Aker Carbon Capture

Regulatory Filings • Mar 23, 2022

Aker Carbon Capture Collaborates with Microsoft for Scaling of the Carbon Capture Value Chain

Aker Carbon Capture Collaborates with Microsoft for Scaling of the Carbon Capture Value Chain

Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with

Microsoft to pursue joint innovation and explore opportunities to offer services

in the Carbon Capture, Utilization and Storage (CCUS) market.

CCUS is a critical solution to achieve the large carbon reductions and removals

needed for the world to reach net zero emissions. New and innovative business

models that cover both physical and digital value chains and enable companies to

move forward fast, are required. This is why Aker Carbon Capture and Microsoft

have agreed to explore ways of using the combined strength of the two companies'

technology expertise.

Aker Carbon Capture and Microsoft will demonstrate the full value chain of

carbon reduction and removal utilizing Aker Carbon Capture's proprietary CCUS

technology and Microsoft's digital capabilities to enable the ecosystem for the

voluntary carbon market, providing traceability and data - ensuring high-quality

carbon credits.

Accelerating Deployment of Carbon Capture

Aker Carbon Capture's purpose is to enable large-scale carbon reduction and

removal from industry around the world. With the introduction of Carbon Capture

as a Service, the barriers for emitters to act on their emissions are

significantly lowered. The company is determined to scale its solutions while

being aligned to the Paris Agreement. It aims to halve the carbon intensity of

its carbon capture solutions by 2030 and to be 'net negative' in the same

period.

"Collaboration is the key to success and a pre-requisite for reaching net zero.

By fully using the digital capabilities and domain expertise of our two

companies we can support industrial emitters to take action and accelerate the

deployment of carbon capture," said Valborg Lundegaard, Chief Executive Officer

of Aker Carbon Capture.

"The science is clear; we all need to reduce our emissions as much as possible

and remove carbon from the atmosphere in order for the world to reach net zero.

In Aker Carbon Capture we have a partner that supports this goal and together,

we aim to enable the industrial sector to move with pace and scale toward a net

zero future by leveraging the power of technology," says Darryl Willis, CVP of

Energy Industry at Microsoft.

The agreement was signed by Aker Carbon Capture CEO, Valborg Lundegaard and CVP

of Energy Industry at Microsoft, Darryl Willis. The parties have a shared goal

of accelerating the development of a functioning marketplace for CCUS and

believe that the combined technical expertise will allow to further strengthen

these efforts.

At the Forefront

Microsoft and Aker Carbon Capture have a history of successful collaboration,

including an MoU with Danish energy company Ørsted to explore opportunities to

deploy carbon capture at a bio energy plant in Denmark.

ENDS

Media contact:

Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:

ivar.simensen@akerhorizons.com

Investor contacts:

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

christian.yggeseth@akerhorizons.com

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/).