NORDDJURS: Normod Carbon, a Northern European pioneer in CO2 capture, has secured exclusivity and customers for a new CO2 hub at Grenaa Port.
The project will initially be able to handle around 10 million tons of CO2 per year and is expected to require investments of approximately 250 million euros divided into two phases, according to a press release from the company.
Operation is planned to begin in 2029, and the hub will be part of the company's ambition to establish Northern Europe's largest network of CO2 hubs.
- Grenaa has the deepwater access, industrial zoning and scalability that the CCUS industry needs. Our agreement enables emitters to share a cost-effective infrastructure instead of building expensive stand-alone solutions - thereby accelerating the roll-out of CO2 capture across the region, says Jan Lien, CEO of Normod Carbon.
The company has already signed letters of intent with three industrial emitters for 6.4 million tonnes of CO2 annually and is in dialogue with other players representing potential volumes of up to 35 million tonnes across Northern Europe.
Over 80 percent of the portfolio consists of bio-CCS, supported by durable CO2 removal certificates, which trade at over 200 euros per ton.
The project also receives local support.
- By enabling CO2 management on a large scale, we create new opportunities for industry and ensure that our port plays a central role in achieving climate goals, says Henrik Carstensen, CEO of Grenaa Port.
Mayor of Norddjurs Municipality, Kasper Juncher Bjerregaard (V), adds: "The Grenaa CO2 hub represents a great opportunity for the local community and for Denmark as a whole. It will create qualified jobs, attract new industry to our region and strengthen Denmark's role in delivering the green transition.
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