Ocean-GeoLoop (OCEAN) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenues reached NOK 55.3 million, up from NOK 38.3 million in Q1 2024, driven mainly by Energi Teknikk AS.

• Focus remains on commercializing carbon capture technology for lime and cement industries, leveraging strong pilot results.

• Carbon capture rates exceed 90% with product gas purity of 95% and energy consumption as low as 200 kWh/tonne.

Financial highlights

• Revenue increased 44% year-over-year to NOK 55.3 million in Q1 2025.

• Negative EBITDA improved to NOK 9.4 million from NOK 11.6 million in Q1 2024.

• Cash and cash equivalents stood at NOK 36.4 million at quarter-end.

Outlook and guidance

• Plans to deliver domestic CCUS projects with NorFraKalk and Yara, targeting TRL 9 commercial plants.

• Aims to expand market presence and formalize cooperation in European lime and cement sectors.

• Intends to strengthen global delivery model and commercial capacity through international partners.