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

30 Mar 2023 13:42 CEST

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 (http://tel:+47 458 36 358),
email: yannick.vanderveeren@akercarboncapture.com
Investor contacts:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
david.phillips@akercarboncapture.com
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
christian.yggeseth@akerhorizons.com

Aker Carbon Capture is a pure-play carbon capture company with solutions,
services and technologies serving a range of industries with carbon emissions,
including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen
segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a
unique, environmentally friendly solution for removing CO\2\ emissions.

Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect
with us on LinkedIn (https://www.linkedin.com/company/aker-carbon
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release may include forward-looking information or statements and is subject to
our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).

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