Norway's ACC to offer CO2 capture and storage service
Norwegian company Aker Carbon Capture (ACC) said it would launch a service offering the removal of carbon dioxide (CO2) from industrial processes and its subsequent storage.
The company, previously a division of oil services company Aker Solutions, said it saw increased interest from potential customers as European Union carbon prices nearly doubled over the last year.
"With our offering, customers will simply pay per tonne captured CO2. We will handle the CO2 throughout the full value chain - from point of emission to permanent storage," ACC's Chief Executive Valborg Lundegaard said.
The company didn't say how much such a service could cost.
The world needs to sharply scale up technology to capture and utilise or store CO2 emissions from industrial processes to meet global climate goals, the International Energy Agency (IEA) has said.
Last year, ACC won a 1.7 billion Norwegian crown ($196.27 million) contract to build a large-scale CO2 capture plant to remove 400,000 tonnes per year at Brevik cement plant in Norway.
The company is also looking at several other projects, including at Elkem's ferrosilicon plant in Iceland, and has developed modular CO2 capture plants that could be transported by trucks.
By 2025, ACC aims to sign firm contracts for capturing 10 million tonnes of CO2 per year.
Its Oslo-listed shares were trading 4.6% higher by 0822 GMT.
($1 = 8.6614 Norwegian crowns) (Reporting by Nerijus Adomaitis; editing by Victoria Klesty; Editing by Kirsten Donovan)
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