Norway's ACC to offer CO2 capture and storage service

Aker Carbon Capture ASA

12/07/2021 09:45

OSLO, July 12 (Reuters) - Norwegian company Aker Carbon
Capture (ACC)  ACCC.OL  said on Monday it would launch a service
offering the removal of carbon dioxide (CO2) from industrial
processes and its subsequent storage.
    The company, previously a division of oil services company
Aker Solutions  AKES.OL , said it saw increased interest from
potential customers as European Union carbon prices  CFI2Zc1 
nearly doubled over the last year.
    "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," ACC's
Chief Executive Valborg Lundegaard said.
    The company didn't say how much such a service could cost.
    The world needs to sharply scale up technology to capture
and utilise or store CO2 emissions from industrial processes to
meet global climate goals, the International Energy Agency (IEA)
has said. urn:newsml:reuters.com:*:nL2N2N50GJ
    Last year, ACC won a 1.7 billion Norwegian crown ($196.27
million) contract to build a large-scale CO2 capture plant to
remove 400,000 tonnes per year at Brevik cement plant in
Norway. urn:newsml:reuters.com:*:nFWN2J10YX
    The company is also looking at several other projects,
including at Elkem's  ELK.OL  ferrosilicon plant in Iceland, and
has developed modular CO2 capture plants that could be
transported by trucks. 
    By 2025, ACC aims to sign firm contracts for capturing 10
million tonnes of CO2 per year. 
    Its Oslo-listed shares were trading 4.6% higher by 0822 GMT.
     
($1 = 8.6614 Norwegian crowns)

 (Reporting by Nerijus Adomaitis; editing by Victoria Klesty;
Editing by Kirsten Donovan)
 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))