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AECOM to develop first phase of innovative Humber Zero carbon capture project
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Rhea-AI Summary
AECOM (NYSE: ACM) is leading the Humber Zero project, collaborating with VPI and Phillips 66 to secure permits for carbon capture and storage in Northern England. This initiative aims to capture up to 8 million tons of CO2 annually, aiding in the region's decarbonization efforts. The project is pivotal for maintaining industrial competitiveness and job security in the Humber region, home to 25% of the UK's refining capacity. AECOM emphasizes sustainability as part of its strategy, striving to create lasting positive impacts on local communities.
Positive
Leading the Humber Zero project enhances AECOM's position in the growing carbon capture sector.
The project aims to capture up to 8 million tons of CO2 annually, contributing significantly to sustainability efforts.
Humber Zero is expected to secure thousands of jobs in the Humber region, reinforcing AECOM's role in economic stability.
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AECOM will be working with VPI and Phillips 66 Limited to gain consents for the Humber Zero carbon capture and storage project.
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced it is leading the effort to obtain the consents and permits for the Humber Zero project, which will contribute to the decarbonization of critical industry in the Humber region of Northern England, United Kingdom.
The Humber Zero project will integrate carbon capture and storage (CCS) technology into units at the Phillips 66 Humber Refinery and VPI Immingham combined heat and power plant. By 2030, the project is expected to capture up to eight million tons of carbon dioxide (CO2) annually at source before it is transported via pipeline to permanent storage sites under the North Sea. Carbon capture will integrate specialist technology into the existing processing units and plants, including absorption techniques to capture and recover the CO2.
“The Humber Zero project reflects the importance of advancing key sustainability initiatives that create a positive impact on the communities where we operate, which is a key component of our Sustainable Legacies strategy,” said Lara Poloni, AECOM’s president. “By integrating world-class carbon capture and storage technology, we are demonstrating how we can help take important steps towards reaching net zero emissions and creating positive social value.”
AECOM, supported by planning consultants DWD, will oversee the Humber Zero project through the permitting phase, preparing planning and permit applications and supporting the environmental impact assessment. This work will include a detailed review of the impact the Humber Zero project may have on the local environment and community.
Jonathan Briggs, VPI project director for Humber Zero said: “Humber Zero will secure critical industry in the Humber region, which is home to more than 25 percent of the UK’s refining capacity. Decarbonizing industry will ensure its competitiveness and help secure tens of thousands of jobs in the region and beyond.”
AECOM is committed to delivering its transformative environmental, social, and governance objectives through its Sustainable Legaciesstrategy, ensuring the work it does in partnership with clients leaves a positive impact for years to come.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure and power construction, and oil & gas maintenance and turnaround businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
