Home / Business and Economy / Denmark Cement Giant Secures $2.55B CO2 Capture Deal
Denmark Cement Giant Secures $2.55B CO2 Capture Deal
9 Jun
Summary
- Aalborg Portland secured $2.55 billion in CO2 capture subsidies.
- Subsidies are for carbon capture and storage from 2030 onwards.
- This project is key to Denmark's ambitious greenhouse gas reduction goals.
Aalborg Portland, Denmark's top carbon dioxide emitter, has signed a major deal for 16.5 billion Danish crowns ($2.55 billion) in carbon capture and storage (CCS) subsidies. The agreement with Denmark's energy agency begins in 2030 and spans 15 years.
This CCS project is vital for Denmark's ambitious target to reduce emissions by 70% from 1990 levels. It aims to tackle emissions from hard-to-abate sectors like cement production, which traditionally accounts for about 8% of global industrial CO2.
The company expects to capture over half of the Danish CCS subsidy pool's target for annual CO2 capture. Air Liquide will supply the capture technology, while Harbour Energy will manage transport and storage.
