SLB Acquires Majority Stake in Aker Carbon Capture for $380 Million
Energy services and technology company SLB announced today an agreement to acquire a majority stake in carbon capture technology company Aker Carbon Capture for $380 million, and form a new carbon capture joint venture, in a deal the companies said is aimed at supporting industrial decarbonization at scale.
Spun out of energy services company Aker Solutions in 2020, Norway-based Aker Carbon Capture (ACC) offers proprietary carbon capture technology to reduce and remove CO2 emissions from industrial plants, which can be applied to existing or new build facilities. The company’s solution uses a mixture of water and organic amine solvents to absorb CO2, which can be applied to a broad range of sectors, including gas, coal, cement, refineries, bio- and waste-to-energy and hydrogen.
According to SLB, the new agreement comes as carbon capture, utilization, and sequestration (CCUS) capacity is set up to scale significantly over the coming decades, with the International Energy Agency (IEA) anticipating that more than one gigaton of CO2 per year will be needed to support global decarbonization plans by 2030, and more than 6 gigatons by 2050.
SLB CEO Olivier Le Peuch said:
