Aker Carbon Capture Plans Significant Dividend Proposal
In an exciting development, Aker Carbon Capture ASA (ACC), a part of Aker Horizons' growing portfolio, has announced a proposal for a substantial cash dividend of NOK 3.5 billion. Aker Horizons, which holds a 43.27% stake in ACC, is set to receive approximately NOK 1.5 billion from this distribution.
Strategic Moves in Carbon Capture Joint Venture
Earlier, ACC joined forces with SLB to create a joint venture termed SLB Capturi. This partnership aims to amplify their carbon capture endeavors. Post the completion of the transaction in June 2024, ACC retained a 20% ownership stake in the venture, while SLB commands the remaining 80%. Financially, this has proven advantageous for ACC, as it recorded a gain of NOK 4.9 billion in its accounts.
Future Prospects of SLB Capturi
With the capital from the proposed dividend, Aker Carbon Capture is well-positioned to maintain a robust financial foundation. This support is crucial, allowing ACC to fulfill its obligations as a minority stakeholder in SLB Capturi while also safeguarding its financial commitments from earlier projects prior to the joint venture's establishment.
Approval Process for the Dividend
The exciting news of the proposed cash dividend is still subject to approval from an extraordinary general meeting scheduled for early March. Shareholders eagerly await this decision, which will pave the way for ACC’s future growth and strategic initiatives within the carbon capture industry.
Contact Information for Stakeholders
For those looking for more details about this proposition, ACC's Investor Relations can be reached at +47 97 11 82 92. Additionally, Mats Ektvedt is available for media inquiries at +47 41 42 33 28.
Understanding Aker Horizons
Aker Horizons is committed to advancing green energy and industries focused on achieving a Net Zero future. With a strong focus on renewable energies and sustainable industrial solutions, the company plays a pivotal role in the global decarbonization movement. As a member of the Aker group, their efforts reflect a blend of industrial, technological, and capital market expertise aimed at driving positive environmental change.
Overview of Aker Carbon Capture
Founded in 2020, Aker Carbon Capture has capitalized on over two decades of experience in carbon capture technology from Aker. Their commitment lies in enhancing this technology's efficiency and deployment. With a partnership with SLB, ACC is set to play a significant role in the evolving landscape of carbon capture and sustainability.
Frequently Asked Questions
What is the proposed dividend amount from Aker Carbon Capture?
The proposed dividend amount is NOK 3.5 billion, with Aker Horizons expected to receive approximately NOK 1.5 billion due to its ownership stake.
What does the joint venture between ACC and SLB entail?
The joint venture, named SLB Capturi, focuses on enhancing the carbon capture business through collaborative efforts, with ACC holding a 20% stake.
When is the extraordinary general meeting for dividend approval?
The extraordinary general meeting for approving the dividend is expected to take place around the 7th of March.
How has the joint venture financially benefited ACC?
ACC recorded a significant gain of NOK 4.9 billion in its accounts, attributed to the transition and sale within the new joint venture structure.
What role does Aker Horizons play in sustainability?
Aker Horizons focuses on developing green energy solutions and sustainable industries, emphasizing the transition toward a Net Zero future through innovative projects and investments.
