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GLOBAL TRANSFORMATION

Imagine a world without the burden of CO2 emissions. Without the specter of global warming. That has been our dream for over a decade. We are Sargas, a company in Norway, who by looking at engineering differently, have unlocked the POWER OF NEAR ZERO. We’ve discovered the technology to provide the world with Clean Power from fossil fuels. A proven transformative technology, using off-the-shelf components in a new way, for greenfield or retrofitted plants to create inexpensive clean energy globally. Not in decades, not in generations but right here, right now. It is the bridge to renewable energy sources, which are still decades away due to cost realities and political indecision.

Our patented designs capture 90% of the CO2 and virtually eliminate NOx, SOx and Hg emissions, whether applied to greenfield or retro-fitted plants. Sargas has the patented knowledge, IP and commercial know-how to turn CO2 emissions from a liability into an asset. Our technology is available on a license basis for immediate global impact. Sargas is working hard to deliver its part of such change. That's the POWER OF NEAR ZERO.

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BOARD OF DIRECTORS

Henrik Fleischer

Chairman of the Board & CEO

Henrik Fleischer; a graduate of the Royal Norwegian Naval Academy and Vienna University. Henrik has served as commanding officer of a missile carrying fast patrol boat and is an entrepreneur from the maritime sector with extensive experience as agent, owner and developer

Dr. Einar Chr. Lange

Economics degree from Cambridge University. Medical doctor from Oslo University. Owner and Chairman of the family shipowning firm, Einar Lange’s Rederi

Jan Henrik Jebsen

Jan Henrik Jebsen extensive experience includes advisory services in the financial field for companies such as Lazard & Co, Paris. Jan Henrik is currently Chairman of the Board of the Gamma Applied Visions Group.

Finn Kristensen

Finn Kristensen has held several positions within the Government of Norway including Minister of Petroleum and Energy and Minister of Industry and Trade. He also served as a Director of Statoil from 1989 to 1994

Frode Lervik

Frode Lervik; Master of Science from the Norwegian School of Management (Siviløkonom) and a MBA from IMD in Lausanne. CEO at Farma Holding, a Norwegian based Speciality Pharma company with a yaerly turnover of NOK 300 milliones. CEO of the internet-company CoShopper/CoTech. Experience includes management consultants at McKinsey, finance manager at Borregaard and product manager at Ringnes.

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MANAGEMENT

SARGAS has a team of people with extensive experience in the areas of combustion engineering, chemical and production engineering, strategy and finance as well as, public-private project management. The team is expanding rapidly. The current key individuals are:

Henrik Fleischer, Chairman of the Board

Henrik Fleischer, co-founder of Sargas, is a graduate of the Royal Norwegian Naval Academy and Vienna University. Henrik has served as commanding officer of a missile carrying fast patrol boat and is an Entrepreneur from the maritime sector with extensive experience as agent, owner and developer.

Trevor Nash, Chief Executive Officer

Trevor Nash has a BSc (Hons) in Civil Engineering from University College London and an MBA from the London Business School. Before joining Sargas, he was acting COO at Masdar in Abu Dhabi and also worked in the area of clean energy in various roles including President Clinton's Foundation. Prior to working in clean energy, he was an Investment Banker for 21 years.

Dermot Liddy, Chief Commercial Officer

Dermot Liddy formerly managed the Clinton Foundation's Clean Energy Group at the Clinton Climate Initiative. He was responsible for the Foundation's extensive global work in the carbon capture and sequestration (CCS) field and Renewable Energy. He has been a senior executive and co-founder of companies in both the biotech field and the renewable energy sector.

