Aker Carbon Capture made progress in new and existing projects in the second
quarter, as the pure-play carbon capture specialist continued to expand
internationally.
"With ETS quota prices nearly doubling the last twelve months, the number of
industrial emitters approaching Aker Carbon Capture for our CCS solutions
continues to rise," said Valborg Lundegaard, Chief Executive Officer of Aker
Carbon Capture.
Aker Carbon Capture today separately announced the launch of Carbon Capture as a
Service; Carbon capture made easyT, an integrated offering that covers
everything a customer needs to reduce emissions by CCS. As part of the service,
Aker Carbon Capture will deliver and operate the carbon capture facilities, and
transport and storage will be embedded in the service through strategic
partnerships.
"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," said Lundegaard.
Q2 Highlights
Highlights in the second quarter included progress made in the Brevik CCS
project and securing agreements with new customers in the company's targeted
regions and industries.
The Brevik CCS project to deliver the world's first industrial-scale carbon
capture plant at a cement factory progressed according to plan in the quarter,
with key milestones achieved.
The company secured several strategic studies in the quarter, including an
agreement with BIR to explore carbon capture at the largest CO2 emitter in
Bergen, Norway. The waste to energy company's plant is located only 60 km from
the Northern Lights terminal. ACC also secured a feasibility study to explore
implementation of carbon capture at one of Viridor's largest plants in the UK.
After the quarter ended, Aker Carbon Capture and Iceland's Carbfix have
established a partnership aimed at combining the companies' complementary
technologies to offer the full CCS value chain in the global fight against
climate change. Together with Carbfix, Aker Carbon Capture will explore CCS at
Elkem Iceland's ferrosilicon plant. The three companies have signed an MoU for
the ground-breaking work of reducing the CO2 emissions of Elkem's plant through
carbon capture and Carbfix's unique on-site mineral storage in basalt
structures.
The company continued to expand internationally, with the first offices
established in Denmark and UK to position the company for ongoing CCS projects.
During the quarter, shares in Aker Carbon Capture started trading on Oslo Børs'
main list, moving from Euronext Growth, and the company started trading on OTCQX
in the US, making the pure-play carbon capture stock eligible for trading by a
wider pool of investors. OTCQX is a top tier marketplace for the over-the
-counter (OTC) trading of stocks. The OTCQX is provided and operated by the OTC
Markets Group.
Financial result and outlook
Revenue for the quarter was NOK 69 million and EBITDA (Earnings before interest,
tax, depreciation and amortisation) was negative NOK 47 million. The cash
balance at the end of the quarter was NOK 552 million.
Aker Carbon Capture aims to take a leading position in the global CCS industry,
and the company last year launched a long-term goal of '10 by 25', which states
that the company will have secured firm contracts for carbon capture plants for
a total of 10 million tonnes per year by the end of 2025.
The company today also published its first-half report, which is attached and
available on akercarboncapture.com.
ENDS
Media contact:
Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:
ivar.simensen@akerhorizons.com
Investor contact:
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
christian.yggeseth@akerhorizons.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 CO\2\ emissions.
Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect
with us on LinkedIn (https://www.linkedin.com/company/aker-carbon
-capture), Facebook (https://facebook.com/akercarboncapture),
Twitter (https://twitter.com/akercarbon),
Instagram (https://www.instagram.com/akercarboncapture/) and
YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press
release may include forward-looking information or statements and is subject to
our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Katja Aanestad, Marketing
Communications, Aker Carbon Capture on July 12, 2021 at CEST 07:00.