Aker Carbon Capture awarded study for capturing biogenic CO2 in Sweden

"We are excited to support Nordbex with our carbon capture technology on their path to providing clean baseload energy to local communities in Sweden, while removing carbon dioxide from the atmosphere," said Jon Christopher Knudsen, Chief Commercial Officer at Aker Carbon Capture. "Bioenergy with carbon capture and storage (BECCS) has been identified as playing a key role in Sweden's goal to achieve Net-Zero greenhouse gas emissions by 2045. The award from Nordbex further strengthens Aker Carbon Capture's position in the growing Swedish market, where we were awarded several study contracts over the course of 2023."

"We are excited to support Nordbex with our carbon capture technology on their path to providing clean baseload energy to local communities in Sweden, while removing carbon dioxide from the atmosphere," said Jon Christopher Knudsen, Chief Commercial Officer at Aker Carbon Capture. "Bioenergy with carbon capture and storage (BECCS) has been identified as playing a key role in Sweden's goal to achieve Net-Zero greenhouse gas emissions by 2045. The award from Nordbex further strengthens Aker Carbon Capture's position in the growing Swedish market, where we were awarded several study contracts over the course of 2023."

Sweden aims to become carbon neutral by 2045 and to achieve negative net CO2 emissions in the ensuing years. As part of these ambitions, Sweden, a country with a large bio-energy sector, is positioning itself to become a global leader in generating high quality and durable carbon dioxide removal (CDR) credits from bioenergy with carbon capture and storage. The European Commission recently presented a 90% net GHG emissions reduction proposal compared to 1990 levels as the recommended target for 2040. To deliver a reduction of net GHG emissions of 90%, the EU GHG emissions in 2040 should be less than 850 MtCO2-eq and carbon removals should reach up to 400 MtCO2, a large part of which will have to be BECCS.

"We are very pleased to be working with Aker Carbon Capture for the engineering study of our first project in the Nordic region. With our background of developing power plants with carbon capture and utlilisation (CCU) in the UK, we've been selective with the companies that we have engaged in this project. We want to work with the best partners that share the same objective to make a real impact in the race to Net-Zero," said Carl Berglund, CCO at Nordbex.

The electricity grid in Southern Sweden has a need for clean, reliable, affordable baseload power to support increased demand. Nordbex is developing solutions that utilise sustainable natural resources from the local area, in combination with the innovative configuration of proven technologies to provide 20-25MW of carbon negative electric power generation capacity to the grid.

"By delivering a distributed and scalable BECCS solution, we will support the need for carbon removal and provide additional power at the same time. Our belief is that likeminded partners will help take us there faster, and that's why we have selected Aker Carbon Capture for this project," said Håkan Karlsson, CTO at Nordbex.

Aker Carbon Capture is currently delivering seven carbon capture plants. At Twence waste-to-energy facility in the Netherlands, Aker Carbon Capture is currently delivering a Just Catch unit with a capacity of 100,000 tonnes CO2 per year. For Heidelberg Materials' cement plant in Brevik Norway, Aker Carbon Capture is delivering a carbon capture plant with a capacity of 400,000 tonnes per year, and for Ørsted in Denmark Aker Carbon Capture is delivering five Just Catch 100 units. The Ørsted contract was enabled by a partnership between Ørsted, Microsoft and Aker Carbon Capture where the creation and offtake of CDRs was a key enabler for the business case. All these flagship projects contribute to Aker Carbon Capture's mission to standardize and modularize carbon capture plants, with reduced footprint and significant cost and energy benefits.

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Marianne Stigset, mob: +47 41 18 84 82, email: [email protected]

Investor contacts:
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