Regulatory Filings • Sep 8, 2021
Regulatory Filings
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Carbonor and Aker Carbon Capture will Collaborate to Produce Low-Emission Char with Carbon Capture as a Service
Carbonor and Aker Carbon Capture have signed a Memorandum of Understanding (MoU)
to jointly develop Carbonor's planned low CO2 char production in Øygarden in
western Norway. The project will utilize Aker Carbon Capture's Just Catch 100
technology integrated with Carbonor's pyrolysis technology to produce low
-emission, high-carbon reductants for the alloy industry.
The project could become the first in which carbon capture and storage is sold
as a service, where the emitter pays a fee based on the volume of carbon
captured.
"We are excited to take another step towards our goal of producing low CO2 char
while creating sustainable jobs in the new CCS industry in Norway. Our goal is
to commission Carbonor's new char operations in time for the opening of the
Norwegian Longship CCS project with the Northern Lights terminal at Øygarden in
May 2024," says Helene Morne, CEO of Carbonor. "We look forward to benefiting
from ACC's HSE-friendly, compact carbon capture solutions and innovative
business models in this project."
As part of the project, Carbonor and Aker Carbon Capture will establish the full
CCS value chain from capture to storage, utilizing leading technology, as well
as innovative business models. The companies are already collaborating on CCS
solutions for char production. Aker Carbon Capture's mobile test unit is
currently at Carbonor's site in Poland, testing ACC's proprietary technology for
CO2 capture.
"Bringing our capture technology and business model innovation into the
partnership with Carbonor is a great opportunity to advance the application of
CCS into new market segments," said Valborg Lundegaard, Chief Executive Officer
of Aker Carbon Capture. The agreement with Carbonor follows Aker Carbon
Capture's recent launch of Carbon Capture as a Service, a truly flexible
business model where the full value chain can be delivered within the price of
the European CO2 quota system (ETS) or similar relevant reference point.
"Working with Carbonor will help us accelerate the CCS market," said Jon
Christopher Knudsen, Chief Commercial Officer of Aker Carbon Capture. "A
flexible as-a-service offering that unlocks mid-scale emitters across northern
Europe, is key to complement the large first of a kind projects that are now
underway," said Knudsen, referring to projects, such as the Brevik CCS project,
in which Aker Carbon Capture is delivering its large Big Catch technology
capturing 400,000 tonnes of CO2 per year at the Norcem Heidelberg Cement plant
in Norway.
"Sustainably produced, low CO2 char will be an important enabler of
decarbonization for the alloy industries and Carbonor will play a vital role in
the drive to reduce CO2 emissions in the Norwegian process industry," said Tor
Morne, Head of Investor Relations at Carbonor.
The Just Catch 100 is Aker Carbon Capture's modular and compact carbon capture
unit with annual capture capacity of 100,000 tonnes CO2. The Memorandum of
Understanding (MoU) covers the development of the Øygarden opportunity and has a
validity of four years.
ENDS
Contact details:
Carbonor
Martin Ellis, Chairman, tel: +1 440-715-5334,
[email protected] ([email protected] )
Helene Mørne, CEO, tel +47 971 61 353, [email protected]
Aker Carbon Capture
Ivar Simensen, Communication, mob: +47 464 02 317 (http://tel:+47 464 02 317),
email: [email protected]
Christian Yggeseth, Investor Relations, mob: +47 915 10 000 (http://tel:+47 915
10 000), email: [email protected]
David Phillips, Investor Relations, mob: +44 7710 568279 (http://tel:+44 7710
568279), email: [email protected]
About Carbonor
Carbonor is developing a project to be a leading manufacturer of sustainable,
low CO2, engineered carbon for the silicon and alloy industries. The company
will produce a high-carbon reductant with integrated carbon capture as a service
to be provided by Aker Carbon Capture. Carbonor will reduce its GHG emissions
by over 90% using carbon capture and storage. Liquified CO2 will be
sequestered at Northern Lights carbon storage facility. Developed over the last
30 years, our engineered carbon reduces our customer's GHG significantly
compared to using coal or wood as a source of carbon. Carbonor's energy by
-product will be used for carbon capture, electricity production, and as an
energy source for local businesses.
The market for sustainable, low CO2 carbon will grow with increasingly stricter
environmental regulations and Carbonor is focussed on being the leading supplier
of low CO2 reductants to the process industry.
About Aker Carbon Capture
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 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Katja Aanestad, Marketing
Specialist at Aker Carbon Capture, on September 8, 2021 at 08:00 CET.
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