunity for ZEG´s ICC™ Technology and solutions and is very positive to receiving the news that Megadeals Advisory recognizes the company´s clean hydrogen technology.
“Hydrogen from natural gas with CO2 capture and storage is a solution the world needs now. If we want to solve the global climate crisis we need to innovate and invest in green technology that can push us into the future. Being recognized for our work, is inspiring”, says Selvig.
“There is a need for a greener and more sustainable future, and that is the future ZEG is planning on being a part of. Being mentioned as a leading Nordic company when it comes to readiness for fast commercial scaling and high sustainability impact, motivates us to continue on our journey to empower the world with clean energy”, Selvig concludes.
Megadeals Advisory has used Project Drawdown’s criteria when selecting the companies for their report. While the UN’s Sustainable Development Goals (SDGs) are a helpful guide for goal setting, Project Drawdown’s rigorous review of sustainable technologies is according to Megadeals Advisory an excellent resource for anyone looking for a solution to the SDGs.
A study conducted by Sintef on behalf of the EU highlights that all types of hydrogen technology will be crucial in the future. The demand for hydrogen will increase tenfold by 2050. In order to meet this demand and for the world to achieve the climate goals, both green and blue hydrogen are needed, the report states.
In addition to all types of hydrogen technology, the study points to the importance of carbon capture and storage, if Europe is to achieve its defined climate goals. The EU has a goal of net zero emissions by 2050.
Researcher at Sintef Energi and co-author of the study, Gunhild Reigstad, believes that Norway is in a good position to create a hydrogen export industry.
“The results of the study show that in this green transition, hydrogen from natural gas with CO2 capture, and large-scale storage of Europe's CO2 emissions, will be economical and sustainable. Norway is in a good position to create a new hydrogen export industry, with its natural gas resources and its investment in CO2 storage”, Reigstad tells Sintef.no.
The study estimates that the demand for hydrogen can grow to over 100 million tons in 2050. This corresponds to 3,300 terawatt hours - over 21 times as much as Norway's total production of electric power today. The report estimates that the demand for hydrogen will increase tenfold over the next 30 years.
The study also states that hydrogen will be crucial in bringing the EU into a zero-emission economy, and especially in sectors where electrification and efficiency are challenging. It also points out that renewable hydrogen and low-carbon hydrogen are both equally necessary to achieve net zero emissions, where natural gas and CCS (CO2 capture and storage) will continue to be crucial, even with a focus on renewable energy.
The beginning of a new Norwegian export adventure ZEG's CEO Arild Selvig believes that the study shows how why the demand for ZEG's ICCTM technology and solutions can be significant in the years to come, from both Europe and the rest of the world. Not only can ZEG be a new, Norwegian export adventure, but it can also play a role in Norway’s economical and climate friendly transition.
“We believe that the production of hydrogen from natural gas with CO2 capture can quickly and most efficiently increase the hydrogen production volumes needed. Hydrogen and carbon capture and storage are solutions the world needs now, and that can help Norway both achieve its climate goals and further develop the Norwegian industrial adventure”, says Selvig.
Norway's first industrial hydrogen plant with integrated carbon capture In April, ZEG entered into a purchase agreement with H2 Production, a company wholly owned by CCB Energy Holding, for Norway's first industrial hydrogen plant with integrated CO2 capture. The plant will be installed in CCB Energy Park, Kollsnes, outside Bergen, and make ZEG’s customer H2 Production the first player to offer climate-friendly gas-based hydrogen to the market.
“Cost competitive climate-friendly hydrogen production from natural gas will be required to replace use of fossil fuels and we have the ambition to be a key player within this segment, Selvig concludes.
The study was conducted by partners SINTEF and IFP Énergies Nouvelles (research) and Deloitte (project management) on behalf of Hydrogen4EU's funding partners. The entire study can be read at www.hydrogen4eu.com
ZEG Power AS has entered into an agreement with H2 Production AS (CCB Energy Holding AS) for the purchase of Norway's first industrial hydrogen plant with integrated CO2 capture.
Today, H2 Production has entered into an agreement with ZEG for the purchase of the first industrial plant for the production of hydrogen from natural gas with integrated CO2 capture. The plant will use the Norwegian technology of ZEG, which enables emission-free production of hydrogen from natural gas.
–We are pleased to enter into this strategically important agreement with ZEG. Climate-neutral hydrogen production from natural gas will be an important contribution in replacing fossil fuels, and our ambition is to become a key player within this segment. With this plant from ZEG, we will be the first to offer climate-friendly hydrogen from gas to the market. The plan is then to further scale up the technology. By enabling use of natural gas in a sustainable manner, the ZEG technology has the potential to be an important contributor to achieve Norway´s climate goals, says CEO of H2 Production, Ronny Haufe.
–This is a big day for us. We are very pleased to have signed a contract for the sale of the first industrial ZEG plant to H2 Production. ZEG is primarily a technology and equipment provider, so entering into the first commercial contract for plant delivery is an important milestone for the company. We are also very pleased to be able to collaborate with CCB Energy Holding and H2 Production in the realization of the plant, as part of our joint project supported by Enova, says CEO of ZEG, Arild Selvig.
–H2 Production is buying the hydrogen plant from ZEG and will be the owner and operator of the plant when it is completed at the CCB Energy Park in 2022. Kollsnes in Øygarden has a significant history of gas industry. With the establishment of the joint venture company Northern Lights and the government´s Longship project, the site will become Norway's center for hydrogen production and other climate-friendly establishments, says Haufe.
–ZEG offers climate friendly solutions utilizing Norway's already existing natural advantages and resources. ZEG's unique and patented Norwegian technology has been developed over 20 years. IFE at Kjeller is the technological hub that initiated the technology development. This is the same hub that built and operated one of the world's first nuclear reactors, revolutionized the offshore industry, and made it possible to trade electricity on the stock exchange. The ZEG technology enables the use of natural gas as climate-friendly hydrogen. Hydrogen and carbon capture and storage are solutions the world needs now. The technology can help Norway to achieve its climate goals and further develop the Norwegian industrial adventure. This may contribute to the Norwegian economical and climate friendly transition. The Norwegian endeavor to develop world leading carbon capture technology is now actually taking place at the Energy Park in Øygarden. The Norwegian petroleum adventure is more than 50 years old, and we believe that the Norwegian hydrogen adventure might last just as long, Selvig concludes.
For more information, please contact: Ronny Haufe, CEO, H2 Production, +47 913 50 660 Arild Selvig, CEO, ZEG Power +47 915 61 935
About H2 production H2 Production AS is part of the group, CCB Energy Holding AS (CCBEH). CCBEH was established by Bernh Larsen Holding and Norsea Group for the purpose of climate-friendly industrial development. H2 Production aims to develop large scale production of hydrogen with integrated CO2 capture. The facility will be established at the Energy Park in Øygarden, with estimated start-up for producing compressed H2 in 2023. Furthermore, the company plans to produce liquified H2 as well as ammonia.
About ZEG Power ZEG Power is a Norwegian company that aims to offer the world a green alternative of energy production. ZEG Power supplies technology and equipment for emission-free production of hydrogen and electricity from hydrocarbon gases.
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.
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: email@example.com
ZEG Power Kathrine K Ryengen, Chief Commercial Officer +47 99418696 | email: firstname.lastname@example.org
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.
Christian Eriksen, Head of Department Bellona, email@example.com / +47 98488398
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 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.