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Aker Carbon Capture är verksamma inom tillverkningsindustrin. Bolaget arbetar med produktion och utveckling av produkter som minskar kolutsläpp. Utöver huvudverksamheten erbjuds eftermarknadsservice, support och underhåll. Kunderna återfinns inom ett flertal branscher inom tillverkningsindustrin. Verksamhet innehas på global nivå, med störst närvaro inom Europa.
2024-02-27 08:17:05
CO280 Solutions and a leading pulp and paper company have awarded a carbon
capture test campaign to Aker Carbon Capture for an undisclosed site on the Gulf
Coast in the US. This test campaign follows a successful pre-FEED performed for
the same site. It will enable the full-scale implementation of multiple Just
Catch 400 modular capture facilities with permanent storage, and the creation of
carbon removal credits.

Aker Carbon Capture has extensive testing experience, with more than 60,000
operational hours worldwide on multiple industrial flue gases. The company's
mobile test unit will now be applied to the pulp and paper industry for the
first time. The initial results from the campaign are expected towards the end
of 2024, ahead of the project's expected final investment decision.

"We are delighted to work with CO280 and a leading US pulp and paper company to
implement their first carbon capture project. This is a robust business
opportunity for our customer since it is supported both by 45Q carbon tax
credits and additional revenues from the sale of carbon removal credits.
With its strong cost and schedule advantages, our modular Just Catch 400
offering is an ideal fit for pulp and paper mills across the US," said Egil
Fagerland, Chief Executive Officer at Aker Carbon Capture. "This test campaign
signifies a milestone for Aker Carbon Capture's rapid expansion into the
significant North American market." Fagerland continued.

CO280 partners with pulp and paper companies to finance, own, and operate carbon
capture and sequestration (CCS) projects that deliver a new standard of
permanent, high-quality, and affordable carbon removal credits to the voluntary
carbon market. In May 2023, CO280 entered a long-term agreement with JP Morgan
to supply carbon removal credits, in one of the largest carbon removal
agreements ever announced.

"This marks an important first step towards our ambitious goal of scaling-up
carbon removal by capturing and permanently storing biogenic CO2 from the pulp
and paper industry. We have selected Aker Carbon Capture based on its proven
modular design and deep experience with amine technology, which is a key
enabling solution for the carbon removal projects we are developing across the
pulp and paper industry", said Jonathan Rhone, Chief Executive Officer at CO280.

The US pulp and paper industry emits approximately 150 million metric tonnes of
CO2 annually, primarily of biogenic origin. By capturing and storing these
emissions permanently, one achieves negative emissions, as more carbon dioxide
is removed from the atmosphere than is being emitted from the process. Carbon
removals provides an opportunity to not only compensate for hard-to-abate
emissions, but also historical emissions, which is crucial to reaching net zero
in 2050. Aker Carbon Capture is already enabling the creation of high-quality
carbon removal credits through its delivery to Ørsted Kalundborg Hub.

"The pulp and paper industry is a priority market for Aker Carbon Capture in the
US and we are exited to collaborate with CO280 to develop this market. The use
of carbon capture and sequestration technology provides a financial opportunity
to benefit from favorable tax incentives, a chance to support local economic
development as these facilities are built locally, and a pathway towards meeting
the US' climate goals," said Jonah Margulis, Aker Carbon Capture's Head of North
America. "We look forward to continuing to partner with CO280 and other industry
leaders to bring our proven technology to pulp and paper mills across the
country."

Aker Carbon Capture's Mobile Test Unit is a complete CO2 capture plant that
includes the company's advanced carbon capture technology where the test results
are scalable when implementing full scale plants. Aker Carbon Capture's Just
CatchT modular offering is a standardized product that enables the pre
-fabrication of carbon capture units. The company is currently delivering seven
carbon capture units: five Just Catch 100 units to Ørsted, one Just Catch 100
unit to Twence and a Big Catch delivery to Heidelberg Materials at Brevik. These
flagship projects contribute to the company's development of serial production
of carbon capture units providing cost and delivery benefits for the mid-scale
emitter market.

ENDS

Media contact:
Marianne Stigset, mob:?+47 41 18 84 82 (http://tel:+47 41 18 84 82), email:
marianne.stigset@akerhorizons.com

Investor contact:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
david.phillips@akercarboncapture.com

CO280 contact:
Tom Raith, mob: +1 415 318 6865 (http://tel:+1 415 318 6865), email:
tom@co280.com

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 (https://www.akercarboncapture.com/) and connect
with us on LinkedIn (https://www.linkedin.com/company/aker-carbon
-capture), Facebook (https://facebook.com/akercarboncapture),
Twitter (https://twitter.com/akercarbon),
Instagram (https://www.instagram.com/akercarboncapture/) and
YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press
release may include forward-looking information or statements and is subject to
our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).

CO280 Solutions Inc. is a leading developer of carbon removal projects. The
company is developing the lowest cost, permanently sequestered carbon removal
projects in the world in partnership with pulp and paper companies.
Visit co280.com (https://www.co280.com/) and connect with us on
LinkedIn (https://www.linkedin.com/company/co280/).