Capsol Technologies – a Norway-based carbon capture developer and Storegga – an independent, UK-based decarbonization development business, have signed a Memorandum of Understanding (MoU) to collaborate for large-scale carbon capture and storage opportunities.
The companies plan to identify, pursue and develop large-scale CO2 capture, transportation, and permanent storage on a mutually beneficial and non-exclusive basis. Capsol will leverage its expertise and engineering capabilities within Hot Potassium Carbonate (HPC) carbon capture technology, and Storegga possesses competency and experience in CO2 transportation and permanent storage. That completes the whole value chain of CCS projects.
The companies aim to provide Carbon Capture as-a-Service (CCaaS) offering. Such a service offers a one-stop-shop solution that handles the entire value chain of carbon capture and storage and the clients pays per tonne of CO2 captured from their facility. By offering CCaaS, industries avoid the upfront investments related to the development of the projects.
“This agreement with Storegga underlines the commitment of Capsol Technologies 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.
Storegga provides geological storage of CO2 and hydrogen services. It is involves in industrial scale CCS projects such as the Acorn CCS and the Trudvang CCS in Norway. Capsol is a technology innovator in the carbon capture scene. Using the solvent Hot Potassium Carbonate as a way of capturing the CO2 from gases, it is focused on improving the energy efficiency in the whole carbon capture process, thus reducing the cost per ton of capture dramatically.