Aker Carbon Capture

Earnings Release • Jul 12, 2021

Aker Carbon Capture ASA: second-quarter results 2021

Aker Carbon Capture ASA: second-quarter results 2021

Aker Carbon Capture made progress in new and existing projects in the second

quarter, as the pure-play carbon capture specialist continued to expand

internationally.

"With ETS quota prices nearly doubling the last twelve months, the number of

industrial emitters approaching Aker Carbon Capture for our CCS solutions

continues to rise," said Valborg Lundegaard, Chief Executive Officer of Aker

Carbon Capture.

Aker Carbon Capture today separately announced the launch of Carbon Capture as a

Service; Carbon capture made easyT, an integrated offering that covers

everything a customer needs to reduce emissions by CCS. As part of the service,

Aker Carbon Capture will deliver and operate the carbon capture facilities, and

transport and storage will be embedded in the service through strategic

partnerships.

"With our offering, customers will simply pay per tonne captured CO2. We will

handle the CO2 throughout the full value chain - from point of emission to

permanent storage," said Lundegaard.

Q2 Highlights

Highlights in the second quarter included progress made in the Brevik CCS

project and securing agreements with new customers in the company's targeted

regions and industries.

The Brevik CCS project to deliver the world's first industrial-scale carbon

capture plant at a cement factory progressed according to plan in the quarter,

with key milestones achieved.

The company secured several strategic studies in the quarter, including an

agreement with BIR to explore carbon capture at the largest CO2 emitter in

Bergen, Norway. The waste to energy company's plant is located only 60 km from

the Northern Lights terminal. ACC also secured a feasibility study to explore

implementation of carbon capture at one of Viridor's largest plants in the UK.

After the quarter ended, Aker Carbon Capture and Iceland's Carbfix have

established a partnership aimed at combining the companies' complementary

technologies to offer the full CCS value chain in the global fight against

climate change. Together with Carbfix, Aker Carbon Capture will explore CCS at

Elkem Iceland's ferrosilicon plant. The three companies have signed an MoU for

the ground-breaking work of reducing the CO2 emissions of Elkem's plant through

carbon capture and Carbfix's unique on-site mineral storage in basalt

structures.

The company continued to expand internationally, with the first offices

established in Denmark and UK to position the company for ongoing CCS projects.

During the quarter, shares in Aker Carbon Capture started trading on Oslo Børs'

main list, moving from Euronext Growth, and the company started trading on OTCQX

in the US, making the pure-play carbon capture stock eligible for trading by a

wider pool of investors. OTCQX is a top tier marketplace for the over-the

-counter (OTC) trading of stocks. The OTCQX is provided and operated by the OTC

Markets Group.

Financial result and outlook

Revenue for the quarter was NOK 69 million and EBITDA (Earnings before interest,

tax, depreciation and amortisation) was negative NOK 47 million. The cash

balance at the end of the quarter was NOK 552 million.

Aker Carbon Capture aims to take a leading position in the global CCS industry,

and the company last year launched a long-term goal of '10 by 25', which states

that the company will have secured firm contracts for carbon capture plants for

a total of 10 million tonnes per year by the end of 2025.

The company today also published its first-half report, which is attached and

available on akercarboncapture.com.

ENDS

Media contact:

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

ivar.simensen@akerhorizons.com

Investor contact:

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

christian.yggeseth@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 July 12, 2021 at CEST 07:00.