Knut Børseth, Chief Innovation Officer

Knut Børseth, co-founder of Sargas, is a naval architect and holds a large number of patents in the fields of floating production vessels and oil field development. He was awarded a technical honorary degree from Science and Technical Research of Norway (NTNF) in 1989

Per Herbert Kristensen Vice President Technology & Contracting

Formerly Managing Director of Moss Maritime, a leading LNG ship and oil production platform design company.
Past experience includes executive management roles at Trosvik Shipyard, Trosvik Engineering, Dyvi Engineering Seatec/Stena Drilling.
Engineering degree from Trondheim Technical University of Norway

Dr. Herman De Meyer, Head of Process Engineering

Dr. Herman De Meyer holds a Ph.D. in Physical Chemistry from Leuven and has more than 20 years of expertise in chemical plant engineering and mobilization. He has been responsible for cutting edge projects where tens of millions of dollars have been saved by advanced engineering approaches

Paul Gandola, President, Sargas Inc., USA

Paul Gandola is involved in Sargas' U.S. business development activities.  He is a member of the bars of Ohio and Pennsylvania, and has worked with the U.S. Federal Trade Commission, as well as various private practice areas.  He has served as counsel and a consultant to the Ohio Aerospace Institute, and has managed projects in collaboration with NASA.

 

S. J. Lee, Sargas, Director Korean Operations, Seoul, Korea

S. J. Lee is one of the pioneers in the Korean Shipbulding industry with large achievements therein.

Martin Rödén, Director of Business Development

 

Martin Rödén holds a Master of Science specializing in Energy and International marketing from Chalmers Institute of Technology in Sweden. He has an extensive international career with leading management positions in Sweden, France, Germany and China in different technologies such as software development; telecom systems; energy saving & control systems, and electronics

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TECHNICAL TEAM

Per Herbert Kristensen Vice President Technology & Contracting

 

Engineering degree from Trondheim Technical University of Norway
Formerly Managing Director of Moss Maritime, a leading LNG ship and oil production platform design company
Past experience includes executive management roles at Trosvik Shipyard, Trosvik Engineering, Dyvi Engineering Seatec/Stena Drilling

Dr. Herman De Meyer, Head of Process Engineering

 

Dr. Herman De Meyer holds a Ph.D. in Physical Chemistry from Leuven and has more than 20 years of expertise in chemical plant engineering and mobilization. He has been responsible for cutting edge projects where tens of millions of dollars have been saved by advanced engineering approaches.

Stellan Hamrin, Senior Specialist Engineer

Stellan Hamrin holds a Master of Science in Mechanical Engineering and has 14 years experience from PFBC technology. Has been working with fluid flow and dynamic structural analysis in Gas Turbine and nuclear power applications, apart from the PFBC-application. He has also been working with other CO2-capture projects where he holds several patents.

Jens-Olaf Jacobsen, Sr. Project Manager

Jens-Olaf Jacobsen held senior technical positions in the Royal Norwegian Navy as well as a senior consultant, GHRDC, UAE advisor to the environmental authorities, Abu Dhabi, HSE Management, Energy Conservation Manager, BP Exploration Europe, HSE Manager, and ADCO.

Lars-Göran Johansson, Engineer, Senior Performance Specialist

Lars-Göran Johansson has more than 30 years experience in atmospheric and pressurized fluidized bed boilers in different types of plant operations from greenfield to retrofit introductions.

Leif Kemmer, Senior specialist Engineer

Leif Kemmer holds a Masters of Science in Mathematics, Physics, Chemistry and Mathematical Statistic. He has more than 30 years experience in Steam Turbine, PFBC and gas combined cycle plants design and performance engineering.

Claes Nygren, CEO of Sargas Sweden

 

Master of Science in Mechanical Engineering. Extensive international career with leading management positions in Sweden, Finland, Brazil, USA and Japan regarding nuclear, HVDC and PFBC technologies

Kristian Sjöstedt, Senior Specialist Engineer

Kristian Sjöstedt holds a Master of Science in Mechanical Engineering and has 25 years of experience in PFBC technology.

Sven-Olof Östman, Senior Specialist Engineer

Sven-Olof Östman is a Technical college graduate with 25 plus years of experience in PFBC boiler mechanical design.

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EMISSIONS

Sargas designs and builds integrated power plant facilities that capture 90% of CO2 and other coal-related pollutants through proprietary knowledge, intellectual property, patented technology and experience in the greentech and ultra-low emission power plant arena. We are convinced the world needs practical robust new energy solutions and we’re working hard to make this dream come true.

