Published by Todd Bush on June 14, 2024
The joint venture will enable wider adoption of market-ready and new carbon capture technologies for power and hard-to-abate industrial sectors worldwide
June 14, 2024 06:30 AM Eastern Daylight TimeHOUSTON & OSLO, Norway--(BUSINESS WIRE)--Regulatory News:
SLB (NYSE: SLB) and Aker Carbon Capture (ACC) announced today the closing of their previously announced joint venture. The new company combines technology portfolios, expertise and operations platforms to support accelerated carbon capture adoption for industrial decarbonization at scale.
>> In Other News: Argonne and a Moroccan University Sign Agreement to Advance Green Energy Tech and Computing
“There is no credible pathway toward net zero without deploying carbon capture and sequestration (CCS) at scale,” said Gavin Rennick, president of SLB’s New Energy business. “In the next few decades, many industries that are crucial to our modern world must rapidly adopt CCS to decarbonize. Through the joint venture, we are excited to accelerate disruptive carbon capture technologies globally.”
The new company will combine ACC’s amine-based Advanced Carbon Capture™ technologies, including Just Catch™ and Big Catch™ modular plant technologies for medium- and large-scale facilities, and Just Catch Offshore™ for offshore gas turbines, with SLB’s portfolio of technology solutions, including non-aqueous solvent and emerging sorbent-based offerings. The company currently has seven technology installations in progress that have the capacity to capture up to 1 million tonnes of CO2 emissions per year.
“There is no business as usual in the push toward net zero—we will accelerate decarbonization today and commercialize innovative technologies for the future,” said Egil Fagerland, newly appointed Chief Executive Officer of the SLB–Aker Carbon Capture joint venture. “We are proud of the carbon capture plants we are delivering across various industries, with each customer being an important front-runner in its segment. Successful project deliveries are paving the way for other emitters to follow,” continued Fagerland.
The new company will be headquartered in Oslo. SLB owns 80% of the new company while ACC ASA owns the remaining 20% stake.
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
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. Find out more at akercarboncapture.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌱 California Hydrogen Leadership Summit to Focus on State and Federal Policies to Strengthen the Hydrogen Economy 🌍 Compassionate Carbon and Catona Climate Join Forces to Scale N...
Inside This Issue 🌍 KAPSARC and Climeworks to Explore Feasibility of Direct Air Capture Solutions in Saudi Arabia 🔋 Advent Technologies Awarded Grant for H2VE Proposal 🏭 SLB Capturi Completes Cons...
Inside This Issue 🌍 dynaCERT Announces Positive Growth with New and Repeat Orders, Expanding Industry Adoption of HydraGEN™ Units ⚖️ Integrating Permanent Carbon Removals Into the EU ETS is Not a ...
HNO International's Chairman & CEO to Share Vision for Hydrogen Economy on NASDAQ Floor
NEW YORK, Dec. 6, 2024 /PRNewswire/ -- Donald Owens, Chairman and CEO of HNO International (OTC: HNOI), a leader in green hydrogen innovation, will appear on the NASDAQ floor on the 13th of Decembe...
Summit organizers are collaborating with ARCHES to extend programming over two days June 3-4, 2025 in Sacramento, focusing on implementing climate incentives and sustainable solutions for cleaner a...
Compassionate Carbon and Catona Climate Join Forces to Scale Nature-Based Projects
Collaboration will accelerate restoration and protection of hundreds of thousands of hectares in the Global South to sequester and store carbon at scale, provide tangible benefits to local communit...
HOUSTON, Dec. 5, 2024 /PRNewswire/ -- HNO International, Inc. (OTC: HNOI) and Pneumatic and Hydraulic Company (PHC) have signed a formal teaming agreement to accelerate the deployment of scalable h...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.