SLB and Aker Carbon Capture Announce Closing of Carbon Capture Joint Venture
14 Junho 2024 - 7:30AM
Business Wire
The joint venture will enable wider adoption of market-ready
and new carbon capture technologies for power and hard-to-abate
industrial sectors worldwide
Regulatory News:
SLB (NYSE: SLB) and Aker Carbon Capture (ACC) announced today
the closing of their previously announced joint venture. The new
company combines technology portfolios, expertise and operations
platforms to support accelerated carbon capture adoption for
industrial decarbonization at scale.
“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 decarbonize. 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 1
million tonnes of CO2 emissions per year.
“There is no business as usual in the push toward net zero—we
will accelerate decarbonization today and commercialize innovative
technologies for the future,” said Egil Fagerland, newly appointed
Chief Executive Officer of the SLB–Aker Carbon Capture joint
venture. “We are proud of the carbon capture plants we are
delivering across various industries, with each customer being an
important front-runner in its segment. Successful project
deliveries are paving the way for other emitters to follow,”
continued Fagerland.
The new company will be headquartered in Oslo. SLB owns 80% of
the new company while ACC ASA owns the remaining 20% stake.
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day on innovating oil and gas,
delivering digital at scale, decarbonizing industries, and
developing and scaling new energy systems that accelerate the
energy transition. Find out more at slb.com.
About Aker Carbon Capture
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 CO2
emissions. Find out more at akercarboncapture.com.
Cautionary Statement Regarding Forward-Looking
Statements:
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws — that is,
statements about the future, not about past events. Such statements
often contain words such as “expect,” “may,” “can,” “estimate,”
“intend,” “anticipate,” “will,” “potential,” “projected" and other
similar words. Forward-looking statements address matters that are,
to varying degrees, uncertain, such as forecasts or expectations
regarding the deployment of, or anticipated benefits of, SLB’s new
technologies and partnerships; statements about goals, plans and
projections with respect to sustainability and environmental
matters; forecasts or expectations regarding energy transition and
global climate change; and improvements in operating procedures and
technology. These statements are subject to risks and
uncertainties, including, but not limited to, the inability to
achieve net-negative carbon emissions goals; the inability to
recognize intended benefits of SLB’s strategies, initiatives or
partnerships; legislative and regulatory initiatives addressing
environmental concerns, including initiatives addressing the impact
of global climate change; the timing or receipt of regulatory
approvals and permits; and other risks and uncertainties detailed
in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or
furnished to the U.S. Securities and Exchange Commission. If one or
more of these or other risks or uncertainties materialize (or the
consequences of such a development changes), or should underlying
assumptions prove incorrect, actual outcomes may vary materially
from those reflected in our forward-looking statements. The
forward-looking statements speak only as of the date of this press
release, and SLB disclaims any intention or obligation to update
publicly or revise such statements, whether as a result of new
information, future events or otherwise.
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Media Moira Duff – Director of External Communications
SLB Tel: +1 (713) 375-3407 media@slb.com
Stian Andreassen – ACC ASA media contact Tel: +47 416 43 107
stian.andreassen@akerhorizons.com
Hanne Rolén – JV media contact Tel: +47 990 02 571
hanne.rolen@akercarboncapture.com
Investors James R. McDonald – Vice President of Investor
Relations Joy V. Domingo – Director of Investor Relations SLB Tel:
+1 (713) 375-3535 investor-relations@slb.com
David Phillips, Head of Capital Markets ACC Tel: +44 7710 568279
david.phillips@akercarboncapture.com
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