Completion of transaction to combine carbon capture business with SLB, changes to executive management
OSLO, June 14, 2024—Reference is made to the announcement made by Aker Carbon Capture ASA (“ACC ASA” or the “Company”) today regarding closing of the previously announced joint venture with SLB, which includes the sale by ACC ASA of 80% of its shares in Aker Carbon Capture Holding AS (“ACCH”) to a subsidiary of SLB. ACC ASA will maintain ownership of the remaining 20% of the shares in ACCH.
As a result of the transaction, there will be changes in the Company’s executive management. Egil A. Fagerland will step down from his current position as CEO, to take on the role as CEO of the joint venture. Valborg Lundegaard has been appointed new CEO for the Company. Lundegaard, who held the position as CEO of the Company from 2020 to 2023, enters the position from the role as senior advisor to the Company. She has extensive experience from the CCUS industry and Aker. The Company has appointed Idun Heier as new CFO.
The employee representatives on the Company’s Board of Directors will also step down as a result of the transaction. The Company’s board of directors will hereinafter comprise of the following shareholder elected board members:
- Kristian Monsen Røkke (Chair)
- Oscar Fredrik Graff
- Liv Monica Bargem Stubholt
- Karl Erik Kjelstad (Deputy)
Following completion of the transaction, ACC ASA will continue to further develop ACCH’s business together with SLB. The Board of Directors of ACC ASA is in the process of defining the future strategy and structure of the Company, including framework for use of proceeds.
ENDS
Media contact:
Mats Ektvedt, mob: +47 414 23 328 , email: mats.ektvedt@corpcom.no
Investor contact:
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com
Aker Carbon Capture ASA was established as a separate entity in 2020, building on more than 20 years of experience and validation of its proprietary carbon capture technology within Aker. Since 2020, the company has positioned itself firmly as a market leader for the deployment of industrial decarbonization. In June 2024, a Joint Venture was created between SLB and Aker Carbon Capture, with SLB owning 80% and Aker Carbon Capture ASA owning 20% of the combined company. The Joint Venture is built on a partnership between two strong companies with a proven track record of building industrial technology businesses with the resources to scale for substantial growth.
Visit akercarboncaptureasa.com. This press release may include forward-looking information or statements and is subject to our disclaimer, see akercarboncaptureasa.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
