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    ACC   NO0010890304

AKER CARBON CAPTURE ASA

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Aker Carbon Capture Gears Up to Realize CCS in the UK

09/08/2021 | 07:03am EDT

The pure play carbon capture company Aker Carbon Capture is gearing up in the UK to capture opportunities in the rapidly evolving Carbon Capture and Storage market.

The company recently established a UK entity and is working on several projects to apply its proprietary carbon capture technology in the UK, which has been a front-runner in developing CCS over the past decade. 

The UK government has pledged to establish carbon capture of up to 10 million tonnes of CO2 per year from 2030, with the first industrial clusters in operation by the mid-2020s. 
"Aker Carbon Capture will work to realize the solutions and facilities required for the UK to reach its ambitious climate goals and contribute to developing new sustainable jobs in the country," said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture.

CCS could support thousands of jobs in the UK by 2030, according to the UK government's plans for a £1 billion CCS infrastructure fund - part of its Ten Point Plan for a Green Industrial Revolution from November 2020.

Aker Carbon Capture will work closely with a new consortium announced today by Aker Solutions, Siemens Energy and Doosan Babcock to deliver CCS solutions for gas fired power stations in the UK. Aker Carbon Capture will provide its capture technology with low solvent degradation and low emissions and key equipment to complement the consortium's broad capabilities to deliver major industrial projects.

Aker Carbon Capture and Siemens Energy in March announced plans to develop combined offerings for carbon capture solutions for gas turbines and gas-fired power plants. Siemens Energy, a leading energy technology company focused on driving decarbonization, offers an established UK track record in the delivery of CCGT power plants and strong operations and maintenance capabilities. 

Separately, Aker Carbon Capture is also actively engaged in projects in other sectors, including the waste-to-energy industry. the company recently completed a feasibility study for Viridor to explore implementation of carbon capture at one or more of the recycling and waste management company's plants in the UK.

Aker Carbon Capture is also exploring the market for CCS for cement factories building on the project experience from the Heidelberg cement factory in Brevik, Norway.

Offering Carbon Capture as a Service - carbon capture made easy(TM) 

One market innovation that could encourage early adoption of CCS in the UK is carbon capture as a service. Aker Carbon Capture is offering an integrated solution that covers everything a customer needs to reduce emissions by CCS. As part of the service, Aker Carbon Capture will deliver and operate carbon capture facilities, with transport and storage embedded in the service through strategic partnerships. 

"The market response to carbon capture as a service has been very encouraging. Offering the full value chain under one pay-per-tonne model is a bold innovation the market appears to appreciate," said Jon Christopher Knudsen, Chief Commercial Officer at Aker Carbon Capture.

ENDS

Media contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akerhorizons.com

Investor contact:
Christian Yggeseth, mob: +47 915 10 000, email: christian.yggeseth@akerhorizons.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 and connect with us on LinkedIn, Facebook, Twitter, Instagram and YouTube. This press release may include forward-looking information or statements and is subject to our disclaimer, see akercarboncapture.com.

https://news.cision.com/aker-carbon-capture-as/r/aker-carbon-capture-gears-up-to-realize-ccs-in-the-uk,c3411898

https://news.cision.com/aker-carbon-capture-as/i/aker-carbon-capture,c2952185

(c) 2021 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
AKER CARBON CAPTURE ASA -2.15% 26.91 Real-time Quote.51.18%
AKER SOLUTIONS ASA -1.51% 22.22 Real-time Quote.35.08%
SIEMENS AG 0.14% 141.26 Delayed Quote.20.20%
SIEMENS ENERGY AG 1.10% 23.83 Delayed Quote.-21.30%
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Financials
Sales 2021 304 M 36,0 M 36,0 M
Net income 2021 -138 M -16,4 M -16,4 M
Net cash 2021 1 197 M 142 M 142 M
P/E ratio 2021 -117x
Yield 2021 -
Capitalization 16 260 M 1 933 M 1 930 M
EV / Sales 2021 49,6x
EV / Sales 2022 16,0x
Nbr of Employees 26
Free-Float 54,7%
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Number of Analysts 8
Last Close Price 26,91 NOK
Average target price 24,79 NOK
Spread / Average Target -7,89%
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Managers and Directors
Valborg Lundegaard Chief Executive Officer
Egil Fagerland Chief Financial Officer
Henrik O. Madsen Chairman
Jim Stian Olsen Chief Technology Officer
Kristian Monsen R°kke Director
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