Aker Carbon Capture ASA
OTC:AKCCF

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Aker Carbon Capture ASA
OTC:AKCCF
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Price: 0.008 USD -76.81% Market Closed
Market Cap: 4.8m USD

Aker Carbon Capture ASA
Investor Relations

Aker Carbon Capture AS operates as a holding company. The company is headquartered in Lysaker, Akershus and currently employs 71 full-time employees. The company went IPO on 2020-08-26. Its services and technologies covering the entire CCUS value chain from capture, transport, utilization through to storage of CO2 and enhanced oil recovery. The firm serves a range of industries with carbon emissions, including cement, waste-to-energy, oil and gas and steel.

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Last Earnings Call
Fiscal Period
Q1 2024
Call Date
Apr 25, 2024
AI Summary
Q1 2024

Revenue Growth: Q1 revenue reached NOK 566 million, up 97% or NOK 279 million compared to last year, driven by key projects including Ørsted Kalundborg CCS.

SLB Joint Venture: Announced a major joint venture with SLB; SLB will acquire 80% for NOK 4.12 billion, with potential payments up to NOK 5.9 billion in total.

Cash Position: Maintained a solid cash position of NOK 902 million at quarter end despite project investments.

Backlog: Backlog remains strong at NOK 2.3 billion, with NOK 1.4 billion allocated to 2024.

Strategic Review: The board is updating company strategy, including how to use proceeds from the SLB deal, with details to be provided in due course.

Brevik Project: The Brevik CCS project is progressing towards completion, targeted for the end of 2024.

New Market Expansion: Significant steps into North America with new test campaigns and a strategic alliance with CO280 and Microsoft.

Key Financials
Revenue
NOK 566 million
EBITDA before transaction and related costs
negative NOK 22 million
EBITDA (total, after transaction and related costs)
negative NOK 70 million
Net current operating assets
negative NOK 522 million
Operating assets and liabilities / net capital employed
negative NOK 257 million
Cash position
NOK 902 million
Equity
NOK 649 million
Cash outflow
NOK 210 million
CapEx
NOK 20 million
Loss before tax
NOK 68 million
Backlog
NOK 2.3 billion
Backlog (2024)
NOK 1.4 billion
Backlog (2025)
NOK 0.9 billion
Earnings Call Recording
Other Earnings Calls

Management

Ms. Valborg Lundegaard
Chief Executive Officer
No Bio Available
Mr. Erik Langholm
Chief Operating Officer
No Bio Available
Mr. Jim Stian Olsen
Chief Technology Officer
No Bio Available
Ms. Pernille Brente
General Counsel
No Bio Available
Mr. Jon Christopher Knudsen
Chief Commercial Officer
No Bio Available
Ms. Nina Westgaard
Chief of Staff
No Bio Available
Ms. Idun Heier
Chief Financial Officer
No Bio Available

Contacts

Address
AKERSHUS
Lysaker
Oksenoyveien 8
Contacts