Hunter Group ASA announced that it, in close collaboration with DNV and Vedam Design has successfully completed the first phase of the development of a low-pressure mid-stream shipping solution for Carbon Capture, Transportation and Storage, involving 40k cbm deep sea liquefied CO2 carriers ("LCO2"), 12k cbm LCO2 feeder vessels and 2k cbm LCO2 barges for riverine/port support. The solution is technically innovative and should lead to significant cost savings compared with existing LCO2 ship designs. As the project is progressing towards commercialization, the company now entering a new phase which will involve adapting the solution to the latest IMO and EU regulations.

The company have been contacted by several interested parties, but given the recent headwinds in the CCTS value chain, and the high price of new buildings, firm long-term contracts will be needed before any vessel orders can be placed. The company remain firm believers in CCTS' role in the fight against climate change and will continue to diligently develop and promote CCTS solution to ensure that the company is ready when the market for maritime LCO2 transportation gains traction.