Aker Carbon Capture

Aker Carbon Capture is a specialized provider of carbon capture and storage technology and solutions, established as a separate entity by the Norwegian industrial investment company Aker ASA. The company focuses on developing, delivering, and operating modular carbon capture plants, primarily targeting emissions from industrial sources like cement production, waste-to-energy facilities, and gas-fired power plants. Its goal is to commercialize and scale technology to reduce greenhouse gas emissions and support global climate change mitigation efforts.

History

The company's origins are tied to the broader carbon capture research and development initiatives within the Aker Solutions engineering group, which had been active in the field for decades. In 2020, Aker ASA decided to spin off these activities into a dedicated, publicly traded entity to accelerate growth in the emerging CCS market. This move was influenced by increasing global policy focus on net zero targets and the maturation of key technologies. The initial public offering on the Oslo Stock Exchange provided capital to expand its project portfolio and advance its proprietary amine-based capture process, building on Norway's long history in offshore carbon storage projects.

Technology

The core technology is a proprietary amine-based solvent process, marketed as the Just Catch and Big Catch modular capture plants. This chemical absorption system is designed to be energy-efficient and compact, allowing for prefabricated modules that reduce onsite construction time and cost. The process involves flue gas being treated in an absorber column where carbon dioxide is captured by the solvent, which is then regenerated in a stripper column using heat, typically from steam or other industrial sources. The company emphasizes integration with existing industrial infrastructure and the ability to handle varying flue gas compositions from sectors like biomass energy and heavy industry.

Projects and operations

Notable projects include the capture plant at the Twence waste-to-energy facility in the Netherlands, one of the first commercial-scale installations in the European Union. In Norway, the company is involved in the large-scale Northern Lights project, providing capture units for Heidelberg Materials' cement plant in Brevik. Other key engagements include a feasibility study for a carbon capture facility at a Viridor waste plant in the United Kingdom and delivering modules for the Ørsted biomass-fired Avedøre Power Station in Denmark. These projects are often developed in collaboration with major energy companies and industrial conglomerates.

Business model and partnerships

The company operates primarily as an engineering, procurement, and construction provider, offering both standalone technology sales and long-term operation and maintenance services. It seeks strategic partnerships to de-risk projects and scale deployment, having formed collaborations with entities like Microsoft through its Climate Innovation Fund and the Swiss Re insurance group. Key industrial partners include Siemens Energy for power plant integration and various European energy utilities. Its business strategy is closely tied to supportive regulatory frameworks, such as the European Union Emissions Trading System and tax credit mechanisms like the 45Q tax credit in the United States.

Environmental impact and challenges

The primary environmental benefit is the potential for significant reduction in industrial emissions, particularly in hard-to-abate sectors crucial for circular economy models. However, the technology faces challenges including high energy consumption for solvent regeneration, which can increase demand for renewable energy if net emissions reductions are to be maximized. Other issues involve the long-term integrity of geological storage sites and the need for extensive CO2 pipeline infrastructure. The company actively participates in industry consortia like the Global CCS Institute to address these systemic barriers and improve the life-cycle assessment of full-chain carbon capture and storage solutions.

Category:Carbon capture and storage companies Category:Companies based in Oslo Category:Companies listed on the Oslo Stock Exchange