Ocean-geoloop As · OSL:OCEAN
Ocean-geoloop As — Investor Presentation (March 2022)
42 slides from Ocean-geoloop As's investor presentation, March 2022
Slide 1: Ocean GeoLoop AS Company Presentation
Ocean GeoLoop AS Company Presentation March 2022
Slide 2: Important information and Disclaimer
Important information and Disclaimer This document and any information provided in this Presentation (the "Presentation") is being made available on a strictly confidential basis, and all material contained herein and information presented, including any proposed terms and conditions, are for discus
Slide 3: Summary Risk Factors (1/2)
Summary Risk Factors (1/2) Risks related to the business of the Company and the industry in which it operates • The Company is subject to various market specific risks related to the carbon capture, utilization and storage market • The Company may not be able to implement its business strategy succe
Slide 4: Summary Risk Factors (2/2)
Summary Risk Factors (2/2) Financial risks • The Company may require additional capital in the future • EU Taxonomy Risks related to the Shares and the Admission • Major shareholder risk • There is no existing market for the Shares, and an active trading market for the Company's Shares may not devel
Slide 5: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 5
Slide 6: The combined climate, environment and resource crisis is a major challenge
The combined climate, environment and resource crisis is a major challenge and needs a holistic solution Escalating emissions increase the Man-made emissions causing A growing world population requires an global temperature, resulting in a ecosystem collapse and loss of increasing amount of sustaina
Slide 7: Copying nature to bypass costly and polluting processes
Copying nature to bypass costly and polluting processes 1 Point source carbon capture unit 2 GeoLoop Column unit • Captures CO2 from a point source emitter and turns it into a pure, liquid • A multi-functional, ocean-based state. dome-system enabling biomass • Can be delivered as a service, producti
Slide 8: Carbon capture by nature
The proprietary point-source carbon capture technology can capture close to 100% CO 2 1 from flue gas, is 100% free from toxins and harmful chemicals and the company has an ambition to make it 100% self-financed by 2024 via the e-Loop The patented GeoLoop Column is a proprietary multi-functional oce
Slide 9: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 9
Slide 10: Ocean GeoLoop is established to commercialize green, disruptive technologies
Ocean GeoLoop is established to commercialize green, disruptive technologies with a global reach Our solutions are aimed at solving the greatest challenge of our time; a combined climate, environment and resource crisis Based on more than 15 years of research & development together with internationa
Slide 11: Actively maturing the product portfolio
Actively maturing the product portfolio Main services delivered Technology Current Envisioned status Tool to clients maturity status end-22 Planned pilot installed at Verification procedures Point-source carbon Process tested and Norske Skog Skogn Q2 accomplished. Ready for capture verified by SINTE
Slide 12: Selected partners
Selected partners Established a strong industrial partnership LOI signed and considering potential and OGL´s main piloting partner applications for CCS LOI LOI Reputed research partner with a wide range Has an ambition to be the world´s first of specialists within OGL´s core areas carbon neutral alu
Slide 13: Securing commercial rollout of technology through acquisition
Securing commercial rollout of technology through acquisition …accelerated by investment in …providing multiple benefits for Maturing of game-changing e-Loop… Energi Teknikk AS… Ocean GeoLoop • e-Loop is a novel technology enabling clean electricity production by using low The acquisition ensures ac
Slide 14: Management with diverse and complementary industry backgrounds
Management with diverse and complementary industry backgrounds to take the company through to full commercialization Chief Executive Officer – Odd Geir Lademo Chief • Financial Officer – Maria Terese Hosen • More than 25 years of experience in SINTEF and NTNU. Research Manager in • 18 years of exper
