The Company builds carbon capture and storage (CCS) plants in an effort to lower emissions from industrial cement and steelmaking plants
Investors Take Note: The company’s latest innovation, revealed last week, would *cut the energy needed to capture carbon and improve the company’s profitability in the future
A typical CCS process consumes a lot of energy, but the Company’s new technology is expected to recycle internal waste heat and cut the total energy needed by 10%
Investors Take Note: The Oslo-listed firm is currently building its first carbon capture plant on a cement facility that is expected to lower emissions by more than 90%. The company says the captured carbon dioxide will be transported by ship and stored on the Norwegian continental shelf. The Company has already secured contracts that will remove up to 10 million tons of carbon annually from 2025 — the equivalent of total emissions from 10 large-scale cement plants
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