Questerre and ZEG Power sign letter of intent for blue hydrogen

ZEG Power is pleased to announce a letter of intent (LOI) with Questerre Energy Corporation (Questerre), to evaluate our proprietary leading edge blue hydrogen technology for Questerre’s Clean Tech Energy project in Quebec. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We believe hydrogen will become a cornerstone of the emerging circular economy. As we move from near zero emissions responsible production of natural gas to the idea of zero emissions consumption, the technologies to capture the carbon emissions are essential. ZEG Power has designed a one step process that produces hydrogen and captures the carbon dioxide with improved economics. We are studying how to incorporate it into our project in Quebec.”

He added, “Our goal is a material net negative carbon project. Through reducing, recycling and storing of emissions we can create a paradigm shift in what sustainable energy is. The ZEG Power process produces zero emissions hydrogen and a pure stream of carbon dioxide that can be recycled to make other low emissions products including concrete, plastics, fertilizer and other industrial feedstocks. Any excess emissions can be permanently stored.”

Pursuant to the LOI, the companies will explore joint venture opportunities to apply the ZEG Power technology to produce clean hydrogen and/or clean power from Questerre’s Clean Gas project. This will include the engineering and economic due diligence for a demonstration plant concept and subsequent scale up to larger commercial plants. Subject to requisite corporate approvals, Questerre will have an exclusive right to the ZEG Power technology in Canada for a period of one year from the completion of the engineering with a right of first refusal in Canada thereafter.

In a statement on the joint venture, Kathrine K. Ryengen, Chief Commercial Officer of ZEG Power, commented, “We are very pleased to announce the cooperation with Questerre. Their Clean Tech Energy project in Quebec represents a unique opportunity for us to commercialize our technology in Canada. We will build on the learnings from the engineering recently completed for our first plant at the CCB Energy Park in Kollsnes, on the west coast of Norway, where we expect production to commence in 2022.”

About ZEG Power

ZEG Power’s goal is to offer a clean alternative for global energy production. ZEG Power’s value proposition is efficient production of clean hydrogen from hydrocarbon gases with integrated CO2 capture, based on the patented ZEG-technology. ZEG Power was established in 2008 as a spin-off from Institute for Energy Technology (IFE), Norway. The company is currently in the process of upscaling and commercializing its technology, in cooperation with key industrial partners, and supported by strong owners and positive market trends.

About Questerre

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

Questerre’s common shares are traded on the Toronto Stock Exchange in Canada and Oslo Stock Exchange in Norway under the symbol QEC.

For further information, please contact:

Questerre Energy Corporation

Jason D’Silva, Chief Financial Officer

(403) 777-1185 | (403) 777-1578 (FAX) |Email:


ZEG Power

Kathrine K Ryengen, Chief Commercial Officer

+47 99418696 | email:

Pressemelding – Bellona og ZEG Power Samarbeid

Raskeste vei til utslippsfritt hydrogen

Utslippsfritt hydrogen fra gass kan leveres så snart Langskip er på plass i 2024. Nå inngår Bellona og ZEG Power samarbeid om hydrogen og karbonnegative løsninger. – Vi må tenke stort for å løse både klimaproblemet og energibehov, levere nullutslipp og aller helst bidra til å fjerne CO2, sier Kathrine Ryengen i ZEG Power.

Siden lanseringen av EU Green Deal i 2019 har utsiktene for norsk energieksport endret seg betydelig. EU vil fase ut norsk gass og vil ha behov for store mengder utslippsfritt hydrogen. Hydrogen har også fått betydelig politisk oppmerksomhet i Norge, blant annet fra statsminister Erna Solberg og i regjeringens klimaplan.

– Norge har alle muligheter til å bygge industri og ny verdiskaping på et globalt behov for utslippsfrie løsninger. ZEG Power er nettopp en slik satsing, og en spydspiss i arbeidet for industrialisering av utslippsfri hydrogenproduksjon, sier stifter Frederic Hauge i Bellona.

