#carbon capture #Norway #Aker Carbon Capture #Fornebu #SLB Capturi

Aker Carbon Capture ASA: Strong Performance in Q4 2024

Aker Carbon Capture ASA (ACC ASA) has reported a robust performance for the fourth quarter of 2024, demonstrating significant financial strength and advancements in carbon capture technology.

Financial Overview

Earlier this month, the company announced that it ended Q4 2024 with a substantial cash reserve of NOK 4.6 billion and an equity position of NOK 5.5 billion. The net profit reported for the quarter stood at NOK 21 million. This stellar performance is a reflection of the company's commitment to leading the market in carbon capture solutions. In light of these results, the Board of Directors has proposed an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion. This move indicates ACC ASA's confidence in its future growth and profitability.

Technological Milestones

In a noteworthy development, the joint venture SLB Capturi, formed between Aker Carbon Capture and SLB, achieved a significant milestone by mechanically completing what is now recognized as the world’s first full-scale carbon capture facility at a cement plant. This facility is located at the Heidelberg Materials Brevik plant in Norway and is expected to enter the commissioning phase soon, aiming for operational commencement in 2025. This project marks a crucial step not only for ACC ASA but also for the global carbon capture industry, setting a precedent for future developments.

In addition, January 2025 marked another achievement for the joint venture as SLB Capturi, in collaboration with Aker Solutions, secured an engineering, procurement, construction, installation, and commissioning (EPCIC) contract from Hafslund Celsio AS. This contract is established to deliver a carbon capture solution at their waste-to-energy facility located in Klemetsrud, Oslo.

Moreover, SLB Capturi continued its progress by completing commissioning on its first modular carbon capture plant at Twence's waste-to-energy facility in Hengelo, Netherlands. This plant further demonstrates their ability to deliver innovative and effective carbon capture solutions across a variety of applications.

Expansion Plans

The current focus of SLB Capturi also extends across Europe, where they are engaged in some of the most significant carbon capture projects. A prominent example includes the Kalundborg site in Denmark, where SLB Capturi is deploying five Just Catch systems managed by Ørsted at two biomass-to-energy sites, with a combined capacity to capture an impressive 500,000 tonnes of CO2 annually. This initiative represents Denmark's first implementation of a full-scale carbon capture and storage (CCS) value chain, underscoring the ambitious environmental goals of the region.

Conclusion

As Aker Carbon Capture ASA continues to navigate its path as a leader in the carbon capture and storage space, its recent financial results and technological advancements signal a promising future. The integration of innovative solutions alongside strategic partnerships with SLB positions ACC ASA to not only capitalize on the growing demand for carbon capture technology but also contribute meaningfully to global sustainability efforts. The journey ahead will undoubtedly be closely monitored by stakeholders keen on the evolution of environmental technology in combating climate change.

For more information regarding Aker Carbon Capture's latest updates and initiatives, please visit their official website at www.akercarboncapture.com.