Norske Skog partnering with Ocean GeoLoop to become carbon net negative

Norske Skog has expanded its partnership with Ocean GeoLoop to support development, testing and commercialisation of their highly promising Carbon Capture, Storage and Utilisation (CCS/CCU) technologies. Through this partnership, Norske Skog aims to pursue the opportunity to become CO2 net negative, and to explore economically viable models for utilisation of biogenic CO2.

“The green shift has been a key priority at Norske Skog for several years. In Norway in 2020, our fossil CO2 emissions were just above 15,000 tonnes out of Norway’s total of approximately 50 million tonnes. The reduction of fossil CO2 emissions has with significant success been incentivised by Governments and international organisations, but limited attention has been given to biogenic CO2 emissions. As Norske Skog is approaching zero fossil CO2 emissions in Norway, we will start to explore economically viable opportunities for utilisation of biogenic CO2. Through the partnership with Ocean GeoLoop, we aim to support development, testing and commercialisation of their CCS/CCU technologies, and to collaborate on identifying valuable utilisation opportunities. Over time, the ambition is to make it financially sound to become CO2 net negative,” says Norske Skog’s CEO Sven Ombudstvedt.

Ocean GeoLoop has built on decades of research when developing its portfolio of disruptive CCS/CCU technologies. On basis of promising results from lab experiments and construction of a prototype over the last months, the company is now in the process of establishing industrial scale pilots in connection with the Norske Skog Skogn industrial site, Fiborgtangen.

Today, most regulatory frameworks mostly reward reductions in fossil CO2 emissions. Through collaboration with Ocean GeoLoop at Norske Skog Skogn and Borg CO2 at Norske Skog Saugbrugs, Norske Skog aims to support the work to develop economically viable utilisation models for biogenic CO2 (i.e. CO2 emissions from carbon in biomass and that are considered part of the circular system, in contrast to fossil fuels).

Norske Skog Skogn will also participate as industrial partner to Ocean GeoLoop in a recently submitted Green Platform grant application. If approved, the initiatives outlined under the Green Platform will include further development, testing and commercialisation of the CCS/CCU technologies.
more at: https://www.norskeskog.com/Investors/Press-releases/English-press-releases/Partnering-with-Ocean-GeoLoop-to-become-carbon-net-negative?PID=4241&M=NewsV2&Action=1

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