Sargas works with an alliance of leading international companies to achieve this goal. This alliance includes an industrial fabrication and EPC (Engineering, Procurement and Construction) enterprise, Daewoo Shipbuilding & Marine Engineering (DSME) in Korea and SNC- Lavalin in Canada. Together, these billion dollar companies provide integrated manufacture, engineering and fabrication capability for turnkey Sargas power plants as well as CO2 capture plants and CO2 transport ships.

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WHAT IS EOR?

EOR or Enhanced Oil Recovery is a series of techniques used by the oil industry to increase the amount of oil that can be extracted from a reservoir. During a standard production life cycle, an oilfield goes through a number of stages where various techniques are employed to maintain crude oil production at plateau levels - primary, secondary and tertiary recovery. Typically following primary and secondary production up to 40% to 70% of the original oil in place still remains unproduced or 'stranded'. During the primary phase natural pressure brings the oil to the surface. During the secondary phase water is typically added to create the now diminishing primary pressure. In the tertiary phase gases, chemicals, microbes, heat, or even energy, such as the stimulation of the oil through vibration energy is added to continue economic production. One such method of tertiary recovery involves the injection of CO2 as a miscible gas to both aid the free movement of the oil and provide the pressure to 'push' it through to the surface.

eor diagram

EOR has been practiced around the world over over 30 years. In the United States natural CO2 from subterranean entrapments has been used consistently and to the great effect to both prolong the production of oil in specific reservoirs for decades and a transparent, market driven value chain has been established. The application of CO2 as a miscible gas has been widely reported to prolong the lifecycle of a reservoir and increase the production by two to 5 barrels of oil for every ton of CO2 injected, depending on many factors including geography, geology and the volumes of CO2 injected.This has led to the demand for CO2 as a valuable injection gas and created a market based value for CO2 typically value in ton or scf units Currently, over 100 million tonnes of CO2 are utilized annually in the United States to economically increase the production of oil. In an environment of ever increasing demand for oil and correspondingly rising prices, the demand for CO2 is increasing but growth in the market is obstructed by the declinng availability of natural CO2. A significant market opportunity exists for the economic and industrial manufacture of CO2 that could be usedeither to supplement the supply of natural CO2 or establish a CO2 to Oil value chain where none currently exists.

A number of major oil producing countries have also a strong interest in accessing economic supplies of CO2 in large reliable quantities including USA, Saudi Arabia, UAE, Kuwait, Turkey and European countries. The market potential is significant for CO2 at the right price and technical specification. Until now many of the technologies used to capture CO2 at volume from industrial but also importantly power plants have proven unreliable, environmentally problematic or far too costly. Sargas has created a proprietary and patented technology for the competitive tecno-economic separation of CO2 from fossil fuels used in the generation of electricity.

eor map
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COAL

(Pressurized combustion. Highly efficient, pressurized flue gas purification. Optional compact, low energy pressurized CO2 capture. Low-cost, field proven components only.)

TOPOLOGY

Compressed air, coal and SOx sorbent - combusted in a pressurized combustor. Nearly fully-fired combustor, cooled by the production of steam. Pressurized flue gas purified in a train of highly efficient and very compact, pressurized purification units including filter, co- and countercurrent scrubbers and NOx reduction unit Optional. Compact, pressurized and low parasitic energy CO2 capture employing stable, non-volatile and widely available mineral absorbent. Optional, compact and pressurized metallic mercury abatement.

SUPERIOR OPERATION

Availability 95 %. Thermal efficiency 42%, sub-critical (8200 Btu/kWh) without CO2 capture. Thermal efficiency 36%, sub-critical (9500 Btu/kWh) with CO2 capture. Robust combustion including lower-grade fuels. Up to 30% bio fuel. Very low footprint, 2000 to 4000 m2 for a 275MWth unit with CO2 capture. Competitive cost of electricity.

