ZEG Power has closed an investment round from StartupLab.

Norway Investments 18 December 2018
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ZEG Power, an Oslo, Norway-based energy company, announced that it had closed on an investment from StartupLab.

The deal, which has financial details undisclosed, is part of ZEG Power's objective of a further capital raise in order to enable execution of key activities, including the upscaling of the technology to a first commercial 1MW hydrogen production plant with integrated CO2 capture.

ZEG Power, founded in 2008 and led by CEO Kathrine K. Ryengen, was established as a Joint Venture between the two Norwegian research institutes Institute for Energy Technology (IFE) and Christian Michelsen Research AS (CMR). The objective of the company is to be a technology provider for large-scale plants, and an equipment provider for small-scale plants, for production of hydrogen and/or electrical power from hydrocarbon gases with integrated CO2 capture, based on the patented ZEG-technology.