SigmaRoc to install carbon capture facility
22 November 2022
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
( ' SigmaRoc ', the 'Group')
SigmaRoc to install carbon capture facility
SigmaRoc plc is pleased to announce that it will install its first carbon capture facility in Q1 2023 with the aim to capture all kiln process emissions by 2030, well ahead of its 2040 Net-Zero targets.
Highlights:
· The Group has entered into an agreement with Aqualung Carbon Capture AS ('Aqualung') a leading membrane carbon capture and separation technology provider;
· SigmaRoc and Aqualung will construct Europe's first industrial scale facility of its type at Nordkalk in Q1 2023;
· Each shipping container sized unit will be capable of capturing up to 25% of one of Nordkalk's typical kiln's process emissions, using Aqualung's simple and low energy intensive technology;
· Once installed, a full roll-out plan will be finalised to equip all operating Group kilns with the technology before 2030;
· As a result, the Group can now commit to setting near-term company-wide emission reductions in line with climate science with the SBTi.
Aqualung Partnership
SigmaRoc and Aqualung have signed an agreement that will allow for the installation of a carbon capture membrane technology solution across all its operational kilns following initial installation at one kiln. The technology is modular, tested and scalable, allowing for a phased and systematic roll-out across the Group's operations. In parallel, the parties will work on the entire carbon chain that includes the capture, sequestration and alternative uses or commercialisation of the captured CO2. The Group thereby estimates that it will be able to significantly bring forward its Net-Zero targets once full roll-out has commenced.
Technology
Lime kiln emissions are typically cleaner than other industrial applications and are more suitable to carbon capture, especially with regards to footprint and sizing. Aqualung's solution uses a compact patented membrane technology which can be scaled by simply increasing the number of units to capture the entirety of process emissions from any kilns. The technology allows for a comparatively simple, low energy solution that mitigates the risks and complexity associated with absorbents, their regeneration processes and hazardous wastes. The technology is neither new nor untested giving both parties the required assurances that it has a high chance of success when applied across an entire kiln network.
Timeline
Construction will commence in Q1 2023 and the full unit will be pre-fabricated and shipped on-site to Scandinavia with plug-and-play integration to the plant. Commissioning and start-up are scheduled for April 2023. Once operational the Group will finalise the wider roll-out plan which is estimated to be completed by Q3 2023. Full Group roll-out can then be launched.
Video Interview
Watch Max Vermorken's interview for more information about this new carbon capture facility: https://www.brrmedia.co.uk/broadcasts-embed/636ba004aad758108bbd9181/event/?popup=true
SBTi
With this next step in its ESG strategy, SigmaRoc has also committed to setting near-term company-wide emission reductions in line with the Science Based Targets initiative (SBTi).
The SBTi is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
Max Vermorken, CEO of SigmaRoc, commented:
"Our partnership with Aqualung is an exciting next step for the Group and the fruit of many months of diligent work by Aqualung, and our technical teams in the UK and at Nordkalk. It demonstrates that capturing all process emissions is possible, with existing technology and at industrial scale. Once we roll this out across the Group, I believe we will be industry leading when it comes to our Carbon Capture strategy, demonstrating again the agility of our business and our business model."
Charles Trigg, CTO of SigmaRoc, commented:
"As a Group we are always on the lookout for interesting technologies that can help us advance our business and our operations. Aqualung is clearly that type of technology. Partnering with them to potentially decarbonise our operations well ahead of not just our timeline but probably the entire industry, is very exciting and the result of intense work across the Group, in particular at Nordkalk. "
For more information about SigmaRoc please visit: www.sigmaroc.com
Henrik Utvik, President & CTO of Aqualung, commented:
"Aqualung Carbon Capture are extremely pleased to partner with a pioneering company like SigmaRoc to apply our decarbonisation concept in lime production. Due to the size and energy advantages, we believe our technology is ideally suited for this application, and the collaboration with SigmaRoc will fast track the deployment of full-scale carbon capture installations."
For more information about Aqualung please visit: https://aqualung-cc.com/
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SigmaRoc plc Max Vermorken
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Tel: +44 (0) 207 002 1080 |
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Liberum Capital (Co-Broker and Nominated Adviser) Neil Patel / Jamie Richards / Ben Cryer |
Tel: +44 (0) 203 100 2000
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Peel Hunt (Co-Broker) Mike Bell / Ed Allsopp
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Tel: +44 (0) 20 7418 8900 |
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Investor Relations Dean Masefield / Elisa Frenay |
Tel: +44 (0) 207 002 1080 ir@sigmaroc.com
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