Regulatory Filings • Jun 21, 2022
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Aker Carbon Capture enters MoU with Storegga and strengthens foothold in UK market with new London office
Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Storegga
to collaborate on carbon capture and storage (CCS) projects and enable
industrial emitters access to full value chain offerings in the UK. The
agreement marks another UK milestone for the company, after becoming the carbon
capture provider for the Keadby 3 Carbon Capture Power Station last week.
"Strong partnerships that weave together specialist skill sets and experience
will be the key to unlocking the CCS market and getting projects at scale online
in short order," says Dr. Nick Cooper, CEO at Storegga. "This partnership will
benefit from Aker Carbon Capture's 20 years of experience in developing carbon
capture technologies with best-in-class HSE characteristics and Storegga's
heritage in establishing CO2 transport and storage in the UK and abroad."
Aker Carbon Capture is experiencing strong growth in the UK, where the
Government has set ambitious targets for the country to become a world leader in
CCS. To meet rising demand, the pure-play carbon capture company is establishing
an office in central London to serve the growing list of clients and partners.
The company is currently working on FEED studies for two major gas-to-power
plants equipped with carbon capture in the UK: SSE Thermal and Equinor's Keadby
3, and bp's Net Zero Teesside, each with an annual capture capacity of up to 1.5
-2 million tonnes CO2.
"Recent success shows that Aker Carbon Capture is cementing its position in the
UK CCUS market, which is why we have established an office in the heart of
London. We're excited to move into the premises of Sustainable Ventures, which
supports and offers offices to strictly climate tech and sustainability-focused
businesses. The time is now to start making a difference," says Aker Carbon
Capture's Head of UK David Phillips.
Decarbonizing British industry
In February 2022, Aker Carbon Capture started to support Redcar Energy Centre's
bid for Phase 2 of the Government's CCS cluster sequencing process, by studying
the implementation of Aker Carbon Capture's large-scale carbon capture
technology. The proposal will aim to store over 400,000 tonnes of CO2 a year.
Looking back to end 2021, Aker Carbon Capture and Viridor, one of the UK's
leading recycling, resources and waste management companies, signed a
partnership to explore the installation of five modular carbon capture plants.
This partnership could accelerate Viridor's net zero plans by a decade to 2030
and would deliver 1.5 million tonnes CO2 savings a year.
"When I look at this list of projects and initiatives, it's clear that we're all
set to help accelerate the decarbonization of British industry, contribute to
creating and safeguarding jobs, and strengthen energy security by working
together with large gas-to-power and waste-to-energy players. We're dedicated to
doing the right thing. Also in the UK, which is one of our key strategic regions
and one of the absolute CCUS frontrunners. The new carbon storage areas launched
last week are a clear testimony to that," concludes Valborg Lundegaard, CEO at
Aker Carbon Capture.
ENDS
Storegga Limited is an independent, UK-based decarbonisation development
business. It develops early stage carbon capture and storage, hydrogen, and
other subsurface renewable projects in the UK and internationally to contribute
to achieving net zero targets. The company employs approximately 80 people in
the UK, US and Singapore, with its head office in London.
Storegga is a private company backed by GIC, Mitsui & Co., Ltd., M&G
Investments, Macquarie Group and Snam.
Storegga is the lead developer of the Acorn Carbon Capture and Storage and
Hydrogen project in Aberdeen, Scotland. The Acorn Project will provide critical
backbone infrastructure for the Scottish Cluster. The Scottish Cluster unites
communities, industries and businesses to deliver CCS, hydrogen and other low
carbon technologies, supporting Scotland, the UK and Europe to meet net zero
goals.
Storegga:(https://www.storegga.earth/)
Media contact:
Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:
Yannick Vanderveeren, mob: +47 458 36 358 (http://tel:+47 458 36 358),
email: [email protected]
On behalf of Storegga: Dentons Global Advisers - Jennifer Walmsley, Fern Duncan,
Leah Dudley, +44 20 7664 5086 (http://tel:+44 20 7664 5086), email:
Investor contacts:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
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/).
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