PLAGAZI AB (PUBL) AND CARBFIX OHS SIGNS LETTER OF INTENT (“LOI”) FOR FIVE EUROPEAN PROJECTS, SOLUTION FOR 100% CO2 OFFTAKE OF LIQUID CARBON DIOXIDE (“CO2”) STORAGE.
Plagazi AB (publ) (“Plagazi” or the “Company”) has signed an LOI together with Carbfix for CO2 transport and storage at Coda Terminal. The LOI has been signed for five (5) ongoing European projects, one of which is Köping Hydrogen Park, Plagazi’s largest project, and covers the full amount of liquid CO2 produced. Carbfix and its collaboration partners provide a much-needed CO2 transport and storage service to accelerate the deployment of de-carbonizing technologies, such as carbon capture storage (“CCS”), in Europe based on established, low-risk solutions.
Carbfix specializes in CCS and uses a unique technology that will rely on a network of shallow wells to inject water-dissolved CO2 for rapid subsurface mineralization in an environmentally sustainable way. The Coda Terminal, managed by Carbfix, will be a highly scalable onshore carbon mineral storage hub in located in Straumsvik, Iceland and offer a combined transport (conducted by DanUnityCo2) and storage service for facilities. The storage site has an estimated net storage potential of at least 200 MtCO2 and a target injection capacity of 3 Mt/yr by 2031.
Partnerships with various H2 and CO2 offtakers are important steps in commercializing Plagazi’s project portfolio. The signing of a large-scale and Europe-wide collaboration with an offtaker such as Carbfix presents a long-term solution for Plagazi’s customer projects. Collaborating with Carbfix and its CCS technology also brings Plagazi one step closer to achieving its net-negative CO2 emissions in its process, and further strengthens the company’s claim as a truly renewable, circular and emission reductive solution.
“Carbfix and its collaboration partners have a truly remarkable technique for CCS which will help reduce global emissions and set the pace for future CCS operations which the company wants to support and develop further. For Plagazi, this LOI is highly important since the company has now identified an offtaker for the entire volume of liquified CO2 produced from five of our European projects, and discussions for other projects are ongoing. The LOI with Carbfix is a huge enabler and step in the right direction in the commercialization process of our European projects.” - Torsten Granberg, CEO Plagazi AB (publ)
For further information, please contact:
Torsten Granberg, CEO, Plagazi AB
Email: torsten.granberg@plagazi.com
Phone: +46 70 676 12 34
About Plagazi:
Plagazi AB is a Swedish clean-tech company which is revolutionizing the production of green hydrogen. Plagazi helps society close the circular loop by transforming waste into green hydrogen through plasma gasification, contributing to resolve the significant global issue of non-recyclable waste, renewable energy sources and carbon emissions. With multiple active projects across Europe, the company aims to become the answer to the continents strive to reach its climate goals.
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