Aker Carbon Capture

Board/Management Information • Jul 11, 2023

Aker Carbon Capture appoints Egil Fagerland as new Chief Executive Officer

Aker Carbon Capture appoints Egil Fagerland as new Chief Executive Officer

Aker Carbon Capture announces the appointment of Egil Fagerland as its new Chief

Executive Officer with effect from today, July 11, 2023. Fagerland will replace

Valborg Lundegaard, who is stepping down to focus on her health and family.

Fagerland is currently CFO of Aker Carbon Capture and has been with the company

since April 2021.

Chairperson of Aker Carbon Capture Kristian M. Røkke said the Board was pleased

to announce Egil Fagerland as the company's new CEO. He praised Fagerland,

stating, "Egil has shown exceptional aptitude and leadership as the CFO of Aker

Carbon Capture. His track record in business growth and his solid understanding

of the CCUS industry make him an exemplary leader." Røkke expressed his

anticipation of Fagerland's contribution in his new role, "We are excited to see

Egil bring Aker Carbon Capture to its fullest potential, delivering on the

company's current project portfolio and expanding the company in new markets and

industries."

Røkke also paid heartfelt respect to Valborg Lundegaard, under whose leadership

the company evolved into a leading entity in the carbon capture domain. He

stated, "Valborg's leadership has been inspirational and impactful. Her

influence extends beyond Aker Carbon Capture to the broader CCUS industry. We

are grateful that she will continue to lend her expertise and insight to Aker

Carbon Capture. Her contributions have been invaluable, and we look forward to

her continued association with the company."

Lundegaard will serve as a senior advisor to Aker Carbon Capture going forward.

Lundegaard expressed gratitude for the support she received during her tenure,

"I would like to thank the Board, our shareholders, executive team, and

incredible, purpose-driven colleagues for their trust and support. It has been a

privilege to contribute to Aker Carbon Capture's journey, enabling countries and

corporations to achieve their climate ambitions." She also voiced her confidence

in her successor, "The time for large-scale deployment of CCS is now, and Egil's

industry knowledge, business acumen and financial skills are precisely what Aker

Carbon Capture needs to navigate the rapidly accelerating market for industrial

decarbonization. I wish him all the best as he takes over the helm of this

remarkable company."

"I am both honored and excited to take on the role of CEO at Aker Carbon

Capture. Our mission is of immense importance - we have the power to

significantly impact our planet's future through innovative carbon capture

solutions. I look forward to building on the exceptional groundwork laid by

Valborg and the team, accelerating our growth and leading Aker Carbon Capture

into a new chapter of industrial decarbonization," said Fagerland.

Since 2021, Fagerland has been instrumental in the development and expansion of

Aker Carbon Capture. He came to Aker Carbon Capture from DeepOcean, where he was

head of ERP and Business Systems. He previously held various roles in Aker

Solutions from 2012 till 2020, including as senior vice president, group

controlling and financial systems. He has over a decade of experience in

finance, project management, business systems and operational improvements from

the energy industry. Fagerland holds an MSc in Economics and Business

Administration from the Norwegian School of Economics (NHH).

With the transition of Fagerland to the CEO position, the company has initiated

a recruitment process to hire a new CFO. Petter Natås will serve as interim CFO.

Natås comes from the position of group chief controller at Aker Horizons.

ENDS

Media contact:

Marianne Stigset, mob: +47 411 88 482 (http://tel:+47 411 88 482), email:

marianne.stigset@akerhorizons.com

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),

Twitter (https://twitter.com/akercarbon),

Instagram (https://www.instagram.com/akercarboncapture/) and

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/).

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.