International Carbon Capture Projects Advance

• The installation of absorbers, desorbers, and direct contact coolers—key components for Denmark's first full-scale carbon capture and storage project, the 430,000 metric ton Ørsted Kalundborg CO2 Hub—has been successfully completed at Asnæs (280,000 tonnes) and Avedøre (150,000 tonnes) Power Plants - currently burning biomass as a fuel source to ultimately generate net negative carbon intensity power.

  • 1️⃣ Direct contact cooler: Cools the flue gas by spraying water directly into it. Removes impurities and reduces the temperature, which improves the efficiency of the carbon capture.

  • 2️⃣ Absorber: Removes carbon dioxide from the flue gas by passing it through a liquid that chemically binds the carbon dioxide. The carbon dioxide-rich liquid is then sent to the desorber for further processing.

  • 3️⃣ Desorber: Heats the carbon dioxide-rich liquid to release the carbon dioxide gas. The released carbon dioxide is collected and compressed for storage or further use.

  • So what? CO2 sourced from biomass and renewable sources is a key focus for Carbon Capture and Storage (CCS) and Carbon Dioxide Removal (CDR) markets - as well as key feedstocks for European compliant fuels. This groundbreaking project will be the first to demonstrate both the technical feasibility of carbon capture and the full CCS value chain in Europe. As a pioneering initiative, it has the potential to drive further investment in the global pulp and paper industry, as well as biomass power generation facilities.

• Egypt's largest nitrogen fertilizer company, Misr Fertilizers Production Company, selected Thyssenkrupp Uhde to implement carbon capture at the facility in Damietta, Egypt. The project will capture 140,000 mt of process CO2 emissions for utilization in Urea production. In addition to the Carbon Utilization project, MOPCO plans to build and operate a 150,000 mt green ammonia production unit for futher decarbonization.

• United Airline Ventures made an equity commitment to leading DAC company, Heirloom. As SAF affordability challenges airlines’ 2030 target, the industry is looking at a basket of decarbonization solutions - United Airline Ventures’ portfolio includes: 'White’ or natural occuring hydrogen producer Koloma, hydrogen and electric airplane OEM ZeroAvia, e-SAF producer DimensionalEnergy, Biofuel producer NXTFuels, among others. In addition to the equity commitment, UAV has a right to purchase 500,000 tons of Carbon Dioxide Removal Credits.

  • The Challenge? Customers today are not willing to pay the full price tag of converting to 100% SAF - a significant multiple on conventional jet fuel. One of the largest Airlines in the world, United Airlines emit 36,000,000 metric tons of CO2e for fuel in 2023. United’s strategy of spreading decarbonization technology bets will try to cover the bases through techno-economical breakthroughs in the coming years.

• Aramco awarded Larsen & Toubro the main EPC contract for the mega scale Jubail CCS Hub project totaling $1.5 billion. One of Saudi’s largest industrial parks, the project aims to capture 9 million tons a year with project partners Linde and SLB. It’s estimated that 6 million tons will be captured from high purity gas processing facilities while the remaining 3 million tons will be from hard-to-abate industrial complexes.

• ENI plants to accelerate its energy transition strategy by creating a stand-alone business focused on CCS and low carbon offerings to data centers. ENI has been a leader on carbon storage developments with their multi billion dollar Algeria project (Structures A&E), Bayu Undan in Timor Leste, and the planned large Hewitt project offshore United Kingdom.

• P2X Solutions partners with Fortum Power in Joensuu, Finland for co-located carbon capture and e-Fuel project. P2X was awarded EUR 60 million from Business Finland to develop e-Methanol project with a planned FID later this year. Fortum Power will capture biogenic CO2 to be used for the e-Fuel project. This project markets the 16th proposed co-located Carbon Capture and e-Fuel project in Finland that we are tracking.

• Plug Power confirmed that its 15-ton-per-day hydrogen plant in St. Gabriel, Louisiana is on track for operations in the first quarter, now in the final commissioning phase. Operated by Hidrogenii, a joint venture with Olin Corporation, the plant will use Olin’s by-product hydrogen from chlorine production. Once fully operational, the plant will add 15 TPD of liquid hydrogen, increasing Plug's total capacity to 39 TPD.

• Aramco Ventures has made a strategic investment in Chinese hydrogen electrolyzer (pressurized alkaline) OEM, Hydo Tech. Hydo Tech has project discussions ongoing with large energy companies including Shell and Sinopec. This investment coincides with a partnership between Hydo Tech and Enowa, NEOM's sustainable energy subsidiary.

• TotalEnergies has partnered with Air Liquide to develop two green hydrogen projects in the Netherlands, aiming to decarbonize hydrogen used in its European refineries. These projects will produce 45,000 tons of green hydrogen annually, using renewable power from the OranjeWind offshore wind farm, developed by TotalEnergies and RWE.

  Zeeland Refinery (2029): 50/50 Joint Venture to build a €600 million 250 MW electrolyzer to produce 30,000 tons of green hydrogen annually.

  Antwerp (2027): Planned 15,000 tons of green hydrogen annually from Air Liquide's 200 MW ELYgator electrolyzer in Maasvlakte.

• No stratigraphic wells or planned projects were permitted or identified this week

• 3 new carbon capture and e-Fuel co-developments were identified in Europe

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.