REG - SigmaRoc PLC - SigmaRoc to install carbon capture facility

SigmarocAnnouncement

22/11/2022 07:00

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RNS Number : 1302H  SigmaRoc PLC  22 November 2022

22 November 2022

 

(EPIC: SRC / Market: AIM / Sector: Construction Materials)

 

SIGMAROC PLC

 ('SigmaRoc', the 'Group')

 

SigmaRoc to install carbon capture facility

 

SigmaRoc plc is pleased to announce that it will install its first carbon
capture facility in Q1 2023 with the aim to capture all kiln process emissions
by 2030, well ahead of its 2040 Net-Zero targets.

 

Highlights:

·      The Group has entered into an agreement with Aqualung Carbon
Capture AS ('Aqualung') a leading membrane carbon capture and separation
technology provider;

·      SigmaRoc and Aqualung will construct Europe's first industrial
scale facility of its type at Nordkalk in Q1 2023;

·      Each shipping container sized unit will be capable of capturing
up to 25% of one of Nordkalk's typical kiln's process emissions, using
Aqualung's simple and low energy intensive technology;

·    Once installed, a full roll-out plan will be finalised to equip all
operating Group kilns with the technology before 2030;

·      As a result, the Group can now commit to setting near-term
company-wide emission reductions in line with climate science with the SBTi.

 

Aqualung Partnership

SigmaRoc and Aqualung have signed an agreement that will allow for the
installation of a carbon capture membrane technology solution across all its
operational kilns following initial installation at one kiln. The technology
is modular, tested and scalable, allowing for a phased and systematic roll-out
across the Group's operations. In parallel, the parties will work on the
entire carbon chain that includes the capture, sequestration and alternative
uses or commercialisation of the captured CO(2.) The Group thereby estimates
that it will be able to significantly bring forward its Net-Zero targets once
full roll-out has commenced.

 

Technology

Lime kiln emissions are typically cleaner than other industrial applications
and are more suitable to carbon capture, especially with regards to footprint
and sizing. Aqualung's solution uses a compact patented membrane technology
which can be scaled by simply increasing the number of units to capture the
entirety of process emissions from any kilns. The technology allows for a
comparatively simple, low energy solution that mitigates the risks and
complexity associated with absorbents, their regeneration processes and
hazardous wastes. The technology is neither new nor untested giving both
parties the required assurances that it has a high chance of success when
applied across an entire kiln network.

 

Timeline

Construction will commence in Q1 2023 and the full unit will be pre-fabricated
and shipped on-site to Scandinavia with plug-and-play integration to the
plant. Commissioning and start-up are scheduled for April 2023. Once
operational the Group will finalise the wider roll-out plan which is estimated
to be completed by Q3 2023. Full Group roll-out can then be launched.

 

 

Video Interview

Watch Max Vermorken's interview for more information about this new carbon
capture facility:
https://www.brrmedia.co.uk/broadcasts-embed/636ba004aad758108bbd9181/event/?popup=true

 

SBTi

With this next step in its ESG strategy, SigmaRoc has also committed to
setting near-term company-wide emission reductions in line with the Science
Based Targets initiative (SBTi).

The SBTi is a global body enabling businesses to set ambitious emissions
reductions targets in line with the latest climate science. It is focused on
accelerating companies across the world to halve emissions before 2030 and
achieve net-zero emissions before 2050.

 

Max Vermorken, CEO of SigmaRoc, commented:

"Our partnership with Aqualung is an exciting next step for the Group and the
fruit of many months of diligent work by Aqualung, and our technical teams in
the UK and at Nordkalk.  It demonstrates that capturing all process emissions
is possible, with existing technology and at industrial scale. Once we roll
this out across the Group, I believe we will be industry leading when it comes
to our Carbon Capture strategy, demonstrating again the agility of our
business and our business model."

Charles Trigg, CTO of SigmaRoc, commented:

"As a Group we are always on the lookout for interesting technologies that can
help us advance our business and our operations. Aqualung is clearly that type
of technology. Partnering with them to potentially decarbonise our operations
well ahead of not just our timeline but probably the entire industry, is very
exciting and the result of intense work across the Group, in particular at
Nordkalk."

 

For more information about SigmaRoc please visit: www.sigmaroc.com
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.sigmaroc.com%2F&data=05%7C01%7Cexf%40sigmaroc.com%7Ca5c877975bfd40a53b2e08da93ec7337%7C6d82d0a5f1e4462aa6ce4bf6319e2ddc%7C0%7C0%7C637984940991546078%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=GTY%2FLeasHBNJTmcx7eg9B1EPAeU3T0pSvK60p6xVbsE%3D&reserved=0)

 

 

Henrik Utvik, President & CTO of Aqualung, commented:

"Aqualung Carbon Capture are extremely pleased to partner with a pioneering
company like SigmaRoc to apply our decarbonisation concept in lime production.
Due to the size and energy advantages, we believe our technology is ideally
suited for this application, and the collaboration with SigmaRoc will fast
track the deployment of full-scale carbon capture installations."

 

For more information about Aqualung please visit: https://aqualung-cc.com/
(https://aqualung-cc.com/)

 

 

 

 SigmaRoc plc                                       Tel: +44 (0) 207 002 1080

 Max Vermorken

 Liberum Capital (Co-Broker and Nominated Adviser)  Tel: +44 (0) 203 100 2000

 Neil Patel / Jamie Richards / Ben Cryer

 Peel Hunt (Co-Broker)                              Tel: +44 (0) 20 7418 8900

 Mike Bell / Ed Allsopp

 Investor Relations                                 Tel: +44 (0) 207 002 1080

 Dean Masefield / Elisa Frenay                      ir@sigmaroc.com

 

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