Aker Carbon Capture

Environmental & Social Information • Mar 30, 2023

Aker Carbon Capture welcomes UK Government CCUS Track 1 project negotiation list

Aker Carbon Capture welcomes UK Government CCUS Track 1 project negotiation list

The UK Government has selected bp's Net Zero Teesside Power and Viridor's

Runcorn CCS as successful bidders in Phase 2 of the Track 1 CCUS Cluster

Sequencing Process. This is part of the UK Government's funding commitment to

achieve a net-zero economy. Both projects now proceed to final negotiations for

governmental support.

Aker Carbon Capture is the carbon capture provider for a FEED to bp's mega-scale

gas-to-power project with carbon capture. A consortium of Aker Solutions,

Siemens Energy and Altrad Babcock is currently delivering an overall FEED for

this project, which has a design capture capacity of up to 2 million tonnes CO2

per year. And together with Viridor, the UK's largest waste-to-energy company,

Aker Carbon Capture is delivering a pre-FEED study for the Runcorn CCS project

which aims to capture around 1 million tonnes CO2 per year. These major projects

further support Aker Carbon Capture's leading position in the fast-growing

carbon capture market in the UK and Europe.

"Congratulations to bp and Viridor. This is an important day for CCUS in the UK.

We are thrilled that these flagship projects have been selected as part of the

UK Government's commitment to clean power generation and decarbonization. This

will significantly advance the UK's decarbonization targets and will strengthen

energy security," said David Phillips, Head of UK and Investor Relations at Aker

Carbon Capture.

These announcements build on the £20 billion CCUS funding which was confirmed

earlier this month in the Treasury's Spring Budget. To achieve the UK

Government's ambition of capturing 20-30 million tonnes of carbon dioxide by

2030, more CCUS projects will need to come online. The UK government will launch

a process later this year to enable further expansion of the Track-1 clusters,

beyond the initial deployment, identifying and selecting projects for HyNet and

East Coast Cluster - including the Humber - and their associated storage

facilities as they become viable, to be operational by 2030. This wider

deployment of CCUS will help the UK achieve its decarbonization targets, create

jobs and bolster energy security.

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),

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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/).