Kickstart på hydrogenøkonomien

ZEG Power springer ut av teknologimiljøet på IFE, med en ny løsning for omdanning av gass til hydrogen. En av nyvinningene er en konsentrert CO2-strøm som kan gå rett til lagring.

– Omdanning av gass til hydrogen med CO2-lagring er raskeste vei til utslippsfritt hydrogen i stor skala. Dette er spennende teknologi for Bellona å jobbe videre med, sier Hauge.

Langskip-prosjektet skal etablere en verdikjede for CO2, med fangst, transport og lagring i Nordsjøen. Dermed kan gass omgjøres til utslippsfritt hydrogen, siden CO2 fanges og lagres.

– Med Langskip på plass i 2024 kan vi lage utslippsfritt hydrogen. Slik kan vi bidra til å kickstarte en hydrogenøkonomi både i Norge og internasjonalt. Men nullutslipp er ikke nok i et lengre perspektiv, sier Kathrine Ryengen, CCO i ZEG Power.

Fra utslippsfritt til karbonnegativt

Med bruk av biogass kan hydrogenet bli ikke bare utslippsfritt, men karbonnegativt – altså ta karbon ut av kretsløpet.

– Muligheter for karbonnegative løsninger er noe av det vi nå skal finne ut av sammen med Bellona, sier Ryengen.

Karbonfangst og –lagring har vært en fanesak for Bellona siden 1992. Med lagring på plass i løpet av få år, åpnes helt nye dører for industrielle løsninger, mener Hauge.

– Nå har industrien alle muligheter til å tenke helt nytt om sine utslipp og hvordan de kan bidra til å ta CO2 ut av kretsløpet. Vi kommer til å bruke mye tid på slike initiativer fremover, og er svært fornøyde med å få på plass et samarbeid med ZEG om dette, sier Hauge.

Hauge advarer mot faren for å gå seg vill i en jungel av løsninger som resirkulerer CO2.

– Det er avgjørende at CO2 håndteres riktig. Prioritet nummer 1 er å ta CO2 ut av kretsløpet og lagre den. Svært strenge kriterier må på plass for eventuell bruk av CO2 som skal krediteres en form for klimanytte. Bellona jobber videre med dette, både i Oslo og ved Brussel-kontoret vårt, sier Hauge.


For spørsmål, ta kontakt med:
Kathrine Ryengen, CCO ZEG Power, / +47 99418696
Christian Eriksen, fagsjef Bellona, / +47 98488398

Bellona in brief

The Bellona Foundation is an international environmental NGO working on the major climate and environmental problems. Founded in 1986 as a direct action protest group, Bellona has become a recognised technology and solution-oriented organization with offices in Oslo, Brussels, UK, St. Petersburg and Murmansk, and representatives in USA and several EU Member States. Frederic Hauge, founder of Bellona, was named a TIME Magazine Hero of the Environment in the award’s inaugural year 2007. In addition to Hauge, some 60 engineers, ecologists, biologists, economists, lawyers, political scientists and journalists work at Bellona. Our websites are in Norwegian, English and Russian.


ZEG Power in brief

ZEG Power is a Norwegian company that aims to offer the world a cost efficient, clean alternative for energy production. ZEG Power delivers technology and solutions for efficient production of clean hydrogen from hydrocarbon gases, with integrated carbon capture. Examples of hydrocarbon gases are natural gas and biogas. Natural gas is currently the largest source of hydrogen. Hydrogen from biogas combined with carbon capture can achieve a negative carbon footprint. ZEG Power’s technology is based on research and development originated from the Institute for Energy Technology (IFE). More info:


Arild Selvig appointed new CEO in ZEG Power

ZEG Power is pleased to announce the appointment of Arild Selvig as the new CEO of ZEG Power as the company enters a new growth phase focusing on industrialization of its technology in the clean hydrogen market space.

Arild has more than 30 years leadership experience from the energy industry, where he has been heading up strategy, R&D, M&A, and commercial activities as well as delivering turnkey solutions and services to the global market.

