Aker Carbon Capture awarded pre-FEED in Sweden covering more than 200,000 tonnes of CO2 per year

Rhea-AI Summary

Aker Carbon Capture awarded pre-FEED in Sweden

Positive

• Aker Carbon Capture has been awarded a pre-FEED for a Just Catch application by a Swedish energy company, further strengthening their position in the Swedish market.
• Sweden aims to become carbon neutral by 2045 and is positioning itself as a global leader in carbon dioxide removal credits from bioenergy with carbon capture and storage.
• Aker Carbon Capture is currently delivering a Just Catch unit at a waste-to-energy facility in the Netherlands.
• The company's experience from ongoing projects will be important for their growing Swedish customer base.

Negative

• None.

OSLO, Norway, Oct. 16, 2023 /PRNewswire/ -- Aker Carbon Capture has been awarded a pre-FEED (pre-Front End Engineering Design) for a Just Catch application by a Swedish energy company. The award follows an earlier feasibility study contract for another Swedish company, Söderenergi, announced in June, further strengthening Aker Carbon Capture's position in the growing Swedish market.

"We are pleased to see positive market development in Sweden. We have seen a significant boost in interest across the Scandinavian market after we won a contract in May to deliver five Just Catch units for Ørsted in Denmark. The level of activity has been high and growing at our Swedish office in Stockholm this year," said Jon Christopher Knudsen, Chief Commercial Officer at Aker Carbon Capture. 

Sweden aims to become carbon neutral by 2045 at the latest. After 2045, Sweden is to achieve negative net CO2 emissions. As part of these ambitions, Sweden is positioning itself to become a global leader in generating high quality and durable carbon dioxide removal (CDR) credits from bioenergy with carbon capture and storage (BECCS). The country has a large bio-energy sector.

"Many Swedish emitters are now looking into BECCS and the potential to produce CDRs. The Ørsted contract enabled by a partnership between Ørsted, Microsoft and Aker Carbon Capture where the creation and offtake of CDRs was a key enabler for the business case. We aim to replicate similar CDR models also in Sweden", Knudsen concluded.

At Twence's waste-to-energy facility in the Netherlands, Aker Carbon Capture is currently also delivering a Just Catch unit. These flagship projects contribute to Aker Carbon Capture's mission to standardize and modularize carbon capture plants, with reduced footprint and significant cost and energy benefits, to the mid-scale emitter market. 

"The fact that we are already delivering seven carbon capture units today, including unique compact and modular products, as well as safe and reliable project delivery, is a key differentiator. We believe the experience we gain from these ongoing projects will be highly important for our growing Swedish customer base", Knudsen continued. 

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/pr161023,c3225524

PR161023

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SOURCE Aker Carbon Capture ASA

FAQ

What is Aker Carbon Capture?

Aker Carbon Capture is a company that specializes in carbon capture technology.

What is the significance of the pre-FEED award?

The pre-FEED award strengthens Aker Carbon Capture's position in the Swedish market.

What are Sweden's carbon neutrality goals?

Sweden aims to become carbon neutral by 2045 and achieve negative net CO2 emissions.

What is BECCS?

BECCS stands for bioenergy with carbon capture and storage, which is a method of generating carbon dioxide removal credits from bioenergy.

What projects is Aker Carbon Capture currently working on?

Aker Carbon Capture is currently delivering a Just Catch unit at a waste-to-energy facility in the Netherlands.