Aker Carbon Capture Appoints Egil Fagerland as New Chief Executive Officer

OSLO, Norway, July 11, 2023 /PRNewswire/ -- Aker Carbon Capture announces the appointment of Egil Fagerland as its new Chief Executive Officer with effect from today, July 11, 2023. Fagerland will replace Valborg Lundegaard, who is stepping down to focus on her health and family. Fagerland is currently CFO of Aker Carbon Capture and has been with the company since April 2021.

Chairperson of Aker Carbon Capture Kristian M. Røkke said the Board was pleased to announce Egil Fagerland as the company's new CEO. He praised Fagerland, stating, "Egil has shown exceptional aptitude and leadership as the CFO of Aker Carbon Capture. His track record in business growth and his solid understanding of the CCUS industry make him an exemplary leader." Røkke expressed his anticipation of Fagerland's contribution in his new role, "We are excited to see Egil bring Aker Carbon Capture to its fullest potential, delivering on the company's current project portfolio and expanding the company in new markets and industries."

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Røkke also paid heartfelt respect to Valborg Lundegaard, under whose leadership the company evolved into a leading entity in the carbon capture domain. He stated, "Valborg's leadership has been inspirational and impactful. Her influence extends beyond Aker Carbon Capture to the broader CCUS industry. We are grateful that she will continue to lend her expertise and insight to Aker Carbon Capture. Her contributions have been invaluable, and we look forward to her continued association with the company."

Lundegaard will serve as a senior advisor to Aker Carbon Capture going forward.

Lundegaard expressed gratitude for the support she received during her tenure, "I would like to thank the Board, our shareholders, executive team, and incredible, purpose-driven colleagues for their trust and support. It has been a privilege to contribute to Aker Carbon Capture's journey, enabling countries and corporations to achieve their climate ambitions." She also voiced her confidence in her successor, "The time for large-scale deployment of CCS is now, and Egil's industry knowledge, business acumen and financial skills are precisely what Aker Carbon Capture needs to navigate the rapidly accelerating market for industrial decarbonization. I wish him all the best as he takes over the helm of this remarkable company."

"I am both honored and excited to take on the role of CEO at Aker Carbon Capture. Our mission is of immense importance – we have the power to significantly impact our planet's future through innovative carbon capture solutions. I look forward to building on the exceptional groundwork laid by Valborg and the team, accelerating our growth and leading Aker Carbon Capture into a new chapter of industrial decarbonization," said Fagerland.

Since 2021, Fagerland has been instrumental in the development and expansion of Aker Carbon Capture. He came to Aker Carbon Capture from DeepOcean, where he was head of ERP and Business Systems. He previously held various roles in Aker Solutions from 2012 till 2020, including as senior vice president, group controlling and financial systems. He has over a decade of experience in finance, project management, business systems and operational improvements from the energy industry. Fagerland holds an MSc in Economics and Business Administration from the Norwegian School of Economics (NHH).

With the transition of Fagerland to the CEO position, the company has initiated a recruitment process to hire a new CFO. Petter Natås will serve as interim CFO. Natås comes from the position of group chief controller at Aker Horizons.

SOURCE Aker Carbon Capture AS