Welcome to our dedicated page for Aker Carbon Capt news (Ticker: AKRCY), a resource for investors and traders seeking the latest updates and insights on Aker Carbon Capt stock.
About Aker Carbon Capture (AKRCY)
Aker Carbon Capture ASA is a leading innovator in the carbon capture, utilization, and storage (CCUS) industry, dedicated to enabling large-scale industrial decarbonization. Headquartered in Norway, the company specializes in developing and deploying advanced carbon capture technologies to help industries reduce greenhouse gas emissions and achieve net-zero targets. Aker Carbon Capture's solutions address emissions from hard-to-abate sectors such as cement, waste-to-energy, bioenergy, and other process industries.
Core Business and Technology
The company’s flagship offering includes its modular Just Catch™ systems, which are designed to provide cost-efficient and scalable carbon capture solutions. These systems are pre-fabricated and standardized to minimize on-site installation time and costs, making them an attractive option for industries looking to decarbonize quickly and affordably. Aker Carbon Capture also provides large-scale, bespoke carbon capture solutions under its Big Catch portfolio, tailored to meet the needs of complex industrial facilities.
Aker Carbon Capture’s technologies are backed by extensive operational experience, with over 35,000 hours of testing on various flue gases globally. The company’s mobile test units allow clients to evaluate the feasibility of carbon capture at their facilities, ensuring scalability and reliability for large-scale implementation.
Strategic Partnerships and Market Position
Aker Carbon Capture has forged strategic alliances to accelerate the adoption of CCUS technologies. Its joint venture with SLB, named SLB Capturi, combines complementary expertise and resources to scale industrial decarbonization globally. SLB Capturi focuses on deploying modular and large-scale carbon capture projects, leveraging both companies' strengths to deliver innovative and cost-effective solutions.
Additionally, Aker Carbon Capture collaborates with global leaders like Microsoft and CO280 to explore opportunities in carbon dioxide removal (CDR) and digital traceability of carbon credits. These partnerships position the company as a key player in the voluntary carbon market and the broader decarbonization ecosystem.
Significance in the CCUS Industry
As industries face increasing regulatory and societal pressure to reduce emissions, Aker Carbon Capture plays a critical role in enabling sustainable transitions. The company’s projects, such as the Brevik carbon capture plant in Norway and the Twence waste-to-energy facility in the Netherlands, demonstrate its ability to deliver impactful, real-world solutions. These installations capture hundreds of thousands of metric tons of CO2 annually, contributing to global climate goals.
With a growing portfolio of projects across Europe and North America, Aker Carbon Capture is well-positioned to capitalize on the rising demand for CCUS technologies. Its focus on modularity, cost-efficiency, and strategic partnerships ensures its relevance in a rapidly evolving market.
Future Outlook
Aker Carbon Capture continues to innovate and expand its offerings, addressing emerging opportunities in biogenic CO2 removal and industrial decarbonization. Through its joint ventures and collaborations, the company is driving the commercialization of cutting-edge technologies while maintaining a strong commitment to sustainability. As the CCUS industry scales to meet global net-zero targets, Aker Carbon Capture remains a pivotal player in shaping its future.
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.
Aker Carbon Capture has signed a Letter of Intent for two Just Catch units for a project with a European customer, expected to capture 200,000 tonnes of CO2 annually. The final investment decision is anticipated in Q2 2023. The company is already constructing two flagship projects in Norway and the Netherlands, showcasing its commitment to decarbonization. The Just Catch modular concept allows for rapid deployment, with the aim to mass-produce carbon capture units for mid-scale emitters.
Aker Carbon Capture will assist Viridor with a pre-FEED study for the Runcorn CCS project located near Liverpool, aiming to capture 1 million tonnes of CO2 annually. This project marks a significant step towards large-scale carbon capture at energy-from-waste facilities. Viridor, the UK's largest waste company, aims for net-zero waste by 2040 and will leverage this partnership to innovate in resource recovery and recycling. The collaboration builds on a prior MOU aimed at advancing the UK's decarbonization efforts through next-generation CCS technology.