Aker Carbon Capture

Environmental & Social Information • Oct 19, 2021

Aker Carbon Capture Selected by Viridor as Partner for Accelerating Decarbonization at Multiple Waste to Energy Sites in the UK

Aker Carbon Capture Selected by Viridor as Partner for Accelerating Decarbonization at Multiple Waste to Energy Sites in the UK

Aker Carbon Capture and Viridor, one of the UK's leading recycling, resources

and waste management companies, today announced plans to help the UK accelerate

its decarbonization agenda through a partnership for next-generation modular

carbon capture, utilization and storage technology (CCUS).

Viridor has an ambition to become the first net zero waste company by 2040 by

bringing forward CCUS alongside plastics extraction and increased recycling. To

support the delivery of CCUS, Viridor unveiled plans that could unleash up to

£1bn private investment into the UK. The plans include exploring the

installation of modular CCUS plants on five Viridor waste-to-energy sites across

the UK. Viridor has partnered with pure-play CCUS specialist Aker Carbon Capture

for the delivery of five modular plants. This partnership with Aker Carbon

Capture could accelerate Viridor's net zero plans by a decade to 2030.

Aker Carbon Capture's Just CatchT modular carbon capture plant is based on the

company's proprietary and HSE-friendly carbon capture technology, which it has

developed over the past two decades.

The modular carbon capture plants will allow the technology to be deployed

within fifteen months of planning and permitting, reducing fossil emissions at

these sites by up to 90 percent. Developing the modular CCUS plants on the five

waste-to-energy sites combined with two planned bespoke CCUS plants, would

deliver about 1.5 million tonnes CO2 savings a year, meeting 15 percent of the

UK government's 2030 emissions reduction target. This investment would also

create around 1,000 construction jobs and up to 180 skilled green jobs in

Scotland, Wales and the English regions.

"We are delighted to partner with Viridor on projects that could realize major

emissions reductions in a hard to abate sector like waste-to-energy by 2030,"

said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture. "Our

modular carbon capture plants are designed for fast delivery and easy hook-up,

and together with our partners we see this as a great opportunity to contribute

to reaching climate goals and creating green jobs in the UK."

This announcement is the latest phase of Viridor's sector-leading

decarbonization plan. In May 2020 Viridor outlined a five-step action plan to

net zero emissions by 2040, and the ambition to be the first net negative

emissions waste and recycling company in the UK by 2045.

"Viridor stands ready to invest in developing world-leading carbon capture

technology," said Kevin Bradshaw, CEO of Viridor, which is majority owned by

investment company KKR. "This will support our company and sector to

decarbonize, as we have committed to do. But first of a kind technology projects

on this scale require genuine partnership between the public and private

sectors. Government policy support for waste management facilities to

participate in industrial carbon capture schemes will be vital for us to keep

progressing our plans."

The partners look forward to collaborating and maturing the opportunities in the

rapidly evolving market for CCUS in the UK.

"The UK has set out a globally leading ambition on CCUS and has the natural

resources to make this a reality, which was instrumental in attracting Aker

Carbon Capture to partner with Viridor in this market," said David Phillips,

Head of UK at Aker Carbon Capture.

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),

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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/).

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 October 19, 2021 at CET 08:30.