Ross Energy ("Ross Energy") and Fidelis New Energy, LLC ("Fidelis"), have entered into an exclusive partnership for the development, construction, and operation of onshore CO2 storage networks in Denmark and Southern Sweden. The partnership is exclusively for subsurface evaluations, reservoir characterization, testing and seismic acquisition, and carbon storage field development in the areas of interest.
Fidelis is developing the Norne Carbon Storage Hub, an onshore CO2 storage network in Denmark using the country's attractive subsurface characteristics for national and international CO2 storage. This network will provide CO2 emitting companies the opportunity to access cost-effective and safe decarbonization options and will help Denmark and other countries achieve ambitious 2030 and 2050 climate goals. The project plans to begin injecting CO2 into onshore storage structures by 2026 and targets the injection of 20 million tonnes per year or more by 2030. The Norne Carbon Storage Hub will be capable of receiving CO2 from local CO2 sources via pipeline and international CO2 sources via shipborne transport at multiple receiving facilities.
Fidelis selected Ross Energy as its sole full-service well management and subsurface development partner for Fidelis' current CO2 storage projects in Denmark as well as additional projects developed by Fidelis in Denmark and Southern Sweden. Ross Energy selected Fidelis as its exclusive carbon capture and storage ("CCS") partner for future carbon storage projects in this region. This partnership establishes a consistent project management and execution model to safely implement and optimize CO2 storage in Denmark.
"Ross Energy has consistently demonstrated an industry leading technical competence with regard to carbon storage and an unparalleled knowledge of the Danish subsurface, which matches perfectly with the Fidelis development approach for the Norne Carbon Storage Hub," said Pete Hollis, Global Head of Carbon Management for Fidelis.
Ulrik Weuder, Head of Fidelis' European office, added, "Our teams have a high level of cultural alignment and the Fidelis team is excited to continue the partnership as we further develop opportunities in Denmark, Southern Sweden, and throughout the rest of Europe."
Ross Energy has gained expertise from a variety of experiences in Denmark, Norway, Germany, Sweden, and Poland and is the only independent subsurface expert in Denmark with CCS experience. Ross Energy and its affiliated company Ross Offshore A/S ("Ross Offshore") have focused on developing solutions for the green transition for over 15 years. Ross Offshore has extensive experience in the CCS industry going back to 2008, when it was awarded the role as Owner's Engineers for Gassnova SF, which administrates the Norwegian authorities' interests in CCS.
"Ross Energy is honored to have the opportunity to work with Fidelis towards developing safe and cost competitive onshore carbon storage facilities in Denmark and southern Sweden. We are impressed by the knowledge and experience with carbon management and carbon negative power that Fidelis brings to the table from their similar projects ongoing in Louisiana. The commitment and professionalism we experience when working with the Fidelis team is an inspiration to all within Ross Energy," said Ole Nygaard, Project Director, Ross Energy.
Lars Andersen, CEO, Ross Energy, added, "Being part of the green transition and delivering on the ambitious Danish climate goals has highest priority for us. With the partnership with Fidelis, we are confident that we, together, will contribute to this Danish success story. We look forward to a long-term relationship, which has a huge potential of developing further in the years to come."