Aker Carbon Capture and Viridor, one of the UK's leading recycling, resources
and waste management companies, today announced plans to help the UK accelerate
its decarbonization agenda through a partnership for next-generation modular
carbon capture, utilization and storage technology (CCUS).
Viridor has an ambition to become the first net zero waste company by 2040 by
bringing forward CCUS alongside plastics extraction and increased recycling. To
support the delivery of CCUS, Viridor unveiled plans that could unleash up to
£1bn private investment into the UK. The plans include exploring the
installation of modular CCUS plants on five Viridor waste-to-energy sites across
the UK. Viridor has partnered with pure-play CCUS specialist Aker Carbon Capture
for the delivery of five modular plants. This partnership with Aker Carbon
Capture could accelerate Viridor's net zero plans by a decade to 2030.
Aker Carbon Capture's Just CatchT modular carbon capture plant is based on the
company's proprietary and HSE-friendly carbon capture technology, which it has
developed over the past two decades.
The modular carbon capture plants will allow the technology to be deployed
within fifteen months of planning and permitting, reducing fossil emissions at
these sites by up to 90 percent. Developing the modular CCUS plants on the five
waste-to-energy sites combined with two planned bespoke CCUS plants, would
deliver about 1.5 million tonnes CO2 savings a year, meeting 15 percent of the
UK government's 2030 emissions reduction target. This investment would also
create around 1,000 construction jobs and up to 180 skilled green jobs in
Scotland, Wales and the English regions.
"We are delighted to partner with Viridor on projects that could realize major
emissions reductions in a hard to abate sector like waste-to-energy by 2030,"
said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture. "Our
modular carbon capture plants are designed for fast delivery and easy hook-up,
and together with our partners we see this as a great opportunity to contribute
to reaching climate goals and creating green jobs in the UK."
This announcement is the latest phase of Viridor's sector-leading
decarbonization plan. In May 2020 Viridor outlined a five-step action plan to
net zero emissions by 2040, and the ambition to be the first net negative
emissions waste and recycling company in the UK by 2045.
"Viridor stands ready to invest in developing world-leading carbon capture
technology," said Kevin Bradshaw, CEO of Viridor, which is majority owned by
investment company KKR. "This will support our company and sector to
decarbonize, as we have committed to do. But first of a kind technology projects
on this scale require genuine partnership between the public and private
sectors. Government policy support for waste management facilities to
participate in industrial carbon capture schemes will be vital for us to keep
progressing our plans."
The partners look forward to collaborating and maturing the opportunities in the
rapidly evolving market for CCUS in the UK.
"The UK has set out a globally leading ambition on CCUS and has the natural
resources to make this a reality, which was instrumental in attracting Aker
Carbon Capture to partner with Viridor in this market," said David Phillips,
Head of UK at Aker Carbon Capture.
Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
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),
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/).
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Katja Aanestad, Marketing
Communications, Aker Carbon Capture on October 19, 2021 at CET 08:30.
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