Aker Carbon Capture and MAN Energy Solutions join forces to accelerate CCUS in North America

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Aker Carbon Capture and MAN Energy Solutions have signed a Memorandum of Understanding to pursue opportunities related to carbon capture, utilization, and storage (CCUS) and CO2 compression in the North American market. The two companies will leverage their expertise in compressor technology, amine technology, and carbon capture products to drive scale through cost-efficient developments with optimized energy consumption and delivery time. North America is a leading region for CCUS globally, and the total volume of CO2 captured could reach 200 million tonnes per year in this region by 2030, according to Rystad Energy.

OSLO, Norway, Jan. 23, 2024 /PRNewswire/ -- Aker Carbon Capture and MAN Energy Solutions have signed a Memorandum of Understanding to jointly pursue opportunities related to carbon capture, utilization and storage (CCUS) and CO2 compression in the North American market. The agreement leverages MAN's expertise in compressor technology and system integration, as well as Aker Carbon Capture's proven amine technology and carbon capture products. The adoption of standardized and modularized solutions will contribute to drive scale through cost-efficient developments with optimized energy consumption and delivery time.

The two companies are currently collaborating on delivering the world's first carbon capture plant for the cement industry at Heidelberg Materials' Brevik CCS project in Norway. 

"We are thrilled to expand our cooperation with MAN Energy Solutions to the North American market, where we see significant potential for CCUS to drive the transition towards net zero", said Jonah Margulis, Head of North America at Aker Carbon Capture. "This agreement will strengthen our position to remove and reduce carbon emissions from industries and energy solutions, which is supported by strong incentives from the U.S. Government".

"We are delighted to work with ACC, which appreciates our comprehensive expertise in compressor solutions in general and in the area of CO2 compression in particular. We feel encouraged by the high level of interest in our technical solution concepts that we are on the right path towards sustainable decarbonization of the industries that have previously had particularly high emissions", said Dr. Marco Ernst, Head of Sales and Project Management CCS at MAN Energy Solutions.

North America is one of the leading regions for CCUS globally, with a large number of projects under development and in operation. According to Rystad Energy, the total volume of CO2 captured could reach 200 million tonnes per year in this region by 2030, which is twice the size of the current European market.

Media contact:
Yannick Vanderveeren, mob: +47 458 36 358, email: yannick.vanderveeren@akercarboncapture.com

Investor contacts:
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com

The following files are available for download:

https://news.cision.com/aker-carbon-capture-asa/i/pr-man,c3259330

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SOURCE Aker Carbon Capture AS

FAQ

What is the significance of the agreement between Aker Carbon Capture and MAN Energy Solutions?

The agreement aims to jointly pursue opportunities related to carbon capture, utilization, and storage (CCUS) and CO2 compression in the North American market, leveraging their expertise in compressor technology, amine technology, and carbon capture products.

What is the potential impact of the agreement on the North American market?

The agreement is expected to contribute to driving scale through cost-efficient developments with optimized energy consumption and delivery time in the North American market, supporting the transition towards net zero emissions.

What is the projected volume of CO2 captured in North America by 2030?

According to Rystad Energy, the total volume of CO2 captured could reach 200 million tonnes per year in North America by 2030, making it a leading region for CCUS globally.