![]() ![]() As for ACC, its business is capital light, as capex, opex, transportation and storage are covered by the project financing and per tonne customer payments. CO2 can through a chemical reaction be turned into stone in various subsurface rock types which then is permanently stored.ĪCC has identified more than 700 relevant emitters across Europe that are exposed to CO2 markets.īecause of the lease financing arrangement, customers for ACC's carbon capture as a service have no upfront investment cost and can outsource the entire carbon capture and storage process to ACC. Untapped market potential for standardized solutionsĬurrently, in Europe, there are 13 CO2 storage projects under development or in planning. Indeed ACC believes it can reduce the cost by 50% over the coming years. As the market matures, this price should come down. ACC offers price risk management which it offloads in the market or packaged into its lease financing arrangements with investors who may want CO2 price risk exposure.Ĭarbon capture as a storage right now costs between EUR 75 and 145 per tonne, as a large bulk of the cost is in the transportation and storage of CO2. The cost depends to the customer depends if they take a variable price, a fixed price, or some range price. These projects qualify as green projects and hence attract a low cost of capital. ![]() The customer pays per tonne CO2 captured and the kit is financed by project finance investors, including Aker Horizons. Just Catch is a smaller piece of kit with capacity of either 40,000 or 100,000 tonnes/year and is an automated modularized and cost efficient unit that is provided by ACC in its "Carbon Capture as a Service" program.Ĭarbon Capture as a Service seems to be an excellent idea as it is provides full value chain carbon capture and storage in one service. It is delivered as an EPC project and licensed to the customer. It has two key offerings: Big Catch and Just Catch.īig Catch is a made to order piece of kit which has a capacity to capture over 400,000 tonnes of CO2 per year. In terms of segments it is prioritizing Cement, Bio/waste to Energy, Blue Hydrogen and Gas to power.ĪCC is also an Engineering, Procurement and Construction, EPC, company. While ACC aims to hedge out carbon price risk, clearly customers have a bigger incentive to install carbon reduction equipment the higher the price of carbon goes.ĪCC is prioritising Northern Europe initially and sees big opportunities emerging in North America too. As I write, carbon prices in Europe trade for EUR 83 per tonne, up over 150% since the start of the year. ACC is targeting the reduction of 10 million tonnes reduction by 2025. With a mature carbon credit system in Europe called the European Union Emission Trading System (EU ETS) this is a robust market backed with market pricing. This pollution is costly and the company has to either reduce emissions or buy carbon credits in the market to compensate. Industrial companies, such as steel or cement makers, or power and heat generators, emit a lot of carbon emissions. Aker Solutions is a leading Engineering, Procurement and Construction company, and with the increased demand for carbon reduction systems in Europe, thanks to ever increasing regulations and a rapidly appreciating carbon price, this business has an amazing growth story ahead of it. MissionĪCC's mission is "Enabling emission free industries and energy solutions through carbon capture".Īs a unit of Aker Solutions previously, the company is not really so new. Aker Horizons is an important partner to Aker Carbon Capture as it supplies project finance for the leasing of Aker Carbon Capture's main service, its Just Catch units, that it provides to clients for carbon emission reduction. Aker Carbon Capture (ACC) raised an additional NOK 500 million through a private placement and started trading on August 26, 2020.Īker Carbon Capture is majority owned - 55% - by Aker Horizons, a "planet-positive" investment company and part of the Aker Group. In order to pursue these market opportunities, the board of directors of Aker Solutions decided to spin off the Carbon capture utilization and storage activity of the business into a separate entity and list this as a pure play company on the Oslo Stock Exchange's Euronext Growth trading platform. ![]() Both are part of the prestigious Norwegian Aker Group.ĭuring 2020, market interest in carbon capture technologies continued to increase markedly. Aker Carbon Capture ASA ( OTCQX:AKCCF) is a spin-off from the respected energy equipment and services company, Aker Solutions ( OTC:AKRTF). ![]()
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