“It is a great pleasure to welcome Arild as a member of the ZEG Power team”, says Chairman of the Board, Carl Lieungh. “We strongly believe that ZEG Power’s technology for clean hydrogen production, combined with the very favourable macro trends towards clean energy, puts the company in a unique position for further growth. Arild is a seasoned industry leader with a proven and impressive track record as well as sharing our vision “Empower the World with Clean Energy”.

Arild Selvig has a MSc degree in Petroleum Engineering from NTNU and Master in Technology Management from NTNU/NHH/Sloan School of Management under MIT in Boston. In addition, he has a Business Administration Candidate degree from Norwegian School of Management.

He started his career on the E&P side working more than 10 years in Norsk Hydro O&G across the entire upstream value chain. He also has 20 years experience with FMC and TechnipFMC in various senior executive roles where his responsibilities recently were expanded to also include TechnipFMC’s growth initiatives within renewables such as offshore wind, hydrogen, and wave energy. Arild starts in his new position in ZEG Power on March 1, 2021.

“ZEG Power is a world leading and innovative company with an impressive portfolio of proprietary technologies. I am really excited to join the very competent ZEG Power team and contribute to the prosperous growth of the company. ZEG Power’s recognition as a solution provider in the hydrogen market is impressive, and with the significant growing interest for hydrogen as a source of energy, I really look forward to start as the new CEO of the company “, says Arild Selvig.

Kathrine K Ryengen taking on a new role in ZEG Power

ZEG Power has recently established a solid platform for commercializing its innovative technology for clean hydrogen production, with new owners onboard, and supported by public financing institutions

The company is currently in the process of strengthening the team in order to ensure successful upscaling and realisation of its first commercial product, a ZEG H30 production unit to be installed and put into operations at CCB Energy Park, Kollsnes, as well as establishing a commercially attractive business.

Based on a wish to focus on the commercial aspects of ZEG Power’s further development and growth, current CEO Kathrine K Ryengen has requested to transition to the role as Chief Commercial Officer (CCO) in ZEG Power.

The company has thus started the search for candidates for the CEO role.

“Possibly Norway’s most interesting job, considering ZEG Power’s relevant and innovative technology for clean hydrogen production, in combination with very supportive macro trends related to hydrogen’s role in the global clean energy transition. A unique opportunity for the right individual.” says Chairman of the Board, Carl Lieungh. “The fact that the company recently has attracted private capital from international and Norwegian investors as well as public funding from Enova to support the next step in the development, provides a robust foundation from a financial aspect and a great platform for further growth.” he continues

“I am very happy to have been trusted the important role as CEO in ZEG Power during the last few critical years, and I am both very proud of what we as a team have achieved during that time and strongly motivated to continue to develop the commercial side of the business going forward, in close cooperation with the rest of the ZEG team” says Kathrine K Ryengen. “There is a time for everything, and I believe my efforts should be put where my strengths are, on the commercial side. I am convinced that we are now in an exceptionally good position to attract the best talent with the right experience and motivation to take on the CEO role from here, which makes this important choice easier for me.” she continues.

Kathrine K Ryengen will ensure a smooth transition by continuing in the CEO role until the new CEO is in place.

“On behalf of ZEG Power Board and owners I would like to express our gratitude for Kathrine’s strong contributions to the success of the company so far, and our respect and support in terms of her wish to transit to the CCO role. Until we have in place the new CEO, she continues to have our full trust and mandate as CEO” says Carl Lieungh.

For more information, please contact:
o Kathrine K Ryengen (CEO): 99418696.
o Carl Lieungh (Chairman of the Board): 91664720.

For more information about the CEO position, please contact:
o Marianne Furre: 93415932.

Carl Lieungh elected Chairman of ZEG Power from August 10, 2020

ZEG Power has elected Carl Lieungh as the new Chairman of the Board. This follows additional changes to the board recently made. The new board now comprises the following members:

Carl Lieungh – Chairman
Bertil Gunnar Jörgen Lundberg
Audun Abelsnes
Kevin Eggers
Jean-Baptiste Curien
Phillipus Rudolf Heydenrich


Carl has long experience within the oil, gas and marine industry. He has strong technical and project management background from working for various Aker and Kværner companies for more than 15 years. Further, he has a strong international business acumen developed over the years from senior management positions in companies like Sevan Marine, NCA, Siemens, KPS and Hitec/HitecVision, and extensive experience of various board positions.

