Norway’s Aker Carbon Capture has joined forces with Carbfix and Elkem Iceland in the groundbreaking work of reducing CO2 emissions of Elkem Iceland‘s ferrosilicon plant through carbon capture and mineral storage in basalt structures.
The three companies have signed a Memorandum of Understanding that builds on a Letter of Intent between Elkem Iceland and Carbfix from earlier this year.
“We are excited to further strengthening our partnership with Aker Carbon Capture by introducing their CO2 capture technology into the scope of the planned CO2 mineral storage at Elkem’s ferrosilicon plant in Iceland,“ says Edda Sif Pind Aradóttir, Carbfix‘s CEO. The two Nordic industry front-runners signed a Memorandum of Understanding in July establishing a partnership to offers industrial emitters complete and permanent CO2 capture and mineral transformation – or full value chain CCS.
Nordic collaboration across borders
Aker Carbon Capture is an industry leader in carbon capture and has delivered a separate feasibility study for the establishment of carbon capture at Elkem‘s Norwegian smelters to support the company’s long-term goal of achieving carbon-neutral metal production. In 2020, Elkem was rated “Gold” on sustainability by EcoVadis and “A” on climate by CDP.
“By applying Aker Carbon Capture’s HSE-friendly solutions with Carbfix’ proven solution for CO2 storage, companies like Elkem can reduce CO2 emissions in a cost-effective manner,” said Valborg Lundegaard, CEO of Aker Carbon Capture.
“Elkem is among the global leaders in the environmentally responsible manufacture of advanced materials. For us, it is important to continuously investigate all opportunities for further reducing our emissions. We look forward to evaluating the feasibility of CCS in Norway and in Iceland,” says Trond Sæterstad, climate director in Elkem.
The core product at Elkem Iceland is ferrosilicon, which is one of the elementary raw materials for the steel industry. FeSi is either used for refining of steel or as an ingredient to reach predetermined qualities. Today Elkem Iceland is the second largest ferrosilicon plant in the world, with an annual capacity of 120.000 tonnes.
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 CO2 emissions.
Visit akercarboncapture.com and connect with us on LinkedIn, Facebook, Twitter, Instagram and YouTube. This press release may include forward-looking information or statements and is subject to our disclaimer, see 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 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Katja Aanestad, Marketing Communications, Aker Carbon Capture on July 9, 2021 at CEST 13:00.