Public trading carbon capture companies3/24/2024 ![]() ![]() ![]() ![]() Overall, Aker Carbon Capture has accumulated a pipeline covering approximately 40 million tonnes of CO2 capture per year across all categories of contracted work.Īfter the quarter end, Aker Carbon Capture signed a Memorandum of Understanding with MAN Energy Solutions to jointly pursue opportunities related to CCUS and CO2 compression in the North American market. All these studies are based on the company’s Just Catch offering. The company was awarded studies in Germany, Switzerland, and Finland and a feasibility study to develop a joint power-to fuel-solution together with MAN Energy Solutions. For its bespoke Big Catch offering, the company was awarded a pre-FEED by a major European power company covering several electricity generation facilities in Europe with a capture potential of up to 14 million tonnes of CO2. If Uniper selects Aker Carbon Capture as technology licensor at the end of the PDP process, the next step will be to move to the front-end engineering and design phase ahead of a FID, which is expected to be taken by Uniper in the mid-2020s.Īker Carbon Capture also made strong progress in securing studies and pre-FEED work across Europe in the fourth quarter. Uniper’s Grain Carbon Capture project is a proposal to retrofit post combustion carbon capture technology on up to three of the existing Combined Cycle Gas Turbine (CCGT) units at the site, with the potential to capture over 2 million tonnes of CO2 per year. In the same month, Uniper awarded Aker Carbon Capture a Process Design Package (PDP) to deliver design studies for a proposed post combustion carbon capture plant at their Grain power station in the Southeast of England. Celsio is targeting a Final Investment Decision (FID) in the summer of 2024. The FEED contract, with a framework for a possible EPCIC, follows Celsio’s cost reduction initiative for the Klemetsrud CCS project in Oslo and will be delivered based on Aker Carbon Capture’s modularized Just Catch 400 unit, with a design capacity to capture up to 400,000 tonnes of CO2 per year. In December 2023, Aker Carbon Capture signed a FEED contract with Hafslund Oslo Celsio (Celsio) to deliver Norway’s first carbon capture project at a waste-to-energy facility. At Ørsted’s Kalundborg CCS Hub, the groundbreaking event took place on site in December. At Brevik, preparations for the second heavy lift campaign are ongoing and the project is on track for its planned delivery at the end of 2024. At Twence, commissioning is ongoing, which is the final step before sellable CO2 can be produced by the Just Catch 100 unit. The Twence CCU, Brevik CCS and Ørsted Kalundborg Hub CCS projects continued to progress in the quarter and are currently the most mature large-scale carbon capture projects under construction in Europe. Through the coming year, we will strengthen our organization in the United States and Northern Europe to position for the significant growth opportunities ahead of us”, said Egil Fagerland, Chief Executive Officer at Aker Carbon Capture. Overall, our pipeline of paid FEEDs, pre-FEEDs, Mobile Test Unit (MTU) campaigns and studies has increased by around 20 million tonnes of CO2 capture per year in 2023. In 2023, we cemented our leading market position through the award of five Just Catch 100 units to Ørsted, a Just Catch 400 FEED to Celsio, and a Big Catch Process Design Package (PDP) to Uniper. “Aker Carbon Capture is experiencing an acceleration in market activity and strong interest in our growing range of modular carbon capture facilities. The cash position at the end of the fourth quarter was solid at NOK 1.1 billion. Revenues rose to NOK 573 million, up 139% compared to the same period last year. The company’s order backlog increased to NOK 2.6 billion, up from NOK 1.3 billion in the same period last year. In the fourth quarter 2023, Aker Carbon Capture recorded high commercial activity across Europe and the United States. ![]()
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