«I am pleased to have the opportunity to contribute to the further development of ZEG Power in collaboration with an extremely competent board and team. Hydrogen is widely accepted as a particularly efficient energy carrier, and I am convinced that ZEG Power’s cost-efficient technology with integrated carbon capture will be able to play a significant role in the market for environmentally friendly energy production in the future.» Carl Lieungh says.

ZEG Power owners, board members and team hereby extend a warm welcome to Carl! And at the same time express a strong gratitude to Fredrik Mowill for his important contributions in the role as Chairman of the Board in ZEG Power during the past 2 years.

ZEG expands the technical team

ZEG expands the technical team with the hiring of Margrethe Stenrød West and Vidar Graff

Margrethe has extensive experience with process design, optimisation and engineering within the oil and gas industry. She comes from a management position in KANFA AS where she worked as process lead for several studies, bids and projects and she was also involved in growth of the company from a start-up to an established market player.  She holds a Master of Science (MSc) from NTNU, Norway, and a Master of Business Administration (MBA) from La Trobe University, Australia.

Vidar has 9 years technical background from oil and gas industry working for Aker Solutions and Equinor. Graff has comprehensive process and project experience from e.g. Johan Sverdrup, covering conceptual development, detail engineering, offshore commissioning and start-up. He holds a MSc in Chemical Engineering from NTNU, Norway, with 1-year study abroad at Curtin University, Australia.

Warm welcome to ZEG Power!

CCB og ZEG Power får tildelt 77 millioner i ENOVA-støtte til utslippsfri hydrogenproduksjon og karbonfangst på CCB Energy Park. Stor betydning for fremtidig arbeidsplasser.

Enova har besluttet å gi tilsagn om 77,4 millioner i investeringsstøtte til CCB og ZEG Power for etablering av industrielt pilotanlegg for karbonnøytral hydrogenproduksjon ved CCB Energy Park i Øygarden kommune utenfor Bergen. Tildelingen gjøres innenfor Enovas program for Pilotering av ny energi- og klimateknologi.

Coast Center Base AS (CCB) er et proaktivt og innovativt selskap med mer enn 45 års erfaring innen maritime, industrielle, samt olje- og energirelaterte markeder. CCB har store ambisjoner om å delta aktivt i utvikling av klimanøytral teknologi og løsninger.  CCB synliggjør sin strategi og ambisjon ved å etablere et nytt konsern med fokus på produksjon og tjenester innen klimavennlige områder. Selskapet ønsker å tilby kundeløsninger i samsvar med klimaforventningene. Pilotanlegget vil etableres på CCB Energy Park i Øygarden kommune, men etter hvert vil fokuset utvides til også å kunne omfatte andre lokasjoner nasjonalt.

CCB har inngått samarbeid med ZEG Power, et norsk teknologiselskap som har utviklet teknologi for å produsere hydrogen fra gass med integrert CO2-fangst, for å etablere produksjon av karbonnøytralt hydrogen fra naturgass ved CCB Energy Park.

CCB Energy Park er en ideell lokasjon for bruk av naturgass til hydrogenproduksjon med effektive distribusjonsløsninger til maritim sektor, landtransport og industrielle aktører. I løpet av få år vil etableringen av Northern Lights Project (CCS) på samme lokasjon, gi mulighet for mottak og permanent lagring av CO2 offshore.

Norsk teknologi skal produsere utslippsfri hydrogen

Hydrogen vil bli en sentral energibærer for lavere utslipp til industrien, maritime sektor og tungtransport. I dag produseres hydrogen hovedsakelig fra naturgass uten karbonfangst- og lagring (CCS), og en viktig teknologiutvikling er å produsere hydrogen kostnadseffektivt uten klimaskadelig utslipp.

