Aker Carbon Capture

Regulatory Filings • Mar 23, 2021

Aker Carbon Capture and Siemens Energy join forces on sustainable power generation

Aker Carbon Capture and Siemens Energy join forces on sustainable power generation

Aker Carbon Capture (ACC) and Siemens Energy have signed a memorandum of

understanding aimed at developing combined offerings for carbon capture

solutions that can be applied to gas turbines and gas-fired power plants.

The parties will explore a technology collaboration to further advance technical

optimization within the whole process of power generation and carbon capture

combining ACC's HSE-friendly capture technology with Siemens Energy's market

leading portfolio of offerings in the energy sector. ACC and Siemens Energy will

also explore ways to jointly fast-track development of major projects globally.

The global collaboration will initially focus on the European market for new and

existing low-carbon power generation where a combination of new turbines and

carbon capture and storage (CCS) can provide sustainable solutions fit for the

21st century.

"The drive towards net zero carbon emissions is gaining speed throughout the

energy industry," said Karim Amin, Executive Vice President for Power Generation

at Siemens Energy. "We are pleased to cooperate with Aker Carbon Capture

providing our customers with highly efficient gas turbines equipped with highly

efficient carbon capture solutions to support their decarbonization journeys."

"The speed of the energy transition should be accelerated further, and

industrial partnerships are needed to power the transformation," says Chief

Executive Officer of Aker Carbon Capture, Valborg Lundegaard. "I personally

believe that a collaboration between Aker Carbon Capture and Siemens Energy can

create significant momentum in the market."

Gas-fired power plants contributed 23 percent of global power generation in

2019, according to the International Energy Agency. In Europe, gas use in power

generation increased by around 4 percent as countries switched from coal to gas,

thereby reducing emissions levels. Applying carbon capture to gas-fired power

plants limits the emissions entering the atmosphere and, in many regions,

further supports the case for gas power as part of a sustainable energy mix.

"An aligned product portfolio of low carbon power solutions for industry and

energy production with carbon capture, is a very strong offering," says Chief

Commercial Officer in Aker Carbon Capture, Jon Christopher Knudsen. "Combining

more than 20 years of history in developing carbon capture solutions with

Siemens Energy's decades of industry leadership in power solutions, will bring

valuable benefits for our clients and society."

ENDS

Media Relations:

Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@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),

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/)

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 March 23, 2021 at CET 09:00.