ZEG Power closes NOK 200m Series-B capital raise

10th November 2022

ZEG Power announced in September 2022 the successful closing of its Series-B capital raise. The funding round raised NOK 200m (c. USD20m) and was led by SLB’s New Energy division and was followed by existing investors. AP Ventures is delighted to welcome SLB to the ZEG Power shareholder group and looks forward to collaborating with SLB in scaling the technology. The funding will support: commissioning and start-up of the first-of-a-kind H1 plant; development of ZEG Power’s medium-scale H15 system (15tpd capacity); and expansion of the team.

The SLB investment will be accompanied by technical support and collaboration to rapidly scale the ZEG Power technology by harnessing SLB’s process engineering excellence. In addition to technical collaboration, ZEG Power and SLB will deepen their commercial relationship as the two parties work towards global deployment of the ZEG Power technology for clean hydrogen production at scale.


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