Aker Carbon Capture

Regulatory Filings • Oct 16, 2023

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

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

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.

ENDS

Media contact:

Yannick Vanderveeren, mob: +47 458 36 358 (http://tel:+47 458 36 358),

email: yannick.vanderveeren@akercarboncapture.com

Investor contacts:

David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:

david.phillips@akercarboncapture.com

Aker Carbon Capture is a pure-play carbon capture company with solutions,

services and technologies serving a range of industries with carbon emissions,

including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen

segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a

unique, environmentally friendly solution for removing CO\2\ emissions.

Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect

with us on LinkedIn (https://www.linkedin.com/company/aker-carbon

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YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press

release may include forward-looking information or statements and is subject to

our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).