COPENHAGEN, Denmark, Aug. 30, 2023 /PRNewswire/ -- Carbon Centric AS ("Carbon Centric") and Fidelis New Energy Europe ApS ("Fidelis") have signed a letter of intent to securely and permanently store emissions from COof Carbon Centric customers, using the recently announced Norne Carbon Storage Hub ("Norne") by Fidelis in Denmark. This agreement is a milestone for the decarbonization of small and medium-sized biogenic and difficult-to-reduce emitters in Northern Europe. This agreement ensures that companies aiming to pioneer carbon capture and storage ("CCS") can store captured CO by 2027.

Carbon Centric plans to start capture equipment installations at customer sites in 2024 and is expected to store at least 800,000 tonnes of CO annually with Norne by 2027. Carbon Centric's CO will be transported to the Fidelis CO reception facility in the port of Aalborg. Carbon Centric has long been a leader in carbon management with capture projects already underway in Norway and Iceland and potential capture projects in Denmark and Sweden.

On May 15, 2023, Fidelis announced the Norne Carbon Storage Hub, a ground-based CO storage network in Denmark. Norne offers CO emitters the option of accessing a safe and cost-effective decarbonization solution designed to help Denmark achieve its ambitious climate goals by 2030 and 2050. Norne is scheduled to start CO storage operations for Carbon Centric in 2027 and aims to store more than 20 million tons per year by 2030. Carbon Centric joins a growing list of Norne clients looking for carbon storage that is secure, ESG-compliant and economically advantageous.

Since 2021, Carbon Centric has been working to provide low cost carbon capture solutions for existing biomass and waste combined heat and power plants. Carbon Centric offers to build, own and operate carbon capture plants for small to medium-sized waste and biomass facilities, giving asset owners the opportunity to reduce their emissions without the high investment cost. Carbon Centric also offers affordable, turnkey carbon capture plants for the same market, handling everything from front-end engineering design, construction, installation, operations and maintenance.

"At Carbon Centric we have been looking for a company like Fidelis that can ensure profitable large-scale carbon storage for our customers. Norne is visionary in his ability to grow rapidly and will allow us to develop our businesses together," said Kenneth Juul, Chief Commercial Officer and co-founder of Carbon Centric. "With Denmark anticipating moving rapidly towards onshore carbon storage and with Fidelis plans and three years of prior work on Norne's vision to provide carbon storage solutions in both Jutland and Zealand, we see great opportunity to expand our activities in Denmark. Our ambition is to provide affordable CCUS solutions across the entire value chain for our customers and achieve large-scale CO reductions by helping small and medium-sized facilities to decarbonise. With this partnership we are well positioned to achieve our ambitious CO storage targets and thus help Denmark and the EU to decarbonise," concluded Kenneth Juul.

"We are delighted to be able to offer a safe and cost-effective decarbonisation solution for Carbon Centric and its customers. Carbon Centric offers turnkey carbon mitigation services for small and medium-sized emitters and enables these companies to implement climate change solutions now. We are proud to be able to work collaboratively with Carbon Centric to offer these services to their customers," said Ulrik Weuder, CEO of Fidelis New Energy Europe. "Norne enables the safe and environmentally friendly decarbonization of key segments of the Danish and European economies while ensuring that industries remain globally competitive due to the low overall costs of CO mitigation," added Bengt Jarlsjo, co-founder, president and CEO of Fidelis. "This announcement with Carbon Centric is an important milestone for the decarbonisation of Denmark and Northern Europe. We look forward to continuing our collaboration with Carbon Centric."

About Carbon Centric

Carbon Centric is a dedicated CCUS projects and services company actively working to reduce global carbon emissions by accelerating the implementation and deployment of carbon capture capabilities. The company focuses especially on waste-to-energy and biomass-to-energy plants. To install carbon capture capacity at a high rate, they serve both the CCS and CCU markets, and take responsibility for subsequent CO management. Carbon Centric is developing a significant portfolio of CCUS projects and aims to install more than 2 million tonnes of capture capacity by 2028. Its first large-scale carbon capture plant will be in commercial operation by the end of 2024. For more information about Carbon Centric, visit www.carboncentric.no.

About Fidelis New Energy

Fidelis New Energy, LLC is an energy transition company driving decarbonization through investments in carbon capture and storage, renewable fuels, and low and negative carbon products in Europe and the United States of America. Fidelis uses an "all of the above" energy philosophy with a focus on reducing carbon intensity by innovating new technologies by integrating proven technologies.

Fidelis New Energy is headquartered in Houston, Texas, with offices in Copenhagen, Denmark (European headquarters) and Baton Rouge, Louisiana. Fidelis also has a portfolio of patent-pending technologies that deliver climate benefits through innovative integration of proven technologies. To learn more about Fidelis and its technologies, including FidelisH2®, H2PowerCool™, and CO2PowerGrow™, visit //www.fidelisnewenergy.com/.

Media contact: info@fidelisinfra.com

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