Aker Carbon Capture of Norway and Iceland’s Carbfix have established a partnership aimed at combining the companies’ complementary technologies to offer the full CCS value chain in the global fight against climate change.
The two Nordic industry front-runners have signed a Memorandum of Understanding to collaborate on cost-efficient carbon capture and storage solutions that will accelerate carbon removals.
“We are excited to establish a partnership with Aker Carbon Capture, thereby bringing together two market-leading climate solutions that can significantly contribute to the drastic emission reductions that are urgently needed globally,” said Edda Sif Pind Aradóttir, CEO of Carbfix. The Carbfix technology rapidly transforms CO2 injected into underground formations permanently into solid carbonate minerals by accelerating natural processes.
“Carbfix’s proven solution for CO2 storage is a perfect match for our HSE-friendly capture technology,” said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture. “Together, we can offer industrial emitters the whole CCS value chain, capturing CO2 and permanently storing it by turning it into stone underground.”
The agreement also covers opportunities for the two parties to evaluate strategic options on future storage projects and collaboration.
Geological formations that are suitable for the Carbfix method are among the most common rock types on Earth and can be found in every continent including vast formations in both Europe and North America. These formations unlock opportunities for permanent CO2 mineral storage on the gigaton-scale.
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 June 9, 2021 at CEST 13:00.