Aker Carbon Capture

Environmental & Social Information • May 15, 2023

Aker Carbon Capture to deliver five Just Catch units and equipment for over EUR 200 million to Ørsted bioenergy plants in Denmark

Aker Carbon Capture to deliver five Just Catch units and equipment for over EUR 200 million to Ørsted bioenergy plants in Denmark

Aker Carbon Capture has been awarded a large-scale carbon capture project by

Ørsted, a global leader in renewable energy, for its Ørsted Kalundborg Hub in

Denmark. As the carbon capture provider, Aker Carbon Capture will deliver five

Just Catch units, additional equipment such as liquefaction systems, and

temporary CO2 storage and on-/offloading facilities with an expected total

contract value above EUR 200 million. The carbon capture facilities will be

delivered to Ørsted's wood chip-fired Asnæs Power Station and the Avedøre Power

Station's straw-fired boiler and combined will have an installed design capture

capacity of 500,000 tonnes CO2 per year.

This follows the 20-year contract award to Ørsted by the Danish Energy Agency

(DEA) for its carbon capture and storage (CCS) project. The funding will enable

the realization of the first full-scale carbon capture and storage value chain

in Denmark, delivered by Ørsted, Aker Carbon Capture, Microsoft and Northern

Lights.

"We are proud of our partnership with Ørsted and see this project as a milestone

for our Just Catch standardized concept, a modular and configurable offering

that enables time-efficient deployment of carbon capture units to the mid-scale

emitter market. We look forward to working with Ørsted and contributing to their

decarbonization journey and to Denmark's CCUS ambitions," said Valborg

Lundegaard, Aker Carbon Capture's Chief Executive Officer.

"Capture and storage of biogenic CO2 is an important tool to mitigate climate

change, and we look forward to initiating the work. We have established a strong

partnership which will secure that we comply with the tight timeline set in the

Danish tender, and at the beginning of 2026, two of our combined heat and power

plants will capture and store approx. 430,000 tonnes of biogenic CO2 every

year," said Ole Thomsen, Senior Vice President and Head of Ørsted's Bioenergy

business.

"The signing of this contract represents the beginning of a groundbreaking CCUS

project covering the entire value chain. This collaboration brings together key

stakeholders, including government bodies, technology providers, industry

leaders, and carbon credit buyers, with the aim of scaling up CCUS deployment

and achieving net-zero emissions in hard-to-abate industries. Aker Carbon

Capture's standardized solutions, including Just Catch, and strategic

partnerships with industry leaders such as Ørsted and Microsoft, will create

significant growth opportunities in the future," said Kristian M. Røkke, Aker

Carbon Capture's Chairperson.

The collaboration established in 2021 between Aker Carbon Capture, Ørsted and

Microsoft is now bringing concrete climate action through biogenic carbon

capture and storage, delivering large-scale carbon removal.

Ørsted is a global energy major and a leading provider of sustainable bioenergy

solutions in Denmark. The company aims to be carbon neutral by 2025. Earlier

this year, Ørsted and Aker Carbon Capture signed a Letter of Intent for the

delivery of two Just Catch units, which will form part of the Ørsted Kalundborg

Hub (see Aker Carbon Capture's announcement on 3 January 2023).

In this landmark project, Microsoft will purchase several million tonnes of high

-quality, durable carbon removal over more than ten years from the capture and

storage of biogenic carbon from Ørsted's project. This represents one of the

world's largest carbon removal offtake agreements by volume to date.

The project is subject to signing of the funding contract by Ørsted and the DEA,

which completes the funding tender procedure. Such signing is expected to take

place shortly after expiry of the mandatory standstill period.

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

Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:

christian.yggeseth@akerhorizons.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 considered to be inside information pursuant to the EU

Market Abuse Regulation, and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Katja Aanestad, Marketing

Communications, Aker Carbon Capture on 15 May 2023 at CEST 10:08.