Aker Kvaerner expands CO2 capture interests

24 January 2008 11:45  [Source: ICIS news]

LONDON (ICIS news)--Aker Kvaerner has transferred its carbon dioxide (CO2) capture technology to a separate company and will complete its first facility by 2009, the company said on Thursday.


Aker Clean Carbon, a wholly-owned subsidiary of the Norwegian firm, will also focus on developing future CO2 capture projects.


The facility, at Karsto, western Norway, will remove carbon dioxide from exhaust emissions from the gas powered plant there, it said in a statement.


Aker Kvaerner has invested an estimated Norwegian Kroner (NKr) 725m in the project, it said.


Leif-Arne Langoy, Aker ASA Chairman and CEO, said the new company would help move carbon capture from research and development phase into commercialisation.


“We see opportunities to make money by helping to solve the current climate crisis,” Langoy added.


($1 = €0.68/NKr5.53)

By: Graeme Paterson
+44 20 8652 3214

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