ZEG and SLB sign Strategic Deployment Agreement (SDA) for ZEG’s Clean Hydrogen Production Technology

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.

Arild Selvig

CEO of ZEG

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.

About ZEG

ZEG develops ZEG ICC^TM technology, a clean hydrogen production technology with integrated carbon capture for various end-user applications, including industry and mobility sectors. The technology is based on sorption-enhanced reforming and was originally developed at the Institute for Energy Technology (IFE), a highly recognized research institute in Norway. ZEG recently opened the ZEG H1 plant at Kollsnes, Norway, which is the world’s first commercial clean hydrogen production plant with integrated carbon capture. ZEG H1 will produce approximately 1 ton of clean hydrogen per day.

ZEG’s owners include SLB, IFE Invest, Stratel, AP Ventures, Nysnø Klimainvesteringer, SPARX Mirai, StartupLab Founders Fund, Nordea Asset Management and Danske Invest.

ZEG ICC^TM

Read more about the ZEG technology here.

For more information, please contact:

Kathrine Kværnæs Ryengen

Chief Commercial Officer

ZEG Power

+47 99 41 86 96
kathrine.ryengen@zegpower.com

Arild Selvig

Chief Executive Officer

ZEG Power

+47 91 56 19 35
arild.selvig@zegpower.com