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Aker Carbon Capture ASA: Third quarter 2024 results

FORNEBU, Norway, Oct. 31, 2024 /PRNewswire/ -- Aker Carbon Capture ASA ("ACC ASA") closed the third quarter 2024 with NOK 4.5 billion in cash and a solid equity position at NOK 5.5 billion.

"Through our 20% ownership stake in the joint venture with SLB, which holds the remaining 80%, we will continue to scale and commercialize the carbon capture business. We are advancing carbon capture as a viable path to net zero for the customers and society at large," said Valborg Lundegaard, CEO of Aker Carbon Capture ASA.

The Board of Directors of ACC ASA continues the process of determining the future strategy and structure of the company, including the framework and conclusions for the use of the proceeds from the transaction with SLB. As part of this process, the Board is also assessing the role and responsibilities of ACC ASA as seller in the recent transaction with SLB and as a 20% owner in SLB Capturi, including ACC ASA's remaining pro-rata guarantee exposure for ongoing projects. The board will also consider future needs in ACC ASA for its operations, investment opportunities, and in relation to SLB Capturi.

The conclusion of the Board of Directors' assessment will be communicated at the latest within the first quarter of 2025.

SLB ...