Aker Carbon Capture

Environmental & Social Information • Jul 9, 2021

Aker Carbon Capture and Carbfix to Explore CCS at Elkem Iceland's Grundartangi Plant

Aker Carbon Capture and Carbfix to Explore CCS at Elkem Iceland's Grundartangi Plant

Norway's Aker Carbon Capture has joined forces with Carbfix and Elkem Iceland in

the groundbreaking work of reducing CO2 emissions of Elkem Iceland's

ferrosilicon plant through carbon capture and mineral storage in basalt

structures.

The three companies have signed a Memorandum of Understanding that builds on a

Letter of Intent between Elkem Iceland and Carbfix from earlier this year.

"We are excited to further strengthening our partnership with Aker Carbon

Capture by introducing their CO2 capture technology into the scope of the

planned CO2 mineral storage at Elkem's ferrosilicon plant in Iceland,"  says

Edda Sif Pind Aradóttir, Carbfix's CEO. The two Nordic industry front-runners

signed a Memorandum of Understanding in July establishing a partnership to

offers industrial emitters complete and permanent CO2 capture and mineral

transformation - or full value chain CCS.

Nordic collaboration across borders

Aker Carbon Capture is an industry leader in carbon capture and has delivered a

separate feasibility study for the establishment of carbon capture at Elkem's

Norwegian smelters to support the company's long-term goal of achieving carbon

-neutral metal production. In 2020, Elkem was rated "Gold" on sustainability by

EcoVadis and "A" on climate by CDP.

"By applying Aker Carbon Capture's HSE-friendly solutions with Carbfix' proven

solution for CO2 storage, companies like Elkem can reduce CO2 emissions in a

cost-effective manner," said Valborg Lundegaard, CEO of Aker Carbon Capture.

"Elkem is among the global leaders in the environmentally responsible

manufacture of advanced materials. For us, it is important to continuously

investigate all opportunities for further reducing our emissions. We look

forward to evaluating the feasibility of CCS in Norway and in Iceland," says

Trond Sæterstad, climate director in Elkem.

The core product at Elkem Iceland is ferrosilicon, which is one of the

elementary raw materials for the steel industry. FeSi is either used for

refining of steel or as an ingredient to reach predetermined qualities. Today

Elkem Iceland is the second largest ferrosilicon plant in the world, with an

annual capacity of 120.000 tonnes.

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 9, 2021 at CEST 13:00.