Aker Carbon Capture

Regulatory Filings • Jan 31, 2022

Aker Carbon Capture, Altera Infrastructure and Höegh LNG to collaborate on full value-chain offerings for carbon capture and storage

Aker Carbon Capture, Altera Infrastructure and Höegh LNG to collaborate on full value-chain offerings for carbon capture and storage

Aker Carbon Capture, Altera Infrastructure and Höegh LNG have entered a non

-exclusive collaboration to explore a full value chain offering for carbon

capture, utilization, and storage (CCUS).

"Strategic partnerships with providers of CO2 processing, transport and storage

capabilities help to optimize the value chain to fast-track the deployment of

carbon capture utilization and storage. We are pleased to collaborate with

Altera Infrastructure and Höegh LNG with their maritime infrastructure expertise

in our efforts to accelerate the CCUS market," said Jon Christopher Knudsen,

Chief Commercial Officer of Aker Carbon Capture.

The parties will collaborate on offering Carbon Capture as a Service to

industrial emitters, enabling cost-effective implementation of the full value

chain needed to realize carbon capture, utilization, and storage projects for

industrial emitters.

Altera Infrastructure and Höegh LNG are global maritime and infrastructure

companies, providing services in the CCUS value chain including gaseous and

liquid CO2 gathering, purification, liquification, transportation and permanent

underground storage of CO2. Their Stella Maris CCS project covers large-scale

transport with shuttling of CO2 to an offshore site for injection and permanent

storage in a relevant subsea reservoir.

Ingvild Sæther, Group CEO of Altera said: "large scale maritime CCS is seen as a

cornerstone in Altera's future business and a concept we have been working on

for more than a decade, more recently with our partner, Höegh LNG. We believe

delivery of CCUS will be required to achieve a meaningful contribution to net

zero and we are delighted to be collaborating with Aker Carbon Capture as a

leader in carbon capture technology."

The collaboration is non-exclusive, allowing the parties to offer a full value

chain offering at locations where the combined technical concept of Aker Carbon

Capture's technology and the processing and shipping capabilities of Altera

Infrastructure and Höegh LNG is best suited, whilst leaving the parties with

flexibility to work with alternative solutions elsewhere.

"These collaborations represent key building blocks in our Carbon Capture as a

Service; Carbon Capture Made EasyTM offering, enabling source-to-storage

decarbonization at a pay per tonne captured CO2 model," said Knudsen.

Höegh LNG operates world-wide in a leading position as owner and operator of

floating LNG import terminals, FSRUs (Floating Storage and Regasification

Units). Höegh LNG is also one of the most experienced operators of LNG Carriers

(LNGCs). We always seek excellence in our operations in order to maximize value

for our clients, minimize impact on the environment and ensure welfare of our

employees. Thereby creating value for the group. Our vision is enabling the

transition to clean energy and the strategy is to drive and embrace

technological and commercial innovation.

Altera Infrastructure is a leading global energy infrastructure services group

primarily focused on the ownership and operation of critical infrastructure

assets in offshore oil regions of the North Sea, Brazil and the East Coast of

Canada. Altera Infrastructure's current fleet is comprised of FPSOs, shuttle

tankers, towing vessels and a unit for maintenance and safety. Through teamwork

and innovation, we are shaping the infrastructure of offshore energy, leading

the industry to a sustainable future.

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/).