ULTRA CLEAN PERFORMANCE

Low NOx: No thermal NOx in combuster, efficient, pressurized SCR, 50% of residual NOx captured in pressurized scrubbers. Virtually all ammonia slip captured in scrubbers. Low SOx: Highly efficient capture in combuster, virtually all remaining SOx captured in pressurized scrubbers. Low CO: Ensured by long residence time in combuster. Virtually zero particulate matter: Removed directly from combuster, and from pressurized flue gas down to 2 microns in metal cartridge filter, down to 0.1 micron in cocurrent scrubber, any remaining in subsequent counter current scrubbers. Virtually zero VOC: Ensured by long residence time in combuster, no organic or volatile components in CO2 absorbent, none generated or emitted. Optional metallic Mercury abatement: Absorbed on sulfur or selenium impregnated pellets, compact equipment in combination with large residence time enabled by high flue gas pressure. General: Pressurized filtering and scrubbing of flue gas removes most pollutants to below detection limits. This includes most heavy metals and all sour components including HCl and HF.

Application

The plant may be built on site, land-locked, or on a floater. The latter preferably done at a shipyard, reducing capital expenditure by up to 20% or more. Large systems may be 275 MWth or multiples thereof. Because of compact size, retrofit/repowering is possible in a relatively small space. The plant may be built with CO2 capture, or as a capture ready system. The capture ready system will remove all contaminants, except CO2, to the same low levels as the capture installed version. The plant may operate as a power only or combined heat and power system. The latter can yield up to 90% overall efficiency including CO2 capture.

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REFINERY WASTE

(Pressurized combustion. Highly efficient, pressurized flue gas purification. Optional compact, low energy pressurized CO2 capture. Low-cost, field proven components only.)

TOPOLOGY

Compressed air, refinery waste fuel - fired in a pressurized combustor. Nearly fully-fired, two burner stages, cooled by the production of steam. Pressurized flue gas purified in a train of highly efficient and compact, pressurized purification units including co- and countercurrent scrubbers and NOx reduction unit. May be customized for the fuel in question. Optional, compact, pressurized and low parasitic energy CO2 capture employing stable, non-volatile and widely available mineral absorbent.

SUPERIOR OPERATION

Availability 95%. Thermal efficiency 45%, sub-critical (7500 Btu/kWh) without CO2 capture. Thermal efficiency 40%, sub-critical (8500 Btu/kWh) with CO2 capture. Robust combustion customized for gas with large percentage CO2, liquids, etc. Very low footprint, 2000 to 4000 m2 for a 275MWth unit with CO2 capture. Max height typically 45m. Low cost of electricity. Fuel and site dependent.

ULTRA CLEAN PERFORMANCE

Low NOx: Efficient,pressurized SCR, 50% of residual NOx captured in pressurized scrubbers. Virtually all ammonia slip captured in scrubbers. Low SOx: Virtually all SOx captured in pressurized scrubbers. Low CO: Ensured by long residence time in burners and optional CO oxidation catalyst. Virtually zero particulate matter: Removed down to 0.1 micron in cocurrent scrubber, any remaining in subsequent counter current scrubbers. Virtually zero volatile organic compounds: Ensured by long residence time in burners, no organic or volatile components in CO2 absorbent, none generated by absorbent or emitted from absorbent. Optional metallic mercury abatement: Absorbed on sulfur or selenium impregnated pellets, compact equipment in combination with large residence time enabled by high flue gas pressure. General: Pressurized filtering and scrubbing of flue gas removes most pollutants to below detection limits. This includes most heavy metals and all sour components including HCl and HF.

APPLICATION

The plant may be built on site or delivered on a barge. Any plant size is possible. Because of compact size, retrofit / repowering is possible within original space. The plant may be built with CO2 capture, or as a capture ready system. The capture ready system will remove all contaminants, except CO2, to the same low levels as the capture installed version. The plant may operate as a power only or combined heat and power system with steam export. The latter can yield up to 90% overall efficiency including CO2 capture.

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GAS

(Extremely high thermal efficiency. Highly efficient, pressurized flue gas purification. Optional compact, low energy pressurized CO2 capture. Low-cost, field proven components only.)

