The board of Carbon Centric has made the final investment decision to establish the groundbreaking carbon capture plant in Rakkestad, Norway.
The decision came in the wake of the Norwegian Environment Agency granting the company its permit a few weeks back. Carbon Centric is investing in the region of NOK 100 million to establish the carbon capture plant.
The design of the flagship project in Rakkestad is already underway. Fabrication will start immediately and Carbon Centric plans to commission the plant in spring 2025.
This facility is proof that even smaller incineration plants can utilize carbon capture technology to reduce their emissions. We demonstrate that there is no reason to wait. With our innovative implementation model, we are positioning the company at the forefront of a large international market for carbon capture.
Fredrik Häger, CEO i Carbon Centric.
New investors Earlier this year, Carbon Centric raised more than NOK 120 million and thus got Vardar and Obligo on the ownership side (link). Østfold Energi is the largest owner of the company with 45 percent share and they also own the incineration plant, which will now be equipped with a carbon capture processing plant. As part of the financing, the company has also secured a substantial green loan from DNB, as well as NOK 17.2 million in support via ENOVA.
Waste incineration is a safe and environmentally good way to handle residual waste. The collaboration with Carbon Centric will make our plant even greener, by cleaning the flue gases and separating CO2. This is an important contribution to reaching our goal of major emission reductions towards 2030.
Oddmund Kroken, CEO Østfold Energi.
Reusing biogenic CO2
In the absence of available storage options, Carbon Centric will capture and sell carbon dioxide (CO2) for reuse. Permanent storage has climate benefits, but utilization could also have climate-positive effects. In general, much of the CO2 used in the world today comes from fossil sources. 50 percent of the CO2 from waste incineration comes from biogenic masses. In addition, e-fuels can be produced using recycled CO2 helping to reduce the emissions from the transport sector, which is an important strategy by the EU.
The plant in the Rakkestad project is dimensioned to capture 10,000 tonnes of CO2 per year. In the project, the company uses licensed technology from Shell, supplied by EPC supplier KANFA AS and their subcontractor Slåttland Mek Industri AS. Several other companies from the local region will contribute during the implementation. The company has entered into an agreement with Linde Gas AS for the supply of liquid CO₂ (link).
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