Carbon Centric and Fidelis New Energy Enter into Letter of Intent for Onshore CO2 Storage

Carbon Centric AS (“Carbon Centric”) and Fidelis New Energy Europe ApS (“Fidelis”) have signed a letter of intent to safely and permanently store CO2 emissions of Carbon Centric’s clients’, utilizing Fidelis’ recently announced Norne Carbon Storage Hub (“Norne”) in Denmark. This agreement is a milestone accomplishment for the decarbonization of smaller and medium sized biogenic and hard-to-abate emitters in Northern Europe. This agreement ensures that companies aspiring to be front runners in carbon capture and storage (“CCS”) can store captured CO2 by 2027.

Carbon Centric plans to initiate installations of capture equipment on its customers’ facilities in 2024 and is expected to store at least 800,000 tons of CO2 annually with Norne by 2027. The CO2 from Carbon Centric will be transported to Fidelis’ CO2 reception facility at the Port of Aalborg. Carbon Centric has long been a leader in carbon management with capture projects already underway in Norway and Iceland and prospective capture projects in Denmark and Sweden.

On May 15th 2023, Fidelis announced the Norne Carbon Storage Hub, an onshore CO2 storage network in Denmark. Norne provides CO2 emitters the option to access a safe and cost-effective decarbonization solution designed to help Denmark achieve its ambitious 2030 and 2050 climate goals. Norne is scheduled to commence CO2 storage operations in 2027 for Carbon Centric and aims to store more than 20 million tonnes per year by 2030. Carbon Centric joins a growing list of Norne customers seeking carbon storage that is safe, ESG-friendly, and economically advantaged.

Courtesy of Fidelis New Energy, LLC, and Carbon Centric AS.

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