Aker Horizons — Capital/Financing Update 2025

Jan 27, 2025

Aker Carbon Capture ASA announces that SLB Capturi and Aker Solutions win contract to deliver carbon capture solution for Hafslund Celsio

Aker Carbon Capture ASA announces that SLB Capturi and Aker Solutions win contract to deliver carbon capture solution for Hafslund Celsio

Aker Carbon Capture (ACC ASA), an Aker Horizons portfolio company, today

announced that SLB Capturi, in collaboration with Aker Solutions, has been

awarded an engineering, procurement, construction, installation and

commissioning (EPCIC) contract from Hafslund Celsio AS to deliver a carbon

capture solution at their waste-to-energy facility at Klemetsrud, Oslo.

Hafslund Celsio is Norway's largest district heating supplier and the owner and

operator of Norway's largest waste-to-energy plant. Hafslund Celsio's carbon

capture project is part of Longship, the Norwegian Government's full value-chain

carbon capture and storage project.

The contract award includes delivery of a carbon capture plant, liquefaction

system, temporary storage, and loading facility at the waste incineration site.

It also includes an intermediate CO2 storage and ship loading system at Oslo

harbor, from where the CO2 will be transported to the Northern Lights permanent

storage facility on the Norwegian continental shelf. When operational, which is

anticipated by third quarter, 2029, the carbon capture plant is expected to

capture 350,000 metric tons of CO2 annually.

The EPCIC award follows a cost reduction phase for Hafslund Celsio's project,

which identified opportunities for efficiencies, including layout

optimization. Innovative capture technology design enables the project to move

forward. The project will now be delivered based on SLB Capturi's modularized

Just Catch 400 unit. The space-efficient Just Catch design has been fundamental

to enabling a viable, cost-effective solution by reducing onsite footprint,

installation, and outfitting work.

ENDS

For further information, please contact:

Jonas Gamre, Investor Relations, Tel: +47 97 11 82 92,

jonas.gamre@akerhorizons.com

Mats Ektvedt, Media, Tel: +47 41 42 33 28,

mats.ektvedt@corporatecommunications.no

About Aker Horizons:

Aker Horizons develops green energy and green industry to accelerate the

transition to Net Zero. The company is active in renewable energy, carbon

capture and sustainable industrial assets. As part of the Aker group, Aker

Horizons applies industrial, technological and capital markets expertise with a

planet-positive purpose to drive decarbonization globally. Aker Horizons is

listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across

its portfolio, the company is present on five continents.

www.akerhorizons.com

About Aker Carbon Capture

Aker Carbon Capture ASA was established as a separate entity in 2020, building

on more than 20 years long experience and maturation of the carbon capture

technology within Aker. Following an agreement with SLB, a joint venture

betweenSLB and Aker Carbon Capture was established in June 2024. The JV, SLB

Capturi, is headquartered in Oslo, with SLB owning 80% and Aker Carbon Capture

ASA owning 20%, two strong companies with proven track record of building

successful industrial businesses positioned for substantial growth.