Gjennom CCBs nyetablerte selskap H2 Production AS vil vi levere høyeffektiv og storskalavennlig hydrogenproduksjon med integrert karbonfangst. Anlegget og teknologien baseres på ZEG Powers patenterte løsning som er utviklet ved Institutt For Energiteknikk (IFE).

Intensjonen er å etablere infrastruktur og betjene logistikken rundt salg og distribusjon i en helhetlig verdikjede. Det langsiktige målet for CCB er å etablere storskala hydrogenproduksjon fra CCB Energy Park med fremtidige leveranser av hydrogen i henhold til kunders ønsker og krav, enten dette er trykksatt, flytende eller som ammoniakk.

ZEG powers teknologi gjør det mulig å effektivt produsere utslippsfritt hydrogen fra naturgass, med karbonfangst som en integrert del. Pilotanlegget vil dimensjoneres for en hydrogenproduksjon på 30 kg/time (ca 250 tonn/år), og danner grunnlaget for et kommersielt produkt. Produksjonen er planlagt startet allerede i 2022. Inntil CO2-lagringsanlegget er etablert, planlegger CCB og ZEG Power å bruke biogass som input-gass for å muliggjøre karbonnøytral hydrogenproduksjon. Med integrert CO2 fangst og storskalavennlig teknologi, vil fremtidige anlegg kunne bidra til å levere karbonnøytralt hydrogen til konkurransedyktige priser sett opp mot dagens alternativer.

Pilotanlegget representerer første trinn i CCB og ZEG Powers ekspansjonsplan om å bygge storskala kapasitet for produksjon og leveranse av kostnadseffektivt, karbonnøytralt hydrogen fra CCB Energy Park, og påfølgende kommersialisering og internasjonal vekst.

«CCB har hele tiden vært i front ved å tilby innovative løsninger i et marked i stadig endring. Vi var blant de aller første i landet som etablerte bunkringstilbud for LNG og landstrøm for fartøyer og rigger mm. En naturlig forlengelse for dette er nå å utvikle og tilby klimanøytralt hydrogen produsert lokalt, for et bredt spekter av kunder. CCB ivaretar dermed lokal industriutvikling og klyngetenkning, og har tett samarbeid med myndigheter. Vi ser på dette som en av mange løsninger for å oppnå våre nasjonale klimaforpliktelser.

Som selskap har vi bidratt til realisering av nye industrikonsepter og tilrettelegging av nye virksomheter og arbeidsplasser. Vi er stolte av å kunne være en sterk bidragsyter og tilrettelegger for omstilling til nye energiløsninger. Kombinasjonen av etablert virksomhet, tilgang på ressurser og stedets unike lokasjon gir store muligheter for en industriell utvikling ikke bare på lokalt plan, men også på et nasjonalt nivå. Prosjektet understøtter en grønn omstilling og bygger på den betydelige kompetanse Norge har opparbeidet seg innen olje- og gassindustrien.» sier Ronny Haufe, Executive Vice President i CCB.

«Jeg vil takke for tilliten som vi nå får, ved at Enova har besluttet å støtte vårt prosjekt som bidrar til Norges forpliktelser for et bedre klima og ikke minst for utvikling av fremtidige arbeidsplasser.» avslutter Haufe.

«At Enova har besluttet å støtte prosjektet er veldig positivt. ZEG-teknologien representerer en løsning som kan bidra til grønn utnyttelse av betydelige gassressurser på norsk sokkel. Som igjen vil bidra til grønn verdiskapning. Noe Norge trenger!» Sier Kathrine K. Ryengen, daglig leder i ZEG Power.

«CCB og ZEG Power sitt prosjekt er i kjernen av regjeringens hydrogenstrategi, siden prosjektet både understøtter grønn omstilling, og samtidig bygger videre på den betydelige kompetanse Norge har opparbeidet seg innen olje og gassindustrien. Norge ønsker å ta en lederrolle internasjonalt innen fornybar og klimanøytral energi, og dette er et stort steg i retning av å realisere den drømmen. Hydrogen vil gi store muligheter for Norge som energinasjon», legger Ryengen til.