Slide 15: Active and experienced Board of Directors
Active and experienced Board of Directors Chairman – Anders Onarheim Board Member – Hans Kristian Hustad • CEO BW LPG Ltd • 45 years of experience in running operations & board director/chairman positions in • Chairman North Energy ASA the Nordics, CEE, and UK • Vice chairman Reach Subsea ASA • Prev
Slide 16: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 16
Slide 17: Point source carbon capture
1 Point source carbon capture Point source carbon capture 100% capture 100% clean 100% self-financed Can capture close to 100% of CO 2 The capture and separation of CO 2 Our ambition is to make this from the flue-gas from flue-gas uses no harmful possible via the embedded chemicals, no toxic materia
Slide 18: Steps towards self-financed carbon capture
1 Point source carbon capture Steps towards self-financed carbon capture Illustrative marginal cost of carbon capture (per ton) Comments Conventional processes Ocean GeoLoop The first pilot to be installed at Norske Skog Skogn, end Q2 2022 No interaction with emitter from our end-of-pipe solution Pi
Slide 19: The technology has been de-risked and industrial pilot will be commissioned Q2 2022
1 Point source carbon capture The technology has been de-risked and industrial pilot will be commissioned ultimo Q2 2022 at Norske Skog Skogn De-risked through several measures Industrial pilot at Norske Skog Skogn, start-up Q2 2022 • Theoretical studies, numerical simulations and experimental testi
Slide 20: Selected storage and utilization options
1 Point source carbon capture Selected storage and utilization options Captured CO2 Storage alternatives (CCS) Planned usage (CCU) • Separation of CO2 from flue gas and compression of CO2 into • Green Ethanol: Produced with GeoLoop CO2, water and e- liquid state for storage in sub sea-floor/aquifers
Slide 21: Introducing the GeoLoop Column
2 GeoLoop Column Introducing the GeoLoop Column A multi-functional ocean- Current status based system • Biomass generation via filtering process, • Pilots in the mid-Norway completed in farming and harvesting 2021 to identify optimal locations for • Ocean filtration biomass production • Oxygenation
Slide 22: The GeoLoop Column provides two potential revenue streams
2 GeoLoop Column The GeoLoop Column provides two potential revenue streams GeoLoop Column Biomass Cleaning the ocean • The GeoLoop Column is designed to capture and harvest • GeoLoop Column can provide services such as ocean marine biomass purification and oxygenation, and is expected to have • Ocea
Slide 23: The enabler, a new marine biomass resource: Tunicates
The enabler, a new marine biomass resource: Tunicates powering the carbon capture and e-Loop Tunicates • Unique, nanofibrillated cellulose from the only cellulose-producing animal in the ocean, the tunicate • Developed by Ocean Tunicell in Bergen, and exclusively licensed to Ocean GeoLoop, for GeoLo
Slide 24: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 24
Slide 25: Ocean GeoLoop presents a clear 2025 vision
Ocean GeoLoop presents a clear 2025 vision… > 25 million tons of annualized by 2025 CO2 capture contracted Source: The Company 25
Slide 26: Enabled by a large and developing commercial base
…enabled by a large and developing commercial base 0.6 million 1.5 million 11.3 million >13 million 25 million tons as of additional tons since additional tons of total tons of LOIs and tons of contracts by June 2021 June 2021 discussions discussions 2025 200,000 500,000 500,000 200,000 t tons tons
Slide 27: Attractive and scalable business model with multiple revenue streams
Attractive and scalable business model with multiple revenue streams Business model Product Revenue stream Build-Own-Operate to capture • Revenue per ton CO2 BOO upside and recurring revenues Point captured Enabled by low CapEx and OpEx Source • Generation 3: self- Capture financed through locally p
Slide 28: High level timeline for the entire business rollout
High level timeline for the entire business rollout → 2022 2023 → Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Pilot at Norske Skog Skogn Construction & Commissioning Installation Carbon Capture Process start-up and optimization Subject to firm contract, construction of first commercial unit Large scale e-Loop pilot e-L
