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16 min ago 2 min read
Danish cement producer Aalborg Portland has signed a deal with the Danish Energy Agency to receive a carbon capture subsidy of around €117 ($135) per tonne of CO2 captured for up to 1.25 million tonnes of CO2 annually from 2030.
The subsidy provides the financial catalyst to the Accsion carbon capture and storage (CCS) project, which is spearheaded by Aalborg Portland (part of Cementir Holding) in partnership with Air Liquide.
It is worth up to around €146m ($169m) per year over 15 years, for a maximum cumulative amount of around €2.2bn ($2.5bn), to be indexed to inflation.
When commissioned, the project – first reported by gasworld in – is expected to deliver almost half of the Danish Fund’s overall target of capturing 2.3 million tonnes of CO2 annually. It is positioned as one of the first full onshore CCS value chains in Europe.
The industrial gas major’s Cryocap cryogenic technology enables high-purity CO₂ capture from cement grey and white kiln emissions.
Francesco Caltagirone Jr., Chairman and CEO of Cementir Holding, said, “With this agreement, we can now take a decisive step towards finalising one of the largest industrial carbon capture projects in Europe.”
Carbon capture could by 75% by 2035, helping keep major UK infrastructure projects within legally binding carbon budgets, according to recent analysis from the Mineral Products Association (MPA).
The trade body warned that delays to carbon capture projects risk constraining the delivery of housing, transport, energy and digital infrastructure, while increasing the UK’s dependence on imported cement with higher carbon intensity.
