PRESS RELEASE : Aqualung and Victrol exploring integrated carbon capture and transport solution
31 May 2022, 11:41
PRESS RELEASE
Aqualung and Victrol jointly exploring integrated carbon capture and transportation solution
Oslo, Norway & Antwerp, Belgium (31 May 2022) – Aqualung Carbon Capture AS (Aqualung), a leader in membrane carbon dioxide (CO2) capture and separation technology, and Victrol, a leader in oil & gas transportation and inland shipping, are pleased to announce their newly established partnership. In this collaboration both companies wish to explore opportunities to develop cost effective and competitive Carbon Capture Utilization & Sequestration (“CCUS”) solutions, including CCUS logistics and onboard capturing and storing of CO2. This collaborative offering will enable industrial emitters of CO2 in mainland Europe, and elsewhere, to cost effectively decarbonize their assets through an integrated supply chain.
Victrol is already a strategic player in the CO2 transportation space as they are providing a CO2 barging solution, enabling inland European emitters to transport their captured CO2 over inland and coastal waterways as of 2025. Aqualung and Victrol aim to demonstrate the feasibility of a fully decarbonized CO2-logistics chain through the addition of onboard CO2-capture.
This integrated approach will unlock a significant number of hard-to-abate emitters who are searching for the right form of capture and transportation. Aqualung and Victrol are focused on a wide range of CO2-volume markets including cement, steel, waste management, refining & petrochemicals, natural gas and transportation sectors.
Henrik Utvik, President & CTO at Aqualung, says: “Capturing the CO2 at the industrial plants is only one part of the solution. The partnership with Victrol represents a crucial step in the direction of delivering a robust and cost-effective decarbonization service by providing our customers with a one-stop solution for their assets.”
Frederik Selhorst, Business Development Manager at Victrol, says: “With this new partnership, we take CCUS infrastructure to the next step: not only will we offer efficient transport solutions for the industries. We will also be able to avoid CO2 shipping emissions by integrating the Aqualung technology on board of our ships, as we are convinced that the logistic & shipping industry should have the same objectives as shore-based industries when it comes to climate mitigation.”