SLB and Aker Carbon Capture have closed on their previously announced joint venture. The new company is said to combine technology portfolios, expertise and operations platforms to support accelerated carbon capture adoption for industrial decarbonisation at scale, and is aiming at new carbon capture technologies for power and hard-to-abate industrial sectors worldwide.
“There is no credible pathway toward net zero without deploying carbon capture and sequestration (CCS) at scale,” said Gavin Rennick, president of SLB’s New Energy business. “In the next few decades, many industries that are crucial to our modern world must rapidly adopt CCS to decarbonise. Through the joint venture, we are excited to accelerate disruptive carbon capture technologies globally.”
The new company will combine ACC’s amine-based ‘Advanced Carbon Capture’ technologies, including Just Catch and Big Catch modular plant technologies for medium- and large-scale facilities, and Just Catch Offshore for offshore gas turbines, with SLB’s portfolio of technology solutions, including non-aqueous solvent and emerging sorbent-based offerings. The company currently has seven technology installations in progress that have the capacity to capture up to one million tonnes of CO2 emissions per year.
“There is no business as usual in the push toward net zero – we will accelerate decarbonisation today and commercialise innovative technologies for the future,” said Egil Fagerland, newly appointed CEO of the SLB–Aker Carbon Capture joint venture.
The new company will be headquartered in Oslo. SLB owns 80% while ACC ASA owns the remaining 20% stake.