«Å kunne produsere hydrogen kostnadseffektivt er en viktig brikke inn mot lavutslippssamfunnet, hvor hydrogen kan ha en sentral rolle å spille både innenfor industrien og til transportformål. Derfor er det veldig gledelig at CCB sammen med ZEG ønsker å teste ut teknologi som både kan øke virkningsgraden, få ned prisen og kutte utslipp», sier adm.dir. Nils Kristian Nakstad i Enova.

«Interessen for hydrogen er økende, og globalt kan ZEG-teknologien utfordre dagens løsninger. Det er svært gledelig at CCB og ZEG Power får tildelt utløsende prosjektstøtte for å skalere norsk hydrogenteknologi i et voksende marked», sier Jean-Baptiste Curien, investeringsansvarlig i Nysnø Klimainvesteringer. Nysnø deltok nylig sammen med CCB og andre norske og internasjonale investorer i en emisjon i ZEG Power.


For mer informasjon ta kontakt med:

Ronny Haufe, Executive Vice President CCB, +47 913 50 660

Kathrine K. Ryengen, administrerende direktør i ZEG Power +47 994 18 696

Nils Kristian Nakstad, Adm direktør i Enova + 47 906 04 334



I konsernet CCB inngår en rekke selskap på flere lokasjoner i Norge. CCB tilbyr varierte tjenester til maritime- og petroleumsrelatert virksomhet med hovedvekt innen produksjon, vedlikeholds-/ havne-/ og logistikktjenester. Konsernet har ca 450 ansatte og omsatte i 2019 for 1,36 mrd. kroner. CCB har sitt hovedkontor på Ågotnes utenfor Bergen hvor også Bergen Havn vil bli lokalisert. Eierne, Bernhard Larsen Holding og Norsea Group, har etablert CCB Energy Holding for industriutvikling knyttet til CCB Energy Park i Øygarden. og


Om ZEG Power

ZEG Power er et norsk selskap som har som formål å tilby verden et grønt alternativ for energiproduksjon. ZEG Power leverer teknologi og utstyr for utslippsfri produksjon av hydrogen og elektrisitet fra hydrokarbongasser.




Øystein Løken Mørch to join the ZEG

Chief Project Officer (CPO) Øystein Løken Mørch to join the ZEG Team May 18th 2020

Øystein has 20 years background from the energy sector, where his last role was SVP global supply chain in Aker Solutions. His background also includes gas processing knowledge from Equinor and Ineos, and extensive experience from supply chain management and project management of comprehensive projects, in Aker Solutions – all valuable to ZEG Power to achieve successful industrialization and commercialization of our clean energy technology. Øystein holds a Master in Environmental Engineering from NTNU and an MBA from INSEAD.

ZEG Power is looking forward to welcoming Øystein as part of the team!

ZEG Power raises NOK 130m to deploy its zero-emission hydrogen production technology

ZEG Power’s ground-breaking technology for clean hydrogen production is attracting significant attention. The globally mandated AP Ventures and SPARX Group (Mirai Creation Fund), in addition to Nysnø, the Norwegian state-owned climate investment fund, are among investors investing over NOK 130 million into the company.

ZEG Power develops clean hydrogen production technology with integrated carbon capture, based on sorbent enhanced reforming, producing streams of high purity hydrogen and high purity carbon dioxide ready for utilisation or storage. The technology was originally developed at the Institute for Energy Technology (IFE), which through its venture arm IFE Invest, will remain ZEG Power’s major owner.

The Norwegian start-up has concluded an over-subscribed round of 130 million NOK, surpassing the 100 million NOK original target. Existing investors IFE Invest and Stratel are joined by AP Ventures, Nysnø, SPARX Mirai, Nordea Investment Management, Danske Capital, CCB, and CO2 Management. The company’s near-term goals are to focus on the upscaling and commercialisation of their technology to the 250 – 5000 tonnes H2/pa scale, the recruitment of a high-performing team, and growth of key partnerships.

