Aker Carbon Capture ASA: A New Dawn in Carbon Management
February 14, 2025, 5:01 am
Location: Norway, Bærum
Employees: 51-200
Founded date: 2005
Total raised: $400M
Aker Carbon Capture ASA (ACC ASA) is making waves in the carbon capture industry. The company recently reported its fourth-quarter results for 2024, showcasing a robust financial position and a promising future. With NOK 4.6 billion in cash and equity standing at NOK 5.5 billion, ACC ASA is not just surviving; it’s thriving.
The company posted a net profit of NOK 21 million for the quarter. This is a testament to its strategic decisions and operational efficiency. But the real news is the extraordinary cash dividend proposal of NOK 3.5 billion, translating to NOK 5.80 per share. This move is a clear signal of ACC ASA’s commitment to returning value to its shareholders.
The joint venture with SLB, named SLB Capturi, is a cornerstone of ACC ASA’s strategy. This partnership is a powerful alliance, combining Aker’s expertise in carbon capture with SLB’s extensive resources. Together, they have reached a significant milestone: the mechanical completion of the world’s first full-scale carbon capture facility at a cement plant in Norway. This facility, located at the Heidelberg Materials Brevik plant, is set to begin operations in 2025.
In January 2025, SLB Capturi secured an engineering, procurement, construction, installation, and commissioning (EPCIC) contract from Hafslund Celsio AS. This contract involves delivering a carbon capture solution for a waste-to-energy facility in Oslo. It’s a clear indication that SLB Capturi is gaining traction in the market.
The company is also making strides in the Netherlands. SLB Capturi has completed commissioning its first modular carbon capture plant at Twence’s waste-to-energy facility in Hengelo. This plant is a crucial step in demonstrating the viability of modular carbon capture technology.
ACC ASA is not just focused on local projects. It is involved in significant initiatives across Europe. In Denmark, for instance, five Just Catch systems are being deployed by Ørsted at two biomass-to-energy sites. These systems are designed to capture 500,000 tonnes of CO2 annually. This project marks Denmark’s first full-scale carbon capture and storage (CCS) implementation.
The financial health of ACC ASA is noteworthy. The proposed dividend is a reflection of the company’s success and growth trajectory. From a humble share price of NOK 1.70, the company has come a long way. The proposed dividend not only rewards shareholders but also underscores the company’s strong progress in the carbon capture sector.
The Board of Directors has laid out a clear path forward. They are committed to maintaining a robust balance sheet while supporting SLB Capturi’s growth. The remaining cash position after the dividend distribution will ensure that ACC ASA can fulfill its responsibilities as a minority owner in the joint venture.
The proposed dividend will be distributed in two tranches. The first payment of NOK 4.82 per share is set for March 2025, pending approval from the extraordinary general meeting. The second tranche of NOK 0.98 per share will follow in April 2025. This staggered approach allows the company to manage its cash flow effectively while still rewarding shareholders.
The proposed capital reduction of approximately 98% aligns with the company’s current operations. It also safeguards the dividend as a repayment of paid-in capital for tax purposes. This strategic move reflects ACC ASA’s commitment to responsible financial management.
The future looks bright for Aker Carbon Capture ASA. The company is positioned as a leader in carbon capture technology. Its joint venture with SLB is set to propel it further into the spotlight. As global awareness of climate change grows, the demand for effective carbon capture solutions will only increase.
ACC ASA is not just a player in the market; it’s a pioneer. The company’s innovative approach and strategic partnerships are paving the way for a sustainable future. With projects spanning multiple countries and a strong financial foundation, ACC ASA is ready to tackle the challenges of carbon management head-on.
In conclusion, Aker Carbon Capture ASA is at a pivotal moment. The proposed dividend is a celebration of its achievements and a promise of more to come. As the world shifts towards sustainability, ACC ASA is poised to lead the charge in carbon capture technology. The journey is just beginning, and the horizon is filled with potential.
The company posted a net profit of NOK 21 million for the quarter. This is a testament to its strategic decisions and operational efficiency. But the real news is the extraordinary cash dividend proposal of NOK 3.5 billion, translating to NOK 5.80 per share. This move is a clear signal of ACC ASA’s commitment to returning value to its shareholders.
The joint venture with SLB, named SLB Capturi, is a cornerstone of ACC ASA’s strategy. This partnership is a powerful alliance, combining Aker’s expertise in carbon capture with SLB’s extensive resources. Together, they have reached a significant milestone: the mechanical completion of the world’s first full-scale carbon capture facility at a cement plant in Norway. This facility, located at the Heidelberg Materials Brevik plant, is set to begin operations in 2025.
In January 2025, SLB Capturi secured an engineering, procurement, construction, installation, and commissioning (EPCIC) contract from Hafslund Celsio AS. This contract involves delivering a carbon capture solution for a waste-to-energy facility in Oslo. It’s a clear indication that SLB Capturi is gaining traction in the market.
The company is also making strides in the Netherlands. SLB Capturi has completed commissioning its first modular carbon capture plant at Twence’s waste-to-energy facility in Hengelo. This plant is a crucial step in demonstrating the viability of modular carbon capture technology.
ACC ASA is not just focused on local projects. It is involved in significant initiatives across Europe. In Denmark, for instance, five Just Catch systems are being deployed by Ørsted at two biomass-to-energy sites. These systems are designed to capture 500,000 tonnes of CO2 annually. This project marks Denmark’s first full-scale carbon capture and storage (CCS) implementation.
The financial health of ACC ASA is noteworthy. The proposed dividend is a reflection of the company’s success and growth trajectory. From a humble share price of NOK 1.70, the company has come a long way. The proposed dividend not only rewards shareholders but also underscores the company’s strong progress in the carbon capture sector.
The Board of Directors has laid out a clear path forward. They are committed to maintaining a robust balance sheet while supporting SLB Capturi’s growth. The remaining cash position after the dividend distribution will ensure that ACC ASA can fulfill its responsibilities as a minority owner in the joint venture.
The proposed dividend will be distributed in two tranches. The first payment of NOK 4.82 per share is set for March 2025, pending approval from the extraordinary general meeting. The second tranche of NOK 0.98 per share will follow in April 2025. This staggered approach allows the company to manage its cash flow effectively while still rewarding shareholders.
The proposed capital reduction of approximately 98% aligns with the company’s current operations. It also safeguards the dividend as a repayment of paid-in capital for tax purposes. This strategic move reflects ACC ASA’s commitment to responsible financial management.
The future looks bright for Aker Carbon Capture ASA. The company is positioned as a leader in carbon capture technology. Its joint venture with SLB is set to propel it further into the spotlight. As global awareness of climate change grows, the demand for effective carbon capture solutions will only increase.
ACC ASA is not just a player in the market; it’s a pioneer. The company’s innovative approach and strategic partnerships are paving the way for a sustainable future. With projects spanning multiple countries and a strong financial foundation, ACC ASA is ready to tackle the challenges of carbon management head-on.
In conclusion, Aker Carbon Capture ASA is at a pivotal moment. The proposed dividend is a celebration of its achievements and a promise of more to come. As the world shifts towards sustainability, ACC ASA is poised to lead the charge in carbon capture technology. The journey is just beginning, and the horizon is filled with potential.