TOPOLOGY

High temperature firing. Secondary combustion gives nearly fully-fired system. Ensures high steam parameters and extremely high overall thermal efficiency. Pressurized flue gas purified in a train of highly efficient and very compact, pressurized purification units including co- and countercurrent scrubbers and CO and NOx reduction units. Includes compact, pressurized and low parasitic energy CO2 capture, employing stable, non-volatile and widely available mineral absorbent.

SUPERIOR OPERATION

Availability 95+ % .Thermal efficiency above 50%, sub-critical (6600 Btu/kWh) w/ CO2 capture. Pressurized combustion and capture provides small system footprint. Low cost of electricity.

ULTRA CLEAN PERFORMANCE

Low NOx: Efficient, pressurized SCR, 50% of residual NOx captured in pressurized scrubbers. Virtually all ammonia slip captured in scrubbers. Low CO: Ensured by long residence time in burners and optional CO oxidation catalyst. Virtually zero volatile organic compounds: Ensured by long residence time in burner, burner downstream of gas generator, no organic or volatile components in CO2 absorbent, none generated by absorbent or emitted from absorbent. California emissions compliant.

APPLICATION

The plant may be built on site or in a shipyard. Typical systems are 500 MWth or multiples thereof. Because of compact size, retrofit/repowering is possible within original space. The plant includes CO2 capture. For capture ready, please inquire. The plant may operate as a power only or combined power and heat system.

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CO2 AS A COMMODITY

We’ve successfully commercialized its proprietary technology by improving coal and gas-fired power plants, land based or floating, via logistical off-take of CO2. By targeting EOR business cases and making them work in a commercial manner, we shall demonstrate that CCS pays for itself. It can be done NOW - without subsidies or grants. Sargas plants deliver EOR-ready CO2, i.e CO2 that has the right quality and has eliminated corrosion resulting from most other CO2 capture technologies.

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COST IMPERATIVE

The Sargas patented technology of pressurized combustion and downstream pressurized flue gas scrubbing is 40 times more efficient than conventional capture without pressure. This, plus the fact that a pressurized plant has a much smaller footprint, reduces overall cost of Sargas technology substantially. Whether greenfield or retrofitted to power apparatus, the cost of electricity resulting from capture of CO2 is less than USD $0.02 /KWh, corresponding to a capture cost of around USD $20/ton CO2, in the case of coal firing at current fuel cost levels (6/2012). At this high rate of efficiency the barrier to entry for CO2 capture is negligible and is also affordable for developing nations. For the first time, global transformation is more than a cost effective possibility but a feasible imperative for the future security of our planet.

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PERFORMANCE

A consortium of able and willing associates will deliver Sargas' systems with suitable to make our products industrial and financeable. These include alliance partners Daewoo Shipbuilding & Maritime Engineering Co. Ltd. (DSME) and SNC- Lavalin, who will provide plants on an engineering, procurement and construction (EPC) basis.

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NEWS

PRESS RELEASE

June 19, 2012 | GE

GE and Sargas AS Announce Alliance for Enhanced Oil Recovery

  • Sargas Technology Powered by GE’s LMS100 Gas Turbine is Expected to Produce 250 Megawatts of Electricity and Carbon Dioxide for Enhanced Oil Recovery
  • Commercial Projects Underway in USA and Europe

GE (NYSE: GE) today announced it has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). The Sargas plant will combine a configuration of the existing LMS100 aeroderivative gas turbine package from GE with Sargas’ patented combustion and carbon-capture technology enabling low emissions power generation. The technology provided by Sargas captures carbon dioxide (CO2) at pressure, which requires lower capital investment costs and can be built quickly with existing or slightly modified subsystems and equipment. The Sargas power plant delivers significantly lower costs of electricity and captured CO2 per ton and therefore enables the Sargas-led engineering, procurement and construction (EPC) consortium to offer industrial-scale volumes of economically competitive CO2 for EOR applications worldwide. GE’s LMS100 turbine is a combination of proven frame and aeroderivative gas turbine technology and represents one of the most extensive collaborations of design and manufacturing expertise in the history of GE, delivering unparalleled efficiency. In combination, the new configuration of the LMS100 in the Sargas plant can capture CO2 for EOR with high efficiency and low parasitic load.

