Nina Jensen’s Post

📢 A giant leap forward in support of our vision to materially reduce global emissions through industrial decarbonization: Aker Horizons' portfolio company Aker Carbon Capture and SLB have agreed to combine their respective carbon capture businesses. The new company will bring together complementary technology portfolios, leading process design expertise and an established project delivery platform, enabling us to bring carbon capture solutions to market faster and more economically. The transaction builds on the long-standing collaboration between the Aker ASA group and SLB. "We are immensely proud of what ACC has accomplished and the value creation this transaction demonstrates for shareholders. We can think of no better partner than SLB to rapidly scale cost-effective solutions across the carbon capture value chain," said Aker Horizons CEO and Aker Carbon Capture Chairman Kristian Røkke. The International Energy Agency (IEA) sees CCUS as 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 SLB's CEO Olivier Le Peuch. “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.” Read all about the new partnership here: https://lnkd.in/dnqQJenB #CCS #netzero #energytransition

SLB announced agreement to acquire majority ownership in Aker Carbon Capture 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 29announced an agreement to combine its carbon capture business with Aker Carbon Capture (ACC) to support accelerated industrial decarbonization at scale.

In the next few decades, many industries that are crucial to our modern world must rapidly adopt carbon capture to decarbonize and meet net-zero targets. Today, we are proud to announce the closing of our joint venture with Aker Carbon Capture, which will accelerate carbon capture for power and hard-to-abate industrial sectors by enabling access to market-ready and new carbon capture technologies worldwide. To learn more about the joint venture, click here: bit.ly/4en4zi7

Exciting developments in the carbon capture industry! Occidental's Stratos project, designed to capture 500,000 tonnes of CO2 annually, has seen a surge in investment. Despite a project cost increase to $1.3 billion, the public and private sectors are doubling down. BlackRock's joint venture with Occidental and Berkshire Hathaway's endorsement through increased shares showcases a growing confidence in the sector. The Stratos project is not just capturing carbon; it's capturing attention and investment momentum. #CarbonCapture #Sustainability #InvestmentBoost https://lnkd.in/eZMwhyrh

Bristol tech secures more than £8.5M to scale waste-to-energy technology 🪙📈 Bristol waste-to-energy company WASE LIMITED has secured £8.5 million to unlock the power of waste. The round was led by Extantia Capital, with participation from Hitachi Ventures, WEPA Ventures, the family venture capital firm of the European multigenerational family business WEPA, and ENGIE New Ventures, the CVC arm of the global energy company ENGIE. Other investors include Elbow Beach Capital and Empirical Ventures. The round includes £2.4 million in non-dilutive funding. The round earmarks funds for the company to scale operations and execute multi-million pounds of signed contracts and projects with customers. The company said: "The investment is crucial in the next stage of our scale-up strategy and the delivery of our proprietary Electro-Methanogenic Reactor (EMR) technology to customers. We are excited for the coming years and the impact the investment will enable us to achieve." Continue reading... https://lnkd.in/e3SjRKX7 #technology #finance #funding #investing #sustainability #energy #climate #environment #businessnews #businessintelligence

DNV would like to congratulate SFP Group B.V. on raising a €120 million green loan for the construction of two large-scale biomethane plants in the Netherlands. SFP Group has one of the largest operating biomethane production facilities in Europe and by adding the new two plants, the company will produce ~800 GWh of biomethane annually, which SFP Group estimates to be enough to supply more than 50.000 households with green gas every year. By making use of waste and transforming it into biomethane - a reliable and renewable fuel - SFP Group enables their customers to reduce greenhouse gas emissions and support the energy transition. To construct the two new biomethane plants, SFP Group raised senior debt from ABN AMRO Bank N.V. and ING Nederland, and a junior tranche from Zencap Asset Management. The equity will be provided by SFP Group and SWEN Capital Partners. DNV conducted the technical and commercial due diligence to support the debt capital raise. Read more here > https://dnv.social/5zR

ADNOC broadens carbon management portfolio with Storegga CCS investment - by World Oil ''ADNOC has taken a 10.1% equity stake in Storegga to become a lead investor in the UK-based company that focuses on the development of global carbon capture and storage (CCS) projects. The strategic transaction represents ADNOC’s first international equity investment in carbon management and supports the company’s strategy to leverage carbon management partnerships and technology to advance global carbon capture and storage projects that can accelerate decarbonization. The investment is enabled by ADNOC’s initial allocation of $15 billion to low-carbon solutions and decarbonization technologies. ADNOC is targeting a carbon capture capacity of 10 MMtpa by 2030, equivalent to taking over 2 million internal combustion vehicles off the road. Storegga has a portfolio of carbon capture projects in the UK, U.S. and Norway. In the UK, Storegga is leading the development of the Acorn CCS project, which is poised to store up to 10 MMtpa of CO2  2030. The company was recently awarded a license, with partners, to develop the Trudavang CCS project in Norway, and is developing several CCS opportunities in the United States, the most advanced of which is the Harvest Bend CCS project in Louisiana.'' #carboncapture #ccs Read more at - https://lnkd.in/djtJEHmf

I found this very telling and I should say well done to the Aker CCS Folks and it shows that SLB is stepping into the CCS space big time by combining their subsurface know-how with capture technology. That SLB, a global technology company, has announced a major step in supporting industrial decarbonisation by acquiring an 80% stake in Aker Carbon Capture Holding for $380 million. Olivier Le Peuch, CEO of SLB, emphasizes the importance of scaling up carbon capture technologies to achieve global Net Zero goals and reduce project expenses. By teaming up with Aker Carbon Capture, SLB aims to accelerate the deployment of carbon capture solutions across industries, transforming the economics of carbon capture. #SLB ##Decarbonisation #CarbonCapture #NetZero

Climatetech’s second wind Climatetech has emerged as a pivotal sustainability investment theme for private equity. Xhulio Ismalaj explores the journey #climatetech businesses have been through in the midmarket and finds out why the future for the subsector remains hopeful Special thanks to: Doerte Hirschberg, (Climentum Capital),  Clare Murray (Blume Equity), and Elin Ljung (Nordic Capital) #RealDeals #PrivateEquity #ESG #Climatech #SustainableInvestments