The strategic agreement will open access to global market opportunities for ZEG’s differentiated technology for clean hydrogen production.

Oslo, August 29th, 2023 - ZEG Power (ZEG) has signed a strategic deployment agreement (SDA) with its lead investor SLB to scale up and market its ground-breaking ZEG ICC^TM technology for clean hydrogen production from hydrocarbon gas.

ZEG develops clean hydrogen production technology with integrated carbon capture (ZEG ICC^TM technology) for various end-user applications, including industry and mobility sectors. The technology is based on sorbent enhanced reforming and was originally developed at the Institute for Energy Technology (IFE), a highly recognized research institute in Norway. The first commercial ZEG plant is currently being installed and put into operation at CCB Energy Park at Kollsnes, adjacent to the planned Northern Lights CO₂ storage infrastructure. ZEG’s owners include SLB, IFE Invest, Stratel, AP Ventures, Nysnø Klimainvesteringer, SPARX Mirai, StartupLab Founders Fund, Nordea Asset Management and Danske Invest.

“To have a technology leader of such caliber as SLB, with its worldwide footprint and innovation expertise that will help scale clean energy solutions, brings vast opportunities for ZEG”, says Arild Selvig, CEO of ZEG. “We expect this agreement to provide a significant catalyst for ZEG’s expansion into global markets. We look forward to continuing to develop business opportunities with SLB as a strategic partner.”

For more information, please contact:

Arild Selvig, CEO, arild.selvig@zegpower.com, +47 91561935

Kathrine K Ryengen, CCO, kathrine.ryengen@zegpower.com, +47 99418696

www.zegpower.com