Announcing the Alliance, Sargas' Chief Executive Henrik Fleischer said, "Traditional EOR supplies of naturally occurring carbon dioxide stored underground is running out, and with oil prices expected to remain above $80/bbl it is important for oil companies to maximize oil production with enhanced oil recovery. Traditionally, carbon capture for gas-fired turbine plants relied on government subsidies and advanced technology research. Our solution, in combination with GE technology, will revolutionize the worldwide energy industry providing flexible carbon capture for greater energy independence through EOR. It also offers low-emissions electricity, in a proven and practical manner. Sargas is fortunate in being able to partner with best-in-class industrial giants including DSME of Korea."

DSME President & CEO Jaeho Ko greeted the announcement with enthusiasm for its potential to significantly enable a growing EOR industry and positively impact global climate change policy and interventions. He said, "We are very much delighted that GE has entered into an alliance with Sargas. GE’s standing in the global turbine and power sector is unparalleled. We have developed the new CO2 technology with Sargas over the last three years and have strong confidence that this new technology will make a fundamental contribution to the immediate deployment of economic cleaner energy. DSME is a leading EPC constructor in the shipping and oil and gas sectors with over 35,000 personnel and $11 billion in annual sales. We at DSME are committed to the cleaner energy sector thanks to this flagship technology and stand ready to make this joint vision come true.”

On the alliance, Darryl Wilson, president and CEO—Aeroderivative gas turbines for GE Power & Water stated, “As one of the world’s most efficient gas turbines, GE’s LMS100 is an optimal solution for a pressurized carbon capture plant for EOR applications. The three-shaft system architecture of the LMS100 enables adaptability for use in a carbon capture EOR application. The LMS100 provides a highly efficient production of pressurized flue gas that empowers Sargas technology. EOR with compressed CO2 has been used for more than 30 years, but with an increased demand expected and with natural underground sources of CO2 being exhausted, there is an increased need for new sources. This new alliance between GE and Sargas can help promote energy independence through development of oil fields in the United States.”

About Sargas and Its Alliance with DSME and SNC-Lavalin

Sargas is a Norwegian solution provider in the field of carbon capture technology and EOR with offices in Norway, Sweden, Korea and the USA. Sargas pressurized CO2 capture technologies require lower amounts of energy to capture CO2 from flue gas, which will revolutionize carbon capture for EOR in large scale. Sargas owns global patents and a best-in-class industrial solution, offering solutions for natural gas, coal and biomass applications.

Sargas also has created an alliance with world-leading companies Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) and SNC-Lavalin. DSME is a leading fabricator and constructor in the shipping, oil and power sectors with over 35,000 personnel and $11 billion in annual sales. SNC-Lavalin is a Canadian-headquartered company that will manage the process and provide EPC (engineering, procurement, construction) expertise to the alliance. Sargas and partners focus on business cases providing such plants in conjunction with EOR, thereby creating a total value chain from electricity sales, power plant production, CO2 logistics and sale to boost oil productions. Started in 1973, DSME has since grown into the world's premium shipbuilding and offshore contractor who is specialized in building various vessels, offshore platforms, drilling rigs, FPSO/FPUs, submarines and destroyers.

About GE’S LMS100

Defining a new era of flexible power generation, GE’s revolutionary LMS100 provides a single, economical solution for the dispatch needs of nearly every market condition. With unparalleled efficiency, 10-minute start times, unmatched hot day performance, load following and cycling capabilities, the LMS100 is the ideal solution for power generation planners and developers in a variety of load cycles from peak power to base load. The LMS100 is a GE ecomagination product enabling grid stability and load following of wind and solar solutions.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com. GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.

