English

Aker Carbon Capture Raises NOK 840 Million to Fund Accelerated Growth

Report this content

Aker Carbon Capture has completed a capital increase of NOK 840 million to support the further growth of its market-leading carbon capture offering.

The company issued 38,181,818 new shares in a private placement, priced at NOK 22 per share. The placement was multiple times over-subscribed amidst strong demand, particularly from international investors.

“The positive response from investors enabled an effective process to strengthen Aker Carbon Capture’s financial capacity and flexibility to realize our growth ambitions,” said Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture. “We welcome several large new shareholders with a long-term perspective and a commitment toward sustainability."

In the twelve months since being launched as a separate company, Aker Carbon Capture has made significant progress in targeted markets and secured key clients and partners. The company is delivering the world’s first carbon capture plant at a cement facility, to HeidelbergCement.

The proceeds from the private placement will be used to:

  • Realize and commercialize the Carbon Capture as a Service (CCaaS) business model

  • Strengthen investments in technology and product development to be on the technological forefront to take advantage of the strong growth in prioritized markets

  • Realize investment programs, including product modularization and digitalization to drive down costs

  • Continue to develop the organization and internationalize the company

  • Strengthen the balance sheet to ensure financial capacity and flexibility to pursue growth opportunities

  • Support working capital and general corporate purposes

“Carbon capture and storage is key for the race to net zero, and Aker Carbon Capture is pioneering solutions that will make carbon capture accessible to a broader range of emitters,” said Kristian Røkke, Chief Executive Officer of Aker Horizons. “We couldn’t be more pleased with the company’s progress and the great interest demonstrated by the investor community.”

Carnegie AS, Morgan Stanley & Co. International plc and Skandinaviska Enskilda banken AB (publ) acted as joint bookrunners and managers for the transaction. Advokatfirmaet BAHR AS acted as legal advisor to the company.

ENDS

Media contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akerhorizons.com

Investor contact:
Christian Yggeseth, mob: +47 915 10 000, email: christian.yggeseth@akerhorizons.com
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com

Aker Carbon Capture is a pure-play carbon capture company with solutions, services and technologies serving a range of industries with carbon emissions, including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen segments. Aker Carbon Capture’s proprietary, carbon-capture technology offers a unique, environmentally friendly solution for removing CO2 emissions. 

Visit akercarboncapture.com and connect with us on LinkedIn, Facebook, Twitter, Instagram and YouTube. This press release may include forward-looking information or statements and is subject to our disclaimer, see akercarboncapture.com.

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Subscribe