Aker Carbon Capture announced a new partnership with UK’s leading waste management and recycling company Viridor. The deal would explore the installation of five modular carbon capture plants at five Viridor waste-to-energy sites across the UK that would reduce the current emissions at these facilities by up to 90%.
The partnership with Aker Carbon Capture, would also help Viridor accelerate its plan to become net zero by 2030 instead of 2040 as previously expected. The company has an ambition to be the first net zero waste company by bringing forward carbon capture utilization and storage (CCUS) alongside plastics extraction and increased recycling.
If the carbon capture installations on the five waste-to-energy sites are carried out, along with another two planned bespoke CCUS plants, the projects would deliver about 1.5 million metric tons of CO2 savings a year. They will also create around 1,000 construction jobs and up to 180 skilled green jobs in Scotland, Wales and the English regions.
“We are delighted to partner with Viridor on projects that could realize major emissions reductions in a hard to abate sector like waste-to-energy by 2030,” said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture.
Aker’s modular carbon capture plants are designed for fast delivery and easy hook-up, according to the CEO.The technology could be deployed within fifteen months so emissions reductions are realized almost right away.
The partnership with Viridor is one of Aker’s many recent initiatives to speed up its growth. Aker carbon capture stock (OTCMKTS: AKCCF) is also 6,46% higher over the last five days at $3.54 right now. Any deals that help the company deploy its technology, increase revenue and collaborate on future opportunities are seen as a boost to its share price.