Aker Carbon Capture ASA
OTC:AKCCF
Aker Carbon Capture ASA
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.
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.
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.