For more information, contact:

Rick Goins Charli Collins

GE Power & Water Sargas Public Relations

+1 281 740 1422 +44 (0) 207 881 7785

m: +44 (0) 7818 868 288

richard.goins@ge.com

sargas@tetra-strategy.co.uk

Gina DeRossi or Howard Masto

Masto Public Relations

+1 518 786 6488

gina.derossi@mastopr.com

howard.masto@ge.com


PRESS RELEASE

Sargas announces breakthrough commercial natural gas fired power plant with CCS to be built in Norway

press release 6/19

Sargas AS, the Norwegian solution provider in the field of carbon capture and storage technology and EOR (Enhanced Oil Recovery), has today announced it has acquired a controlling interest in Industrikraft Møre AS (IKM), a single purpose company licensed by the Norwegian authorities to establish a natural gas basedpower plant with carbon capture at the municipality of Fræna on the North Western Coast of Norway. Sargas, having developed and patented this cutting edge CCS (Carbon Capture & Storage) technology, will head up the project ownership, which will later include other partners. This Sargas plant may capture 90 per cent of the CO2 and will be able to deliver about 450 MW. It may deliver electric power to the area’s offshore oil and gas fields, the Ormen Lange gas terminal and to the onshore grid. The Ormen Lange gas field nearby the IKM site provides about 20 per cent of the UK’s gas imports and the power plant at IKM may increase energy security not only for this part of Norway, but also further secure the UK’sx gas imports. Other areas of exploitation include supplying the Norwegian offshore oil fields with electricity and premium quality CO2 for EOR utilization on a commercial basis. Besides the IKM project, similar full scale power plants projects are soon to be announced in the USA, Middle East and Africa.

This follows the recent announcement by GE that they had concluded a commercial alliance agreement with Sargas to provide their state of the art LMS100 turbine to be used with Sargas’s patented CCS technology, enabling a highly efficient gas fired power production with carbon capture.

Separately, Sargas has engaged with Daewoo Shipbuilding & Marine Engineering (DSME) as its licensee, and SNC-Lavalin for a commercial agreement to prepare for offering the turnkey provision of coal fired power plants.

Sargas and its partners are committed to providing cleaner global energy, and believe this joint effort to be a major contribution to the fulfillment of the UN’s climate goals for 2100. Recently experts, amongst them Dr. Asbjørn Torvanger of The Center for International Climate and Environmental Research in Oslo, have concluded that equipping all new coal fired power plants constructed from 2015 and onwards with CCS, will be the single most effective action to fight global warming towards the end of this century. Adding gas fired power plants to such a scenario will further limit rising temperatures. The Sargas technology is able to produce electricity from all carbon based fuels, at affordable costs.

Sargas and its partners are committed to providing cleaner global energy, and believe this joint effort to be a major contribution to the fulfillment of the UN’s climate goals for 2100. Recently experts, amongst them Dr. Asbjørn Torvanger of The Center for International Climate and Environmental Research in Oslo, have concluded that equipping all new coal fired power plants constructed from 2015 and onwards with CCS, will be the single most effective action to fight global warming towards the end of this century. Adding gas fired power plants to such a scenario will further limit rising temperatures. The Sargas technology is able to produce electricity from all carbon based fuels, at affordable costs. Sargas’ Chief Executive Henrik Fleischer states, “Creating a commercial value chain for CO2 as pressure support for EOR is a prerequisite for successfully battling global warming. EOR becomes an increasingly important means in order to bridge the expected energy gap increase until sufficient new sustainable energy sources complying with the world’s energy demands are in place. Traditional supplies of naturally occurring CO2 of EOR quality stored underground are rapidly becoming a scarce source, and captured CO2 from power production represents the logical replacement. The world’s rewards for constructing CO2 pipelines off and on shore, specialized vessels and other purpose built cargo transportation means, will be significant in the shape of enhanced oil recovery and thus improved energy security. Our game-changing power production with EOR will, due to its high cost efficiency, facilitate a carbon capture regime affordable to all nations. The Sargas solution is based on well proven standard industrial components set up with our patented interface technology.

