Aker Carbon Capture and CO280 form strategic alliance to develop carbon removal projects in the pulp and paper industry

Aker Carbon Capture and CO280 Solutions, have signed a Memorandum of
Understanding (MoU) to collaborate on the development of large-scale Carbon
Dioxide Removal (CDR) projects beginning in the US and Canada pulp and paper
industry that will deliver permanent, verifiable, affordable carbon removals.

The parties will collaborate as preferred partners on a project-by-project
basis, for point source carbon capture plants for pulp and paper mills, with the
ambition to deploy Aker Carbon Capture's modularized Just Catch series. Both
parties will be working toward a standard CDR solution, which includes post
-combustion carbon capture and compression for recovery boilers, power boilers,
lime kilns and other stack emissions.

CO280 is a leading developer of Carbon Dioxide Removal projects in the pulp and
paper industry. In partnership with pulp and paper companies CO280 develops,
finances, owns, and operates large-scale CDR projects. CO280's projects address
a critical supply gap in the CDR market by supplying permanent, verifiable, and
affordable CDR to corporate buyers in the voluntary market. JPMorgan Chase
signed one of the largest carbon removal agreements ever announced with CO280 in
May, 2023. CO280 currently has more than 10 million tonnes per year of permanent
CDR under development.

North America's pulp and paper industry represents a carbon removal opportunity
of up to 130 million tonnes per year. This is due to the fact that individual
mills have a CO2 emissions profile that is 80-90% biogenic.

"We are excited to expand on our collaboration with CO280 on accelerating carbon
removal in the US and Canada. Carbon capture will play a key role in achieving
global climate goals as it enables both carbon reduction and carbon removal.
Together, C0280 and Aker Carbon Capture will enable large-scale delivery of
CDRs," said Egil Fagerland, Chief Executive Officer at Aker Carbon Capture.
"This builds on our previous announcement of a test campaign to be conducted at
the site of a leading pulp and paper company on the Gulf Coast in the US,"
Fagerland continued.

"Capturing and sequestering biogenic CO2 from pulp and paper mills can help
scale-up the CDR market, decarbonize the pulp and paper industry, and have a
positive impact on the environment," said Jonathan Rhone, Chief Executive
Officer of CO280. "Our alliance with Aker Carbon Capture will enable us to
unlock this potential and create the world's first permanent, verifiable, and
affordable CDR solution at scale."

"Our strategic alliance with CO280 has provided Aker Carbon Capture unique
access into both the pulp and paper and CDR markets. We see both markets in the
US and Canada as a natural fit for our modular technology. We are already
delivering our proven technology in Europe and plan to do the same in North
America in response to positive policy developments," said Jonah Margulis, Aker
Carbon Capture's Head of North America.

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:?[phone] (http://tel:[phone]), email:
[e-mail]
Investor contacts:
David Phillips, mob: [phone] (http://tel:[phone]), email:
[e-mail]

CO280 contact:
Tom Raith, mob: [phone] (http://tel:[phone]), email: [e-mail]

Aker Carbon Capture is dedicated to carbon removal and reduction. The company's
proven modular solutions enable industries to deploy capture technology at speed
and scale, meeting the requirements of tomorrow and the opportunities of today.

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 developer of carbon removal projects. We partner with
leading pulp and paper companies to develop Carbon Dioxide Removal (CDR)
projects that deliver a new standard of permanent, verifiable, and affordable
carbon removal credits to the voluntary carbon market.
Visit co280.com (http://www.co280.com) and connect with us on
LinkedIn (https://www.linkedin.com/company/co280/).

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