The integrated and cost-competitive system will meet the growing demand for zero-emission hydrogen for both mobility and industrial applications. The first ZEG-H2 plant will be built in CCB Energy Park at Kollsnes, adjacent to the planned Northern Lights large scale CO2 storage facility. Production of clean hydrogen will start as early as 2022. Until the Northern Lights CO2 storage facility is established, ZEG Power will use renewable biogas as input-gas in order to enable clean hydrogen production.

Hydrogen production from the first ZEG-H2 plant and future site expansion shall provide zero-emission fuels to Norwegian and international transport and industry users. This will accelerate the transition to hydrogen as part of wider decarbonisation efforts by the Norwegian economy.


This overwhelming interest, from some of the world’s leading technology players, clearly shows how important the efficient production of emission-free hydrogen is for the future. It has been important for us to attract these types of investors, bringing “smart capital” to the table. Having these key players on board provides ZEG Power with financial muscles and the ability to succeed with our ambitious plans, both in Norway and internationally.” says Kathrine K. Ryengen, CEO, ZEG Power.

“The development of low-cost clean hydrogen technologies is critical to the decarbonisation of hard to abate sectors and the accelerated adoption of hydrogen mobility. I am very impressed by the ZEG Power team, and the innovative technology they are set to rollout to market. As a board member, I look forward to working with ZEG Power; sharing AP Venture’s expertise, experience and network within the global hydrogen economy to create further value for the Company.”, says Kevin Eggers, Partner, AP Ventures

The ZEG technology is an important next step to ramp-up clean hydrogen production, and enables Norway to build on existing industries and new markets towards the hydrogen economy. It is especially attractive that ZEG Power brings together value chains for hydrogen with carbon capture and storage, bringing new opportunities for Norway as an energy nation. We look forward to supporting ZEG Power through this next phase of commercialization at Kollsnes and beyond, says Siri Kalvig, CEO of Nysnø Climate Investments.

The production of low-carbon and low-cost hydrogen is key to unlocking the benefits of a hydrogen society. I am very excited by the potential of ZEG Power’s technology and look forward to supporting ZEG Power through scale-up and commercialisation.”, says Masatoshi Fukami, Representative Director, Executive Deputy President, for the Mirai Creation Fund,  SPARX Group.

“We are actively searching for companies that can help traditional industry companies transform to a future low-carbon regime. We believe ZEG Power have the potential to be one of those and are pleased to be an investor in the company”, says Lars Erik Moen, Head of Equity, Danske Invest. 

IFE has researched and developed the technology since 2001, and has put considerable efforts and resources into developing ZEG Power. We are very pleased to now get new investors onboard, with relevant competencies, network and capital to develop the company further”, says Nils Morten Huseby, President Institute of Energy Technology (IFE).

“We are looking forward to further develop and scale-up the ZEG technology together with our new investors. Our clean technology will contribute to reach climate neutrality as hydrogen becomes key in many industrial sectors.” says Jørgen Lundberg, CEO of IFE Invest AS.

“Our investment philosophy is Fun, Sense and Profit. So far, our investment in ZEG Power has made significant sense. Looking forward, with the new team, excellent partners, and highly regarded new owners in place, we look forward to fulfilling the remaining two; Fun and Profit!, says Reidar Lorentzen, Chairman, Stratel AS.

“It has been fascinating to follow ZEG Power as a Boardmember and seed investor on the journey from R&D project to a commercial scale-up that has attracted specialised international and national investors. ZEG Power strikes a nerve in the current energy transition with its relevant technology for producing hydrogen including carbon capture”, says Audun Abelsnes, Managing Director of Techstars Energy

CCB has a strategic ambition to become an active participator in building a total value chain, providing clean energy to the market. Based on ZEG Power’s technology, CCB will contribute to establish a future large-scale production and distribution of emission-free hydrogen at CCB Energy Park. This will be the best location for providing clean energy in various forms, both compressed and liquefied H2, and other future emission-free products”, says Ronny Haufe, EVP, Coast Center Base AS.

