Ocean GeoLoop: Ocean GeoLoop becomes majority shareholder in Ocean Tunicell

15 Nov 2022 08:20 CET

Ocean GeoLoop: Ocean GeoLoop becomes majority shareholder in Ocean Tunicell


(Verdal, 15 November 2022) Ocean GeoLoop AS (OGL, OSE: OCEAN) today announces an
agreement with OGL´s founder and largest shareholder, Hans Gude Gudesen, to
transfer his majority position in Ocean Tunicell to Ocean GeoLoop.

“I am excited to see Ocean GeoLoop and Ocean Tunicell closer together, as there
are vast synergies between the companies. The competent and dedicated people
gathered in Ocean GeoLoop and Ocean Tunicell, and the broad cooperation that has
been developed between the companies over the last two years, I believe will
flourish even better under the same umbrella. This is an important step in
realizing Ocean GeoLoop´s visions,“ says Hans Gude Gudesen, inventor and founder
of Ocean GeoLoop.

Ocean GeoLoop has entered into an agreement with Hans Gude Gudesen to transfer
his holding of approximately 55% of Ocean Tunicell, including his shares in
Ocean M AB. The shares in Ocean Tunicell and Ocean M AB will be transferred and
assigned to Ocean GeoLoop against no consideration.

Ocean Tunicell possesses highly skilled personnel within marine biology and
low-trophic ecosystems, and relevant experience within production and processing
of the sea animal tunicates. Of particular importance for Ocean Geoloop is the
nanofibrillated cellulose that OTC extracts from the tunic of this animal.

“By executing this agreement, we are now pooling technology and expertise while
at the same time it affirms Gudesen´s commitment to enable Ocean GeoLoop
reaching its ambitions. The board of Ocean GeoLoop is pleased to see that this
strengthens both companies' technological development and commercial
opportunities. Ocean Tunicell also represents an exciting commercial pillar
within the regenerative medicine markets," says Anders Onarheim, the chairman of
the board of directors of Ocean GeoLoop.


ENDS


For further information, please contact:

Odd-Geir Lademo, CEO, e-mail: odd.geir.lademo@oceangeoloop.com, cell: +47 92 05
29 01

Anders Onarheim, Chairman of the Board of Directors, cell: +47 90 70 86 43


About Ocean GeoLoop | www.oceangeoloop.com

Ocean GeoLoop is a green tech company aiming at using nature’s own way of
solving the challenges of our time in a circular way. In 2022, the company
introduces the GeoLoop CC technology that captures point source CO2 emissions,
using natural and harmless processes, transforming the CO2 to a stable, liquid
state. Ocean GeoLoop call this process “Carbon capture by nature.” The GeoLoop
CC technology will help companies and countries around the globe to reach their
goals of reduced emissions before 2030 and net zero by 2050. The company is
listed on Euronext Growth Oslo under the ticker OCEAN.

This announcement was published by Maria Hosen at the date and time set out
above.

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