Slide 29: Expected cost development for a 400,000 tons/year facility
Expected cost development for a 400,000 tons/year facility Description CapEx1 OpEx2 Capture cost per ton Q2 2022 Firm Expectation • Upscaling of non-optimized industrial pilot at Norske Skog • Total CapEx: $156m • Electricity: 500 kWh/ton Gen I Skogn • Uses conventional pumps and • CapEx per year: $
Slide 30: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 30
Slide 31: Significant scale-up of carbon capture capacity required to reach Paris Agreement
Significant scale-up of carbon capture capacity required to reach target reduction from Paris Agreement Carbon Capture requirements to fulfill Paris Agreement Potential multi-billion euro market p.a. for CCUS Mtpa 6,000 141x 840 Mtpa CO2 5,635 Mtpa CO2 5 635 5,000 x x The IEA estimates that 4,000 ca
Slide 32: CCUS capacity is expected to grow by 16% p.a. from 2020-2030
CCUS capacity is expected to grow by 16% p.a. from 2020- 2030, but is not enough to achieve net-zero emissions by 2050 Announced global capacity by 2030 is 194 Mtpa… …but this is not enough to reach net-zero by 2050 >4x Mtpa 250 840 200 194 16% CAGR 150 194 100 Announced 2030 capacity Required 2030
Slide 33: Significant tailwind in the carbon capture market
Significant tailwind in the carbon capture market Carbon price has increased significantly since 2017… …and is expected to further increase due to three initiatives EU ETS EUA price European carbon cost have risen significantly the last few 1 100 years, but the price is still substantially lower tha
Slide 34: Selected addressable markets for Ocean GeoLoop
Selected addressable markets for Ocean GeoLoop Oil refineries Revenue streams from both carbon capture and utilization Plastics Waste-to- energy plants Chemicals Building materials Pulp and paper mills Offshore Oil and gas installations power plants Fertilizer (urea) Greenhouse Biomass, used in fish
Slide 35: Several organizations stimulate energy transition to reach net-zero in 2050
Several organizations, including European Union, stimulate for energy transition to reach net-zero emissions in 2050 Energy transition towards net-zero emissions by 2050 Over 200 large corporations are pledging net-zero within 2040 • Climate change has become one of the biggest environmental “Climat
Slide 36: Agenda
Agenda I Executive Summary II Introduction to Ocean GeoLoop III Industrialising disruptive technologies IV Roll out strategy and key financials V Market overview VI Appendix and risk factors 36
Slide 37: Rapid growth and multiple milestones reached since inception
Rapid growth and multiple milestones reached since inception 1998 2010 2016 2020 H2 2020 H2 2021 Tunicate R&D Tunichor AS OceanBergen AS Ocean-GeoLoop AS: Established LoI with Norske Skog Skogn, EPC of mobile CC pilot facility for initiated and funded established by the established: 49/51 by Hans Gu
Slide 38: Risk Factors (1/4)
Risk Factors (1/4) Risks related to the business of the Company and the industry in w hich it operates • The Company is subject to various market specific risks related to the carbon capture, utilization and storage market The Company competes in markets that are new, largely unexplored and rapidly
Slide 39: Risk Factors (2/4)
Risk Factors (2/4) • Construction of CCUS installations and equipment There are numerous risks associated with the Company ’s f uture construction of CCUS installations and equipment. The construct ion period may last f or a longer time period than anticipated by the Company , and be af f ected by f
Slide 40: Risk Factors (3/4)
Risk Factors (3/4) • The Company may fail to effectively protect information about customers and employees The Company may store inf ormation about customers and employ ees. Although the Company has implemented routines and has made inv estments to the ef f ect that priv acy and security of personal
Slide 41: Risk Factors (4/4)
Risk Factors (4/4) • The price of the Shares may fluctuate significantly The trading v olume and price of the Shares could f luctuate signif icantly. Some of the f actors that could negativ ely affect the Share price or result in f luctuations in the price or trading v olume of the Shares include, f
Slide 42: Ocean GeoLoop
Ocean GeoLoop MARCH 2022
Ocean GeoLoop AS — Investor Presentation (March 2022) on 6ix