SLB and Aker Carbon Seize ASA (ACC ASA) have closed their beforehand introduced three way partnership, which incorporates the sale by ACC ASA of 80 p.c of its shares in Aker Carbon Seize Holding AS (ACCH) to a subsidiary of SLB.
ACC ASA will keep possession of the remaining 20 p.c of the shares in ACCH, it mentioned in a information launch. SLB owns 80 p.c of the brand new firm, which shall be headquartered in Oslo.
The brand new firm combines expertise portfolios, experience and operations platforms to assist accelerated carbon seize adoption for industrial decarbonization at scale, SLB mentioned in a separate information launch.
The brand new firm will mix ACC ASA’s amine-based Superior Carbon Seize applied sciences, together with Simply Catch and Huge Catch modular plant applied sciences for medium- and large-scale amenities, and Simply Catch Offshore for offshore fuel generators, with SLB’s portfolio of expertise options, together with non-aqueous solvent and rising sorbent-based choices. The corporate at present has seven expertise installations in progress which have the capability to seize as much as 1 million metric tons of carbon dioxide emissions per 12 months.
“There isn’t any credible pathway towards internet zero with out deploying carbon seize and sequestration (CCS) at scale,” Gavin Rennick, president of SLB’s New Vitality enterprise, mentioned within the SLB assertion. “Within the subsequent few many years, many industries which can be essential to our trendy world should quickly undertake CCS to decarbonize. By way of the three way partnership, we’re excited to speed up disruptive carbon seize applied sciences globally.”
Based on the ACC ASA assertion, Egil Fagerland will step down from his present place as the corporate’s CEO to tackle the function as CEO of the three way partnership. Valborg Lundegaard has been appointed new CEO for ACC ASA. Lundegaard, who was the CEO of the corporate from 2020 to 2023, enters the place from the function of senior advisor to the corporate. The corporate has additionally appointed Idun Heier as its new CFO.
“There isn’t any enterprise as standard within the push towards internet zero—we’ll speed up decarbonization immediately and commercialize modern applied sciences for the longer term,” Egil Fagerland, newly appointed CEO of the SLB–Aker Carbon Seize three way partnership, mentioned. “We’re happy with the carbon seize crops we’re delivering throughout numerous industries, with every buyer being an vital front-runner in its section. Profitable undertaking deliveries are paving the way in which for different emitters to comply with”.
The worker representatives on ACC ASA’s board may even step down because of the transaction. The corporate’s board of administrators shall be composed of the next shareholder elected board members: Kristian Monsen Røkke because the Chair, Oscar Fredrik Graff, Liv Monica Bargem Stubholt, and Karl Erik Kjelstad.
ACC ASA mentioned it is going to proceed to additional develop ACCH’s enterprise along with SLB. Its board is within the strategy of defining the longer term technique and construction of the corporate, together with a framework for using proceeds.
Based on an earlier report, SLB mentioned it is going to pay $381.8 million (NOK 4.12 billion) for the 80 p.c stake of Aker Carbon Seize Holding AS, which holds the enterprise of ACC ASA. Primarily based on the efficiency of the enterprise, SLB might make extra funds of $126 million (NOK 1.36 billion) over the following years, it mentioned.
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