SLB and Aker Carbon Capture joint venture awarded FEED contract by CO280 for large-scale carbon removal project
01 Agosto 2024 - 6:56AM
Business Wire
Carbon capture project aims to remove 800,000 tonnes of
carbon emissions at a pulp and paper mill on the U.S. Gulf
Coast
Regulatory News:
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The SLB and Aker Carbon Capture joint venture (SLB-ACC JV) today
announced a contract award by its partner CO280 Solutions for front
end engineering and design (FEED) of a large-scale carbon capture
plant at a pulp and paper mill on the U.S. Gulf Coast. The project,
which aims to remove 800,000 tonnes of carbon emissions annually,
will also deliver permanent, verifiable and affordable carbon
dioxide removals (CDRs).
North America’s pulp and paper industry represents a carbon
removal opportunity of up to 130 million tonnes per year. By
capturing and storing these emissions permanently, the industrial
activity achieves negative emissions as more carbon dioxide is
removed from the atmosphere than is being emitted from the
process.
“This contract represents a key milestone in our partnership
with CO280 to deliver large-scale carbon capture solutions for the
North American industry,” said Egil A. Fagerland, chief executive
officer, SLB-ACC JV. “We look forward to continuing our
collaboration with CO280 and their pulp and paper partner to
prepare for a full-scale carbon capture plant through the
FEED.”
The concept design for the FEED of the carbon capture plant is
based on the SLB-ACC JV’s modularized Just Catch™ 400, a
standardized and modular technology that enables the
pre-fabrication of carbon capture units. The JV is already
delivering both Just Catch™ and Big Catch™ solutions to several
industrial sites in the bioenergy, cement and waste-to-energy
sectors.
“Partnerships are the key to removing megatons of carbon before
2030: We are proud of the partnerships we have established in both
the pulp and paper industry and CDR markets and of our
collaboration with the SLB-ACC JV as a key technology partner,”
said Jonathan Rhone, chief executive officer, CO280. “By capturing
and permanently storing biogenic CO2 at mills, we can unlock a vast
carbon removal opportunity in the pulp and paper industry and scale
up the CDR market.”
This contract follows recent announcements by the SLB-ACC JV and
CO280 on their collaboration to develop large-scale CDR projects in
the United States and Canada pulp and paper industries and their
collaboration with Microsoft to scale the full value chain of
carbon removal in the United States and Canada by capturing and
permanently sequestering biogenic CO2 at pulp and paper mills.
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day on innovating oil and gas,
delivering digital at scale, decarbonizing industries, and
developing and scaling new energy systems that accelerate the
energy transition. Find out more at slb.com.
About SLB and Aker Carbon Capture Joint Venture
SLB and Aker Carbon Capture Joint Venture is dedicated to carbon
removal and reduction solutions. The company’s proven modular
technologies enable industries to deploy capture technology at
speed and scale, meeting the requirements of tomorrow and the
opportunities of today. The company is currently delivering seven
carbon capture plants to bioenergy, waste to energy, and cement
facilities. Visit the SLB-ACC JV website.
About CO280
CO280 Solutions Inc. is a developer of large-scale carbon
removal projects. In partnership with pulp and paper companies, we
develop, finance, own, and operate carbon removal projects that
deliver a new standard of permanent, verifiable, and affordable CDR
credits to customers in the voluntary carbon market. Learn more at
co280.com.
Cautionary Statement Regarding Forward-Looking
Statements:
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws — that is,
statements about the future, not about past events. Such statements
often contain words such as “expect,” “may,” “can,” “estimate,”
“intend,” “anticipate,” “will,” “potential,” “projected" and other
similar words. Forward-looking statements address matters that are,
to varying degrees, uncertain, such as forecasts or expectations
regarding the deployment of, or anticipated benefits of, SLB’s new
technologies and partnerships; statements about goals, plans and
projections with respect to sustainability and environmental
matters; forecasts or expectations regarding energy transition and
global climate change; and improvements in operating procedures and
technology. These statements are subject to risks and
uncertainties, including, but not limited to, the inability to
achieve net-negative carbon emissions goals; the inability to
recognize intended benefits of SLB’s strategies, initiatives or
partnerships; legislative and regulatory initiatives addressing
environmental concerns, including initiatives addressing the impact
of global climate change; the timing or receipt of regulatory
approvals and permits; and other risks and uncertainties detailed
in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or
furnished to the U.S. Securities and Exchange Commission. If one or
more of these or other risks or uncertainties materialize (or the
consequences of such a development changes), or should underlying
assumptions prove incorrect, actual outcomes may vary materially
from those reflected in our forward-looking statements. The
forward-looking statements speak only as of the date of this press
release, and SLB disclaims any intention or obligation to update
publicly or revise such statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240731945651/en/
Media Moira Duff – Director of External Communications
SLB Tel: +1 (713) 375-3407 media@slb.com Hanne Rolén – Head of
Communication and Sustainability SLB-ACC JV Tel: +47 990 02 571
hanne.rolen@akercarboncapture.com Investors James R.
McDonald – SVP of Investor Relations & Industry Affairs Joy V.
Domingo – Director of Investor Relations SLB Tel: +1 (713) 375-3535
investor-relations@slb.com
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