Global tech company SLB will acquire majority ownership (80%) of Aker Carbon Capture for $379.7 million. It will combine both companies’ technology portfolios, expertise and operations platforms to support accelerated industrial decarbonization at scale.
“For [carbon capture, utilization and sequestration] to have the expected impact on supporting global net-zero ambitions, it will need to scale up 100 to 200 times in less than three decades,” said Olivier Le Peuch, chief executive officer, SLB. “Crucial to this scale-up is the ability to lower capture costs, which often represent as much as 50 to 70% of the total spend of a CCUS project. We are excited to create this business with ACC to accelerate the deployment of carbon capture technologies that will shift the economics of carbon capture across high-emitting industrial sectors.”
The new entity will leverage Aker’s commercial carbon capture product offering and SLB’s technology developments and industrialization capability. It will create a vehicle for accelerating the introduction of early-stage technology into the global market on a commercial, proven platform.
The transaction is subject to regulatory approvals and is expected to close by the end of the second quarter of 2024.
