Aker Carbon Capture welcomes UK Government CCUS Track 1 project negotiation list

LYSAKER, Norway, March 30, 2023 /PRNewswire/ -- The UK Government has selected bp's Net Zero Teesside Power and Viridor's Runcorn CCS as successful bidders in Phase 2 of the Track 1 CCUS Cluster Sequencing Process. This is part of the UK Government's funding commitment to achieve a net-zero economy. Both projects now proceed to final negotiations for governmental support.

Aker Carbon Capture is the carbon capture provider for a FEED to bp's mega-scale gas-to-power project with carbon capture. A consortium of Aker Solutions, Siemens Energy and Altrad Babcock is currently delivering an overall FEED for this project, which has a design capture capacity of up to 2 million tonnes CO2 per year. And together with Viridor, the UK's largest waste-to-energy company, Aker Carbon Capture is delivering a pre-FEED study for the Runcorn CCS project which aims to capture around 1 million tonnes CO2 per year. These major projects further support Aker Carbon Capture's leading position in the fast-growing carbon capture market in the UK and Europe. 

"Congratulations to bp and Viridor. This is an important day for CCUS in the UK. We are thrilled that these flagship projects have been selected as part of the UK Government's commitment to clean power generation and decarbonization. This will significantly advance the UK's decarbonization targets and will strengthen energy security," said David Phillips, Head of UK and Investor Relations at Aker Carbon Capture.

These announcements build on the £20 billion CCUS funding which was confirmed earlier this month in the Treasury's Spring Budget. To achieve the UK Government's ambition of capturing 20-30 million tonnes of carbon dioxide by 2030, more CCUS projects will need to come online. The UK government will launch a process later this year to enable further expansion of the Track-1 clusters, beyond the initial deployment, identifying and selecting projects for HyNet and East Coast Cluster – including the Humber – and their associated storage facilities as they become viable, to be operational by 2030. This wider deployment of CCUS will help the UK achieve its decarbonization targets, create jobs and bolster energy security.

Media contact:

Yannick Vanderveeren,
mob: +47 458 36 358,
email: yannick.vanderveeren@akercarboncapture.com

Investor contacts:

David Phillips,
mob: +44 7710 568279,
email: david.phillips@akercarboncapture.com

Christian Yggeseth,
mob: +47 915 10 000,
email: christian.yggeseth@akerhorizons.com

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