Aker Carbon Capture Selected by Viridor as Partner for Accelerating Decarbonization at Multiple Waste to Energy Sites in the UK
OSLO, Norway, Oct. 19, 2021 /PRNewswire/ -- Aker Carbon Capture and Viridor, one of the UK's leading recycling, resources and waste management companies, today announced plans to help the UK accelerate its decarbonization agenda through a partnership for next-generation modular carbon capture, utilization and storage technology (CCUS).
Viridor has an ambition to become the first net zero waste company by 2040 by bringing forward CCUS alongside plastics extraction and increased recycling. To support the delivery of CCUS, Viridor unveiled plans that could unleash up to £1bn private investment into the UK. The plans include exploring the installation of modular CCUS plants on five Viridor waste-to-energy sites across the UK. Viridor has partnered with pure-play CCUS specialist Aker Carbon Capture for the delivery of five modular plants. This partnership with Aker Carbon Capture could accelerate Viridor's net zero plans by a decade to 2030.
Aker Carbon Capture's Just Catch™ modular carbon capture plant is based on the company's proprietary and HSE-friendly carbon capture technology, which it has developed over the past two decades.
The modular carbon capture plants will allow the technology to be deployed within fifteen months of planning and permitting, reducing fossil emissions at these sites by up to 90 percent. Developing the modular CCUS plants on the five waste-to-energy sites combined with two planned bespoke CCUS plants, would deliver about 1.5 million tonnes CO2 savings a year, meeting 15 percent of the UK government's 2030 emissions reduction target. This investment would 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. "Our modular carbon capture plants are designed for fast delivery and easy hook-up, and together with our partners we see this as a great opportunity to contribute to reaching climate goals and creating green jobs in the UK."
This announcement is the latest phase of Viridor's sector-leading decarbonization plan. In May 2020 Viridor outlined a five-step action plan to net zero emissions by 2040, and the ambition to be the first net negative emissions waste and recycling company in the UK by 2045.
"Viridor stands ready to invest in developing world-leading carbon capture technology," said Kevin Bradshaw, CEO of Viridor, which is majority owned by investment company KKR. "This will support our company and sector to decarbonize, as we have committed to do. But first of a kind technology projects on this scale require genuine partnership between the public and private sectors. Government policy support for waste management facilities to participate in industrial carbon capture schemes will be vital for us to keep progressing our plans."
The partners look forward to collaborating and maturing the opportunities in the rapidly evolving market for CCUS in the UK.
"The UK has set out a globally leading ambition on CCUS and has the natural resources to make this a reality, which was instrumental in attracting Aker Carbon Capture to partner with Viridor in this market," said David Phillips, Head of UK at Aker Carbon Capture.
CONTACT:
Media contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akerhorizons.com
Investor contacts:
Christian Yggeseth, mob: +47 915 10 000, email: christian.yggeseth@akerhorizons.com
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com
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