ZEG Power and CCB enters into strategic cooperation to establish cost efficient, clean hydrogen production from gas at Kollsnes

[Bergen 19 September 2019] In accordance with a mutual desire to promote cost efficient, clean and sustainable energy, ZEG Power and CCB today announced the signing of a Letter of Intent (LoI).

Photo: Morten Wanvik 

The target is to establish significant capacity for clean hydrogen production from gas at Kollsnes, enabled by ZEG Power’s innovative ZEG-H2 plants, based on an enhanced reforming technology with integrated CO2 capture.

“We are very happy to initiate this exciting project together with ZEG Power”, says CEO Øyvind A Langedal at CCB. “CCB sees clear synergies between the rollout of ZEG-H2 plants and the ongoing plan targeting to establish large-scale CO2 storage at CCB Kollsnes – the CCS-project Northern Light, he continues. “Conversion of natural gas to clean hydrogen is a significant industrial opportunity for Norway and Øygarden municipality, and is part of CCB’s long term strategy to contribute to reduced climate impact”.

“Kollsnes constitutes a strategic location for ZEG Power, and an enabler of the ZEG technology’s true potential” says Kathrine K. Ryengen, CEO of ZEG Power. “We view CCB Kollsnes as a fast-track to large scale ZEG-H2 plants, which in combination with CO2 storage will allow for large scale clean utilization of natural gas, leading to real CO2 reduction and true climate savings that are significant and relevant for Norway”, she says. “We very much look forward to continued collaboration with CCB and successful execution of our common ambitions going forward”.

About ZEG Power AS | www.zegpower.com

ZEG Power is a Norwegian clean energy company providing technology and equipment for transforming hydrocarbon gases into H2 with high efficiency and integrated CO2 capture.

About CCB AS | www.ccb.no

CCB is a Norwegian company that manages and carries out tasks that naturally result from owning various industrial base locations, including CCB Kollsnes, hereunder managing ownership interests and developing subsidiaries, performing administrative management tasks on behalf of subsidiaries, investing in companies with petroleum-related, maritime and trade and industrial activities.

Further details on the project will be released at a later point in time.

For further information, please contact:

Kathrine K Ryengen, CEO, ZEG Power

Mobile +47 994186096, kathrine.ryengen@zegpower.com

Ronny Haufe, EVP, CCB

Mobile +47 91350660, rh@ccb.no