Aker Carbon Capture

Regulatory Filings • Oct 6, 2023

Aker Carbon Capture awarded feasibility study for mineral production facilities in the United States

Aker Carbon Capture awarded feasibility study for mineral production facilities in the United States

Aker Carbon Capture has been awarded a feasibility study to implement carbon

capture for mineral production facilities in the U.S. Midwest. The combined

planned capture capacity will be approximately 1.5 million tonnes CO2 per year,

based on Aker Carbon Capture's Big Catch concept.

The feasibility study will develop a design and cost basis for Big Catch CO2

capture and conditioning facilities. Big Catch facilities are fully integrated

into the emitting production facility and include both advanced heat

integration, and downstream integration, enabling record low energy consumption

by making it possible to reuse energy along the value chain.

"We are excited to be working on this decarbonization project, which represents

a significant step in our strategy to expand into the North American market. We

are scaling up to meet the growing demand for carbon capture, utilization and

storage (CCUS) in North America, fueled by strong support from the U.S.

Government. New funding provided by the Infrastructure Investment and Jobs Act,

and favorable CCUS tax credit changes introduced by the Inflation Reduction Act,

have incentivized the deployment of CCUS substantially," said Jonah Margulis,

Head of North America at Aker Carbon Capture.

North America is one of the leading regions for CCUS development globally, both

with respect to announced projects under development and current operational

capacity. According to Rystad Energy, by 2030, the total volume of CO2 captured

could reach 200 million tonnes per year in this market.

"This is the third study awarded to Aker Carbon Capture in the United States

this year, bringing our total CO2 emissions under study contracts to above 3

million tonnes CO2 per year in this market. We will continue to build on this

momentum as part of our entry into North America," said Margulis.

Aker Carbon Capture is currently delivering seven carbon capture units in

Europe, with an accumulated capture capacity of 1 million tonnes CO2.

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

-capture), Facebook (https://facebook.com/akercarboncapture),

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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/).