Dutch pension asset manager PGGM has acquired a 49% stake in Carbon Collectors, a Netherlands-based firm specializing in the full carbon capture value chain, from point source capture, to transportation and sequestration. The investment was made on behalf of Pension Fund Zorg en Welzijn (PFZW), though financial terms were not disclosed.
At the end of 2024 PGGM managed €261 billion ($272 billion) in assets across multiple pension funds, with PFZW accounting for around 99% of them. As part of the agreement, PGGM has also secured the exclusive right to invest up to €200 million ($209 million) in equity. These funds will be allocated to infrastructure projects designed to collect, transport, and inject CO2 into permanent geological storage sites, such as depleted offshore gas fields.
PGGM and Carbon Collectors deal hints at carbon capture growth
Groningen-based Carbon Collectors is focused on hard-to-abate industries where electrification cannot fully achieve decarbonization. Examples of this are steel and cement production, waste management, recycling, and the pulp and paper sectors, with most of them present in the country, as well as Europe’s industrial heartland in neighbouring countries like Belgium and Germany’s Ruhr region.
Carbon Collector’s aim to have the full CCS process up and running before 2030 when the infrastructure for transporting CO2 captured from industrial sites and transporting via specialized vessels to offshore locations. The company has stated that its long-term goal is to store 6 million tonnes of CO2 annually.
Ludo van Hijfte, CEO of Carbon Collectors stated: “This investment will enable Carbon Collectors to complete the design of vessels and other required infrastructure and to accelerate ongoing feasibility studies with industrial clients and CO2 storage partners. With PFZW’s financial support and Carbon Collectors’ expertise, the first projects can be operational within three years of an investment decision. Our flexible CO2 transport and storage approach will aid both large and smaller companies, including those outside industrial clusters, in responsibly reducing their CO2 emissions. This will allow us to accelerate the reduction of CO2 emissions while maintaining key industries for the Netherlands and Europe.”
The move follows the approval of several carbon storage projects in and connected to the Netherlands. The country’s largest project Porthos received approval from the Dutch Council of State in August 2023 and in November 2024 the country signed an agreement with Norway to explore transport projects for hydrogen and CO2.
Asset managers looking into carbon management
The deal signals more interest from larger asset managers in carbon-related investments. Back in October 2024 Aviva Investors launched a carbon removal fund that focuses on both natural and technology-driven climate solutions.
The fund’s initial capital was provided by Aviva Investors, supplemented by contributions from its investment, wealth, and retirement divisions.
According to Aviva Investors, the fund is designed to attract large institutional investors—including corporations, pension funds, insurers, and public-sector pension schemes—to finance projects in areas such as commercial forestry, afforestation, and reforestation on peatlands and mangroves. Additionally, it will support venture-backed nature technology initiatives and advanced CO2 removal techniques, such as enhanced rock weathering (ERW) and soil carbon sequestration.
Read more: Norway And The Netherlands To Explore Hydrogen And CO2 Transportation
