SLB (NYSE: SLB) and Aker Carbon Capture (ACC) announced the closing of their joint venture. This new company merges their technology portfolios and expertise to accelerate large-scale industrial carbon capture adoption.
“Achieving net zero requires deploying carbon capture and sequestration (CCS) at scale,” said Gavin Rennick, president of SLB’s New Energy business. “Industries essential to our modern world must rapidly adopt CCS to decarbonize. Our joint venture will help accelerate disruptive carbon capture technologies globally.”
The joint venture combines ACC’s Advanced Carbon Capture™ technologies, including Just Catch™ and Big Catch™ for medium- and large-scale facilities, and Just Catch Offshore™ for offshore gas turbines, with SLB’s non-aqueous solvent and emerging sorbent-based solutions. The company currently has seven installations capable of capturing up to 1 million tonnes of CO2 annually.
“There is no business as usual in the push toward net zero—we will accelerate decarbonization today and commercialize innovative technologies for the future,” said Egil Fagerland, CEO of the joint venture. “We are proud of the carbon capture plants we are delivering across various industries, each setting a precedent for others to follow.”
The new company is headquartered in Oslo, with SLB owning 80% and ACC ASA owning 20%.
