SLB and Aker Carbon Capture Launch Joint CCS Venture
June 14, 2024
SLB and Aker Carbon Capture (ACC) have launched a joint venture, set up to enable wider adoption of market-ready and new carbon capture and storage (CCS) technologies for power and hard-to-abate industrial sectors worldwide
The new company combines technology portfolios, expertise and operations platforms to support accelerated CCS adoption for industrial decarbonization at scale.
It 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 joint venture currently has seven technology installations in progress that have the capacity to capture up to 1 million tonnes of CO2 emissions per year.
The new company will be headquartered in Oslo. SLB owns 80% of the new company while ACC AA owns the remaining 20% stake.
“There is no credible pathway toward net zero without deploying CCS at scale. 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,” said Gavin Rennick, president of SLB’s New Energy business.
“There is no business as usual in the push toward net zero - we will accelerate decarbonization today and commercialize innovative technologies for the future. 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,” said Egil Fagerland, newly appointed Chief Executive Officer of the SLB–ACC joint venture.
