SLB Announces Agreement to Acquire Majority Ownership in Aker Carbon Capture
27 Março 2024 - 8:33PM
Business Wire
SLB and Aker Carbon Capture will combine technology portfolios,
expertise and operations platforms to bring carbon capture
solutions to market more quickly and more economically
SLB (NYSE: SLB) today announced an agreement to combine its
carbon capture business with Aker Carbon Capture (ACC) to support
accelerated industrial decarbonization at scale.
Bringing together complementary technology portfolios, leading
process design expertise and an established project delivery
platform, the combination will leverage ACC’s commercial carbon
capture product offering and SLB’s new technology developments and
industrialization capability. It will create a vehicle for
accelerating the introduction of disruptive early-stage technology
into the global market on a commercial, proven platform. Following
the transaction, SLB will own 80% of the combined business and ACC
will own 20%.
The International Energy Agency (IEA) sees carbon capture,
utilization, and sequestration (CCUS) playing a critical role in
the net-zero transition—estimating that over one gigaton of CO2 per
year will need to be captured by 2030, scaling up to over six
gigatons by 2050.
“For CCUS to have the expected impact on supporting global
net-zero ambitions, it will need to scale up 100-200 times in less
than three decades,” said Olivier Le Peuch, chief executive
officer, SLB. “Crucial to this scale-up is the ability to lower
capture costs, which often represent as much as 50-70% of the total
spend of a CCUS project. We are excited to create this business
with ACC to accelerate the deployment of carbon capture
technologies that will shift the economics of carbon capture across
high-emitting industrial sectors.”
SLB will pay NOK 4.12 billion to purchase 80% of Aker Carbon
Capture Holding AS (ACCH), which holds the business of ACC, and
will contribute the SLB carbon capture business to the combined
entity. SLB may also make additional payments of up to NOK 1.36
billion over the next three years based on the performance of the
business.
The transaction is subject to regulatory approvals and is
expected to close by the end of the second quarter, 2024.
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, expectations and
projections regarding the expected benefits of the proposed
transaction; the expected timing of the completion of the
transaction; the parties’ ability to complete the transaction
considering the various regulatory approvals and other closing
conditions; future opportunities for the combined business and its
products and services; forecasts or expectations regarding energy
transition and global climate change; and any other statements
regarding the parties’ future expectations, beliefs, plans,
objectives, financial conditions, assumptions or future events or
performance. These statements are subject to risks and
uncertainties, including, but not limited to, satisfaction of the
closing conditions to the proposed transaction; the risk that the
proposed transaction does not occur; negative effects from the
pendency of the proposed transaction; the ability to realize
expected benefits from the proposed transaction; the timing to
consummate the proposed transaction; the inability to achieve
net-negative carbon emissions goals; the timing or receipt of
regulatory approvals and permits; and (as to SLB) 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 these forward-looking
statements. The forward-looking statements speak only as of the
date of this press release, and the parties disclaim 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 Josh Byerly – Vice President of Communications
Moira Duff – Director of External Communications SLB Tel: +1 (713)
375-3407 media@slb.com
Nina Westgaard Aker Carbon Capture Tel: +47 481 09 409
nina.westgaard@akercarboncapture.com
Investors James R. McDonald – SVP Investor Relations
& Industry Affairs Joy V. Domingo – Director of Investor
Relations SLB Tel: +1 (713) 375-3535 investor-relations@slb.com
David Phillips Aker Carbon Capture Tel: +44 7710 568279
david.phillips@akercarboncapture.com
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