Aker Carbon Capture and Microsoft have signed a memorandum of understanding to jointly explore opportunities to offer services in the carbon capture, utilisation and storage (CCUS) market.
They intend to demonstrate the full value chain of carbon reduction and removal using Aker Carbon Capture’s proprietary CCUS technology and Microsoft’s digital capabilities to enable the ecosystem for the voluntary carbon market, providing traceability and data and ensuring high-quality carbon credits.
The former company hopes to enable large-scale carbon reduction and removal from industry and aims to halve the carbon intensity of its carbon capture solutions by 2030 and become net negative during the same period.
Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture said: “Collaboration is the key to success and a pre-requisite for reaching net zero. By fully using the digital capabilities and domain expertise of our two companies we can support industrial emitters to take action and accelerate the deployment of carbon capture.”
Both the companies have a shared goal of accelerating the development of a functioning marketplace for CCUS and believe the combined technical expertise will allow to further strengthen these efforts.
Darryl Willis, CVP of Energy Industry at Microsoft added: “The science is clear; we all need to reduce our emissions as much as possible and remove carbon from the atmosphere in order for the world to reach net zero.
“In Aker Carbon Capture we have a partner that supports this goal and together, we aim to enable the industrial sector to move with pace and scale toward a net zero future by leveraging the power of technology.”