Norway-based Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Vancouver-based CO280 Solutions to collaborate closely on the advancement of large-scale Carbon Dioxide Removal (CDR) initiatives, starting within the pulp and paper industry of the United States and Canada.
These projects aim to deliver permanent, verifiable, and cost-effective carbon removal solutions. Under this agreement, the two entities will work together as preferred partners on a project-by-project basis. Additionally, their focus will be on establishing point source carbon capture facilities for pulp and paper mills. This collaboration intends to develop a standardized CDR solution encompassing post-combustion carbon capture and compression technologies tailored for recovery boilers, power boilers, lime kilns, and other stack emissions within these facilities.
CO280 is a prominent developer of carbon dioxide removal projects, specifically in the pulp and paper sector. Collaborating with pulp and paper companies, CO280 takes charge of developing, financing, owning, and operating large-scale CDR projects.
These endeavours address a crucial need in the CDR market by offering permanent, verifiable, and economically viable CDR solutions to corporate buyers in the voluntary market. Moreover, JPMorgan Chase signed one of the most significant carbon removal agreements ever announced with CO280 in May 2023. Currently, CO280 has over 10 million tonnes per year of permanent CDR projects in various stages of development.
The pulp and paper industry in North America presents a substantial opportunity for carbon removal, with a potential of up to 130 million tonnes per year. This is primarily due to the fact that individual mills in this industry have a CO2 emissions profile that is largely biogenic, ranging from 80% to 90%.
Egil Fagerland, CEO of Aker Carbon Capture, and Jonathan Rhone, CEO of CO280, are enthusiastic about their expanded collaboration, stressing the importance of carbon capture in achieving global climate goals. They aim to deliver large-scale Carbon Dioxide Removal (CDR), as demonstrated by their joint test campaign at a prominent pulp and paper company site in the US Gulf Coast.
