Aker Carbon Capture ASA Reports Strong Q4 Results and Growth
Aker Carbon Capture ASA Shows Promising Q4 Performance
FORNEBU, Norway — Aker Carbon Capture ASA (ACC ASA) concluded the fourth quarter of 2024 with a robust cash position of NOK 4.6 billion and an equity total of NOK 5.5 billion. Impressively, the Company achieved a net profit of NOK 21 million during this quarter, marking a significant stride for growth and stability.
Extraordinary Cash Dividend Proposal
In a recent announcement, the Board of Directors has proposed an extraordinary cash dividend of NOK 5.80 per share, which totals NOK 3.5 billion. This decision reflects the Company's commitment to returning value to its shareholders while continuing to pursue innovative carbon capture technology.
SLB Capturi's Groundbreaking Milestones
World's First Full-Scale Carbon Capture Facility
During the fourth quarter, SLB Capturi, the joint venture formed between ACC ASA and SLB, achieved a groundbreaking milestone with the mechanical completion of the world’s first full-scale carbon capture facility at the Heidelberg Materials Brevik plant. This facility is expected to commence operations by 2025, setting a global precedent in carbon capture technology.
Contracts and Collaborations
In January 2025, SLB Capturi received an EPCIC contract from Hafslund Celsio AS for a carbon capture solution to be implemented at their waste-to-energy facility. This initiative demonstrates the growing demand for energy-efficient solutions that align with sustainability objectives.
Expansion and Project Developments
Earlier in January, ACC ASA confirmed the successful commissioning of its first modular carbon capture plant at Twence's waste-to-energy facility. This advancement reinforces the Company’s focus on scaling its carbon capture capabilities across Europe.
Currently, SLB Capturi is leading multiple significant carbon capture projects in Europe, including the Kalundborg project in Denmark. This project will utilize five Just Catch systems by Ørsted designed to capture 500,000 tonnes of CO2 annually. It represents Denmark's first comprehensive carbon capture and storage value chain implementation, a monumental step towards sustainability.
About Aker Carbon Capture ASA
Since its establishment as a separate entity in 2020, Aker Carbon Capture ASA has leveraged over two decades of expertise in carbon capture technology. The partnership with SLB, which was formalized in June 2024, has positioned SLB Capturi for substantial growth, with SLB holding 80% and Aker Carbon Capture owning the remaining 20% of the joint venture.
This collaborative endeavor focuses on creating sustainable industrial solutions that address climate change and reduce carbon emissions.
Frequently Asked Questions
What are the financial highlights from Aker Carbon Capture's Q4 2024 results?
Aker Carbon Capture ended the fourth quarter of 2024 with NOK 4.6 billion in cash, NOK 5.5 billion in equity, and a net profit of NOK 21 million.
What dividend has been proposed by Aker Carbon Capture?
The Board of Directors has proposed an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion.
Where is the world's first full-scale carbon capture facility located?
The facility is located at the Heidelberg Materials Brevik plant, completed by SLB Capturi.
Which companies are involved in the SLB Capturi joint venture?
The SLB Capturi joint venture is between Aker Carbon Capture ASA and SLB, combining their strengths to innovate in carbon capture technology.
What is the objective of SLB Capturi's current projects?
SLB Capturi is focused on deploying carbon capture solutions across various European sites, contributing to significant reductions in CO2 emissions.
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