About Sargas

Sargas is a Norwegian solution provider in the field of carbon capture technology and EOR with offices in Norway, Sweden, Korea and the USA. Sargas pressurized CO2 capture technologies require lower amounts of energy to capture CO2 from flue gas, which will revolutionize carbon capture for EOR in large scale. Sargas owns global patents and a bestin- class industrial solution, offering solutions for natural gas, coal and biomass applications. Sargas also has created an alliance with billion dollar companies Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) and SNC-Lavalin, to build turnkey Sargas power plants. Sargas and its partners focus on business cases providing plants in conjunction with EOR, thereby creating a total value chain from electricity sales, power plant production, CO2 logistics and sale to boost oil productions. Started in 1973, DSME has since grown into the world's premium shipbuilding and offshore contractor who is specialized in building various vessels, offshore platforms, drilling rigs, FPSO/FPUs, submarines and destroyers.

For more information, contact:

Charli Collins Bryn. Freberg

Sargas Public Relations London | Sargas Public Relations Oslo

+44 (0) 207 881 7785 +47 9066 36 46

m: +44 (0) 7818 868 288

sargas@tetra-strategy.co.uk

b.freberg@kreabgavinanderson.com

www.sargas.no

www.ge.com

www.dsme.co.kr

www.snc-lavalin.com


June 19, 2012 5:01 am

FINANCIAL TIMES ARTICLE:

GE Launches New Carbon Capture Technology

By Ed Crooks in New York

General Electric of the US and Sargas of Norway have launched a new technology for capturing carbon dioxide emissions from power plants that they say will be much cheaper than rival processes and commercially viable without any government subsidy The two companies said that they have formed an alliance to sell gas-fired plants that would capture 90 per cent of their output of carbon dioxide, which can then be injected into oilfields to squeeze out more crude.

They expect to be able to supply carbon dioxide at prices that are much lower than the capture costs faced by other prototype projects now under development, and even well below the $30 per tonne paid in the oil industry in Texas.

The companies plan for the technology to be used initially in two plants, one on the coast of Norway and one along the Gulf of Mexico.

Henrik Fleischer, chief executive of Sargas, a small company set up in 2003, said: “None of the other solutions that are in laboratories or on spreadsheets even comes close to this in terms of cost and efficiency.”

There has been widespread international interest and government support for carbon capture as a way to head off the threat of catastrophic climate change while continuing to use the fossil fuels that provide the majority of the world’s energy.

Yet the carbon capture industry has been littered with abandoned projects, budget overruns and broken deadlines.

Sargas had previously hoped to have plants in service by 2014, but now says its first projects with GE technology will be operational in 2016.

The two companies say using the captured carbon for enhanced oil recovery – injecting it into mature oilfields to raise production – will make the economics of their technology work. In Texas, oil companies pay about $30 per tonne for carbon dioxide, generally from natural sources, to use in their fields.

For GE, the investment is part of a strategy of investing in technologies to reduce carbon dioxide emissions and, as developed in a series of recent acquisitions, to serve the oil and gas industry.

Until recently, most of the investment in carbon capture focused on coal-fired plants, which create more emissions than gas plants, but the rise of shale production has increased interest in technology for gas-fired generation.

The world’s oilfields could only hold a fraction of total carbon dioxide output from power plants.

However, John Thompson of the Clean Air Task Force, an environmental group, said using carbon dioxide in oilfields could help kick-start the technology.

“Enhanced oil recovery allows capture technology to be deployed at scale and shave five or ten years off its development, which could be critical in avoiding the worst effects of climate change,” he said.


Industrial alliance for affordable CCS and electricity.

Sargas and Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) have signed on with SNC-Lavalin Constructors Inc. to build ultra clean coal fired power plants based on Norwegian Sargas technology. The partnership delivers low cost CO2 capture solutions, with guaranteed performance which lead to a new era with ultra clean power from fossil fuels.

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SARGAS AS

Solligaten 2

P.O. Box 2451

Solli 0201 Oslo

Norway

Tel.: +47 22 54 08 40

Email: mail@sargas.no

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  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
  • GE AND SARGAS LAUNCH ONE OF THE WORLD'S FIRST AFFORDABLE CARBON CAPTURE GAS TURBINE PLANTS
  • DSME AND SARGAS FORM PRODUCTION ALLIANCE
  • SARGAS TO DELIVER 200-250 MW PLANT WITH GE IN NORWAY AND US
Sargas GE Alliance Partner
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