Regulatory Filings • Mar 31, 2022
Regulatory Filings
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Aker Carbon Capture and SINTEF Expand Collaboration to Develop Next-Generation CCUS Technology
Oslo, 30 March 2022: Aker Carbon Capture and SINTEF have entered into a
strategic collaboration agreement, with the goal of further developing carbon
capture utilization and storage (CCUS) technology to reduce CO2 emissions from
industry and energy solutions. This is a vital part of the green transition in
Norway.
"Aker and SINTEF have collaborated for more than 25 years, and have been
pioneers of CCUS, which represents a vital solution for our ability to reach net
-zero emissions. With this agreement, we accelerate the transfer of science and
research to innovation in the market," said Alexandra Bech Gjørv, CEO of SINTEF.
"Establishing the right partnerships is a critical component of our strategy and
we are pleased to further strengthen our collaboration with SINTEF to develop
new innovative solutions to curb CO2 emissions," said Valborg Lundegaard, CEO of
Aker Carbon Capture.
CCUS - an indispensable tool
CCUS refers to a series of technologies for capturing CO2 and utilizing or
storing it safely deep underground. Both the International Energy Agency (IEA)
and United Nations (IPCC) consider CCUS to be crucial for reducing CO2 emissions
and limiting global warming to under 1.5?C.
"CCUS is an indispensable tool for achieving global climate goals. As a
technology, it has risen from nice to have to need to have," said Nils Røkke,
EVP Sustainability at SINTEF.
A strategic interaction to establish more CCUS projects
The agreement represents a strategic interaction on a non-exclusive basis, with
the goal to speed up and make available CCUS more widespread. There will be
actions to establish more CCUS projects, particularly in the field of CO2
capture.
Through the collaboration, the parties will explore opportunities to develop new
capture technologies, share knowledge, and collaborate more closely to generate
and follow-up on new ideas.
Establishing a common framework for collaboration will remove barriers and
bureaucracy, thereby enabling SINTEF and Aker Carbon Capture to collaborate
quickly and efficiently.
A valuable long-term partnership
Aker Carbon Capture and SINTEF have a long history of collaboration. SINTEF has
worked with Aker companies for over 25 years in the field of this specific
climate technology, which demonstrates the value of long-term partnerships.
Most notably, the parties developed a solvent-based capture technology together
with the Norwegian University of Science and Technology (NTNU) as part of the
eight-year SOLVit program. Aker Carbon Capture is today a leading provider of a
proprietary, amine-based carbon capture technology, which is being deployed in
the Norwegian full-scale CCUS project, Langskip (Longship).
"A partnership with SINTEF and access to their significant testing
infrastructure and knowledge of CCUS and enabling technologies, will not only
allow Aker Carbon Capture to continue to improve our existing technology
portfolio, but also enable us to collaboratively identify the next generation
CCUS technology and bring it to the market. Through a strategic collaboration we
can challenge each other to accelerate the development of new solutions," said
Jim Stian Olsen, Chief Technology Officer of Aker Carbon Capture.
Through the Norwegian CCS Research Centre (NCCS), SINTEF and its partners have
contributed both knowledge and research to Langskip.
"To meet the goals of the Paris Agreement and Norwegian climate ambitions, we
need to continue the joint efforts to cut costs, reduce risk, and scale up CCS
technologies. Research, development, and innovation efforts done in cooperation
between universities, research institutions, and industry actors like Aker
Carbon Capture are essential," said NCCS Director Mona Mølnvik.
About Aker Carbon Capture and SINTEF
Aker Carbon Capture is a pure-play carbon capture company with solutions,
services and technologies that serve a range of industries with carbon
emissions, including the cement, bio- and waste-to-energy, gas-to-power, and
blue hydrogen segments. Aker and Aker Carbon Capture have worked with CCUS for
two decades, and its proprietary carbon-capture technology offers a unique,
environmentally friendly solution for removing CO2 emissions.
SINTEF is one of Europe's largest independent research organisations with
international top-level expertise in the fields of technology, natural science,
medicine and social science. SINTEF develops sustainable solutions to some of
society's grand challenges, and creates value and innovation by generating
knowledge and developing technical solutions with practical applications. SINTEF
has conducted research on CCUS since its inception in the 1980s.
SINTEF media contact:
Anne Steenstrup-Duch, [email protected]
Aker Carbon Capture media contact:
Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:
Aker Carbon Capture investor contacts:
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), 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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