ABG Sundal Collier and First Corporate acted as financial advisors to ZEG Power in connection with the capital raise. Schjødt acted as legal advisor to ZEG Power.


About ZEG Power

Created in 2008, ZEG Power is a Norwegian company located in Oslo, that aims to offer the world a cost efficient, clean alternative for energy production.

ZEG Power delivers technology for the efficient production of clean hydrogen from hydrocarbon gases, with integrated carbon capture. Examples of hydrocarbon gases are natural gas and biogas. Natural gas is currently the largest source of hydrogen. Hydrogen from biogas combined with carbon capture can achieve a negative carbon footprint.

ZEG Power’s technology is based on research and development originated from the Institute for Energy Technology (IFE).

More info:


About Investors

About AP Ventures

AP Ventures is a venture capital fund headquartered in London. The Fund operates a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration, resource scarcity and a growing population.

Focus areas include: the hydrogen value chain; fuel-cell electric mobility; energy storage platforms; water treatment solutions; sensors; durable electronics; and biomedical devices.

The existing portfolio includes investments in Altergy Systems, Food Freshness Technology Holdings, ERGOSUP, Greyrock Energy, High-Yield Energy Technologies, Hydrogenious Technologies and United Hydrogen Group. All these companies either utilise or enable the use of Platinum Group Metals (PGMs).

AP Ventures is led by Andrew Hinkly (Managing Partner) and Kevin Eggers (Partner). Investors include Anglo-American Platinum, the Mirai Creation Fund, Mitsubishi Corporation, Plastic Omnium, and the Public Investment Corporation.

More info:


About SPARX Group

The Mirai Creation Fund I began operations in November 2015 with financing of JPY 13.5 billion from three companies: Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and SPARX, the Fund’s general partner. Ultimately, the Fund received contributions from 20 companies, including the above three. Casting intelligent technologies, robotics, and hydrogen-economy technologies as core technologies of the future, Fund I has invested in approximately 50 companies and projects—from the US, the UK, Israel, Singapore, and Japan—that possess innovative technologies in these fields. In H2 2018, SPARX began managing the Mirai Creation Fund II, which targets the three existing Mirai Creation fields along with the two additional areas of electrification and new materials. As of February 28, 2020, the combined AUM for Fund I and Fund II were JPY 109.3 billion.

Mirai Creation Fund investment track record:


About Nysnø Climate InvestmentsNysnø Climate Investments is a state-owned investment company established in 2017 and based in Stavanger, Norway. Nysnø Climate Investments manages NOK 1.4 billion and invests in companies and funds with profitable and smart solutions to climate change. Focus areas for investments are renewable energy, resource efficiency, enabling technologies, sustainable demand and circular economy. The existing portfolio includes Otovo, eSmart Systems, Disruptive Technologies, NorSun, Sarsia Seed II and ArcTern Ventures Fund II.  For more information see


About CCB

Coast Center Base (CCB) is a Norwegian company with extensive experience and expertise within providing facilities, services, production, engineering and maintenance. CCB has a strong focus on value chain management and is well established for operating and participating through networking. CCB is a 24/7 company with locations along the Norwegian coast and in Las Palmas.

Our ambition is to operate in a best possible environmental way. We organize our locations and design our activities in such a way that our customers and environment can act or conduct their business with a reduced carbon footprint.

For more information, see:


About Danske Invest

Danske Invest Asset Management AS is a Norwegian asset manager wholly owned by Copenhagen-listed Danske Bank A/S, one of the 20 largest banking groups in Europe. The firm manages Norwegian equities and fixed income, in addition to a number of multi-asset funds and discretionary mandates.


About Stratel

Stratel AS is a family owned Norwegian investment and development company, with the investment philosophy for Fun, Sense and Profit. The company is well known for successful investments in both startups and ventures:


About IFE

IFE is a leading international research institute within energy, health and industrial development.


About IFE Invest
IFE Invest AS is a fully-owned subsidiary of IFE, established to strengthen the commercialization effort from the institute and to contribute to a more active development of the spin-out companies. IFE Invest is responsible for all commercialization activities from IFE.


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