Aker Carbon Capture launches ‘Carbon Capture as a Service’
Aker Carbon Capture has launched Carbon Capture as a Service – carbon capture made easy, an integrated offering that covers everything a customer needs to reduce emissions by CCS.
‘Now is the time to bring the full value chain together to enable source to storage decarbonisation. 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 Valborg Lundegaard, chief executive officer of Aker Carbon Capture.
As part of the service, the company will deliver and operate the carbon capture facilities. Transport and storage will be embedded in the service through strategic partnerships.
Interest from companies that want to reduce their industrial emissions has skyrocketed. However, to most of these clients, CCS is a new concept that requires large upfront investments and a variety of contracts and interfaces; from securing financing, to separate contracts for each step in the value chain as well as a number of contracts throughout the operational lifetime.
Aker Carbon Capture, building on more than 20 years of technology development and operational experience with CCS, will handle all interfaces and contracts as one single service, where the customer simply pays per tonnes CO2 captured.
Through standardisation with the Just Catch modular product, digitalisation, and integrating the full value chain, Carbon Capture as a Service will not only accelerate the market, but also accelerate cost reductions. Aker Carbon Capture will remain a technology driven innovator in the CCS space and maintain a capital light business model. The required investments for building and owning the plants will be financed through a separate yield company to optimise the overall cost of capital. This yield company will be established by Aker Horizons, in cooperation with Aker Carbon Capture, and will invite third party capital that has a long term capital deployment perspective and shared view on the importance of decarbonisation.
The new service is designed to accelerate deployment of CCS across industries.
‘Many companies that want to reduce emissions through CCS have been held back by the complexity and commitment required to act. This is carbon capture made easy; commercially viable CCS,’ said Valborg.