Welcome to our dedicated page for AKER CARBON CAPTURE U/ADR news (Ticker: AKRCY), a resource for investors and traders seeking the latest updates and insights on AKER CARBON CAPTURE U/ADR stock.
Aker Carbon Capture U/ADR (symbol: AKRCY) is a leading company dedicated to enabling carbon removal and reduction. The company focuses on developing and implementing carbon capture technology for various industrial applications. Their primary product, the Just Catch™ modular offering, is a standardized solution that allows for the pre-fabrication of carbon capture units, making the deployment of these technologies faster and more cost-effective.
Recently, Aker Carbon Capture has made significant strides in the carbon capture industry. In March 2024, they signed a Memorandum of Understanding (MoU) with CO280 Solutions to develop large-scale Carbon Dioxide Removal (CDR) projects in the US and Canadian pulp and paper industry. This collaboration aims to deploy Aker Carbon Capture's modularized Just Catch series to reduce emissions from recovery boilers, power boilers, lime kilns, and other stack emissions. This partnership has the potential to address a critical supply gap in the CDR market, offering permanent and verifiable carbon removals.
In another strategic move, Aker Carbon Capture announced an agreement with SLB to combine their carbon capture businesses. This partnership will leverage ACC's commercial carbon capture product offering and SLB's new technology developments, creating a platform for accelerating the introduction of early-stage technologies into the global market. This combined business is expected to support accelerated industrial decarbonization at scale, with SLB owning 80% and ACC 20% of the combined entity.
Furthermore, Aker Carbon Capture has been awarded a pre-FEED for Statkraft's Heimdal waste-to-energy plant, aiming to capture 220,000 tonnes of CO2 per year. This project is part of Norway's ambitious climate goal of reducing greenhouse gas emissions by 55% by 2030 and represents a significant step in the decarbonization of the waste-to-energy industry.
In April 2024, Aker Carbon Capture, CO280, and Microsoft signed an MoU to explore opportunities for scaling carbon removal in the US and Canada. This collaboration aims to create a scalable model to deploy large-scale projects quickly to meet global net-zero targets. The partnership will leverage Microsoft's digital capabilities to provide high-integrity carbon credits and promote policies that support the carbon capture market in the pulp and paper industry.
Aker Carbon Capture's financial condition remains robust, backed by strategic partnerships and a strong pipeline of projects. Their ongoing projects include delivering seven carbon capture units across Europe, contributing to the development of serial production of carbon capture units.
For investors and stakeholders, Aker Carbon Capture presents a compelling opportunity to engage in the growing carbon capture market, with proven technologies and a clear vision for industrial decarbonization.
Aker Carbon Capture has secured a test campaign and feasibility study for Fortum Waste Solutions in Nyborg, Denmark, focusing on carbon capture with a target capacity of 170,000 tonnes CO2/year. The initiative aims to support Fortum's goals for carbon neutrality by 2030, leveraging Aker's modular carbon capture technology. Following a previous project at Twence's facility in the Netherlands, insights gained will enhance this new study. The project includes a Mobile Test Unit replicating a full-scale Aker plant, ensuring reliable results for potential large-scale implementation. Denmark aims for a 70% reduction in greenhouse gas emissions by 2030, further highlighting the project's significance in the fight against climate change.
Aker Carbon Capture will release its financial results for the first quarter of 2023 on April 26, 2023, at 07:00 CEST. An online presentation of the results is scheduled for the same day at 15:00 CEST, where attendees can submit questions during the event. This financial update is crucial for AKRCY investors seeking insights into the company's performance and future direction. The event's link for access is available here. Further media and investor inquiries can be directed to the provided contacts in the release. This update is anticipated by stakeholders monitoring Aker Carbon Capture's market position and strategic initiatives.
Aker Carbon Capture has been selected by the UK Government as a successful bidder in Phase 2 of the Track 1 CCUS Cluster Sequencing Process for its projects with bp and Viridor. These projects aim to capture significant amounts of CO2, including up to 2 million tonnes per year for bp's mega-scale gas-to-power project and around 1 million tonnes for Viridor's Runcorn CCS project. This initiative aligns with the UK’s commitment to achieve net-zero emissions and supports the £20 billion CCUS funding announced in the Treasury's Spring Budget. The government will continue expanding CCUS projects to meet its 2030 carbon capture targets.
On March 24, 2023, Oscar Fredrik Graff, a Board member of Aker Carbon Capture, acquired 10,000 shares at a price of NOK 13.60 each. Following this transaction, Graff holds a total of 10,000 shares in the company. This acquisition complies with the Market Abuse Regulation, indicating insider trading activity.
The press release emphasizes the importance of such disclosures under regulatory requirements.
On February 16, 2023, Jon Christopher Knudsen, Chief Commercial Officer of Aker Carbon Capture, purchased 10,000 shares at NOK 14.95 each. Post-transaction, Knudsen's total holdings in the company rose to 51,356 shares. This insider trading notification complies with Market Abuse Regulation requirements. Investors may find this activity significant as it reflects insider confidence in Aker Carbon Capture's future. For more detailed information, please refer to the primary insider notification form.
Aker Carbon Capture ASA will present its fourth-quarter 2022 results on February 15, 2023, at 15:00 CEST. The presentation will be available via a webcast, which can be accessed at this link. Interested participants can submit questions during the event, and the presentation material will be published at 07:00 CET on the same day. For media inquiries, contact Yannick Vanderveeren at +47 458 36 358. For investor queries, reach out to David Phillips at +44 7710 568279 or Christian Yggeseth at +47 915 10 000.
Aker Carbon Capture has secured a feasibility study to develop two carbon capture plants for Röhm, a leading chemicals manufacturer, targeting the capture of nearly 500,000 tons CO2 annually. This collaboration combines Aker's amine technology with Röhm's expertise in producing methyl methacrylate-based products, crucial for various industries, including automotive and medical. The initiative supports both companies' decarbonization goals and enhances Aker's position in the German market. The study will explore carbon capture viability in Röhm's major production areas, addressing specific flue gas challenges.
Aker Carbon Capture has initiated a pre-engineering study for a carbon capture facility in collaboration with St1 at the Finnsementti cement plant in Lappeenranta, Finland, aiming for a renewable synthetic methanol production. The facility is expected to capture approximately 40,000 tonnes of CO2 annually, contributing to the production of 25,000 tonnes of methanol each year. This project marks Aker's entrance into the Finnish market, leveraging insights from its ongoing facility at Norcem's cement plant in Norway. The Finnish Ministry has provisionally granted EUR 35.4 million in funding for the project, which is expected to commence methanol production by 2026.
Aker Carbon Capture has inaugurated the world's first carbon capture pilot for smelters at Elkem's Rana plant in Norway. This pilot, featuring a Mobile Test Unit (MTU), aims to capture 1.5 million tonnes of CO2 from combined emissions, contributing to climate targets. The project involves multiple partners and emphasizes the importance of carbon capture in metal industries. The CO2 HUB Nord initiative will further verify the technology for potential full-scale industrial application. Elkem's CEO highlighted the need for carbon capture in reducing emissions while supporting green transitions.
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