AKER SOLUTIONS ASA March 25, 2021 -Aker Solutions and Doosan Babcock have agreed to jointly deliver projects for low-carbon solutions and renewable energy in theUK . The partners will particularly focus on pursuing and winning contracts for new hydrogen production plants, and facilities for carbon capture, utilization and storage (CCUS). Opportunities for other projects within the process and energy industries will also be explored. The duo has signed a memorandum of understanding (MoU) and established a team with key people from both organizations. The combination ofAker Solutions and Doosan Babcock provides a full engineering, procurement, construction and installation (EPCI) solution for theUK's progressive energy transition agenda. The two companies have already identified some key prospects which they are positioning for. "The joint offer fromAker Solutions and Doosan Babcock provides the customers with an offer to deliver complete, sustainable energy facilities based on the proven track record of both companies," said Kjetel Digre, CEO ofAker Solutions . "This is also an important step for our objective to grow within projects related to the energy transition, and for our strategy to establish business models with solid partners where this can add value." "This strategic agreement enables both companies to work together in a highly integrated manner, to pursue some of the largest and most exciting low-carbon projects in theUK ," saidAndrew Colquhoun , CEO of Doosan Babcock. "Our complementary capabilities will ensure a highly attractive offering for our customers."Aker Solutions has operations in more than 20 countries worldwide. In theUK , the company's key locations are inScotland andSouth East England . The company has for 50 years delivered complete solutions to oil and gas operators, spanning concept development, engineering, construction, installation, subsea technology and support to facilities in operation offshore and onshore. Over the past years,Aker Solutions has established substantial business within decarbonization and renewables. "We will maintain our already strong position within the oil and gas market, and in parallel grow within low-carbon solutions and zero-emission energy projects. We are already a key contractor for the world's largest full-scale carbon capture and storage project, and we are currently engaged in early-phase work for customers with plans for new hydrogen projects. Built on the established expertise and capabilities we have, we see exciting opportunities to build more industrial activities in theUK ," said Digre. As a part of the globalDoosan group, Doosan Babcock is an engineering and construction company in theUK . The company has a solid track record from onshore projects and construction of power plants in theUK and has also experience from carbon capture plant projects. ENDS Media Contact:Torbjørn Andersen , mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com Investor Contact:Fredrik Berge , mob: +47 450 32 090, email: fredrik.berge@akersolutions.comAker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production.Aker Solutions employs approximately 14,000 people in more than 20 countries. Visit akersolutions.com and connect with us on Facebook (https://www.facebook.com/AkerSolutions/), Instagram (https://instagram.com/akersolutions/), LinkedIn (https://www.linkedin.com/company/aker-solutions), Twitter (https://twitter.com/akersolutions) and YouTube (https://www.youtube.com/akersolutions). This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
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