Capsol Technologies ASA, a carbon capture technology provider, and Storegga Limited (Storegga), an independent, UK-based decarbonisation development business, have signed a Memorandum of Understanding (MoU) outlining collaboration for opportunities in commercial development of large-scale CO2 capture, transportation, and permanent storage.
Capsol and Storegga will on a mutually beneficial and non-exclusive basis identify, pursue, and develop large-scale CO2 value chain projects, leveraging Capsol’s expertise and engineering capabilities within Hot Potassium Carbonate (HPC) carbon capture technology, and Storegga’s competency and experience in CO2 transportation and permanent storage, with the goal of providing Carbon Capture as-a-Service (CCaaS).
By offering CCaaS, industries avoid the upfront investments and can instead opt for a one-stop shop solution that handles the entire value chain, where they pay per tonne of CO2 captured from their facility.
Storegga provides end-to-end, integrated, carbon capture and storage (CCS) and hydrogen services for CO2 emitters utilising net zero infrastructure in the UK, US, Norway and internationally, including the Acorn CCS and Hydrogen project in Scotland and Trudvang CCS in Norway with a potential to inject approximately 225 million tonnes of CO2 over a period of 25-30 years.
Capsol is a technology licensor of an energy-efficient, cost-effective, safe, and flexible HPC carbon capture process to many different emitters within cement, biomass, energy-from-waste (EfW), chemical and power industries.
“This agreement with Storegga underlines Capsol’s commitment to develop the carbon capture market, paving the way towards net zero. The collaboration will facilitate the development of a full value chain approach to carbon capture, transportation and storage for different emitters and partners. As a leading provider of energy-efficient and safe carbon capture technologies to large-scale emitters, we see the need for deeper collaboration across all segments to make carbon capture, utilisation, and storage economical for more emitters, and to accelerate the deployment of CO2 removal measures to reach our climate mitigation goals,” said Jan Kielland, CEO of Capsol Technologies.