Aker Horizons ASA (OSE: AKH) announced today that Aker Carbon Capture ASA, 43.3% owned by Aker Horizons, has been awarded a large-scale carbon capture project by Ørsted, a global leader in renewable energy, for its Ørsted Kalundborg hub in Denmark. As the carbon capture provider, Aker Carbon Capture will deliver five Just Catch units, as well as additional equipment such as liquefaction systems and temporary CO2 storage and loading/unloading facilities, with a total estimated contract value of over €200 million.
Capture 500 tons of CO2 per year
The carbon capture facilities will be supplied to Ørsted’s wood chip power station, Asnæs Power Station, as well as to the straw boiler at Avedøre Power Station. Together they will have an installed capture capacity of 500,000 tons of CO2 per year.
This announcement follows the award of a 20-year contract to Ørsted by the Danish Energy Agency (DEA) for its carbon capture and storage (CCS) project. The funding will enable the realization of the first large-scale carbon capture and storage value chain in Denmark, implemented by Ørsted, Aker Carbon Capture, Microsoft and Northern Lights.
As part of this landmark project, Microsoft will purchase several million tons of high-quality, sustainable carbon capture over more than ten years from the Ørsted project’s biogenic carbon capture and storage. This is one of the largest carbon capture purchase agreements by volume to date. The project is subject to the signature of the financing contract by Ørsted and the Danish Energy Agency, which will mark the end of the tender procedure for the financing. This signing is expected to take place shortly after the expiration of the mandatory downtime period.