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SLB Capturi Completes Construction of the World's First Industrial-Scale Carbon Capture Plant at a Cement Facility

1. SLB Capturi completed a carbon capture plant at Heidelberg Materials in Norway. 2. This facility captures 400,000 metric tons of CO2 annually to produce net zero cement. 3. The project is a landmark achievement for decarbonizing the cement industry. 4. Operations are expected to start by 2025 after commissioning. 5. The project symbolizes collaboration and innovation in climate solutions.

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FAQ

Why Bullish?

The successful completion of this groundbreaking project enhances SLB's leadership in carbon capture technologies, potentially increasing investor confidence. Previous examples include SLB's rise post-announcement of key projects in sustainability.

How important is it?

The article highlights a significant milestone in SLB's commitment to sustainability, indicating future growth potential and alignment with global climate goals.

Why Long Term?

The effects of this initiative will be realized as operational efficiencies and revenues grow over time, much like the long-term benefits seen from other infrastructure investments.

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HEI.DEAKRHF
OSLO, Norway--(BUSINESS WIRE)--SLB Capturi has reached a significant milestone of mechanical completion of the carbon capture plant at Heidelberg Materials’ cement facility in Brevik, Norway. With the full-scale carbon capture plant now complete, including the carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities, the plant is now ready for testing and commissioning. When operational, this world-first commercial-scale carbon capture plant at a cement facility will enable production of net zero cement, without compromising on the product strength or quality. "Reaching this milestone is a testament to the power of working together and the collective determination to make a positive climate impact,” said Egil Fagerland, CEO, SLB Capturi. “We look forward to continuing these collaborative efforts as we move toward the commissioning and operational phases of the project. The Brevik CCS plant sets a precedent for future carbon capture initiatives, where learnings and insights from this groundbreaking project enable others to follow." Due to the inherent emissions of cement production, the sector is dependent on carbon capture and storage to reach net zero. The carbon capture plant is designed to capture up to 400,000 metric tons of CO2 annually from the cement facility. Strong execution support from Aker Solutions and the local industry has been instrumental in completing the construction of this project. "The mechanical completion of the Brevik CCS project is a landmark achievement in the decarbonization journey of the cement industry,” said Giv Brantenberg, general manager Northern Europe, Heidelberg Materials. “This project exemplifies our commitment to innovation, collaboration, and the pursuit of solutions that address the pressing issue of climate change. We are immensely proud of the dedication and hard work of our teams and partners who have made this possible." The Brevik CCS plant is part of The Longship CCS project, Europe’s first complete value chain for the capture, transport, and storage of industrial CO2 emissions. The Brevik plant will now move into commissioning phase, with operations starting during 2025. About SLB SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com. About SLB Capturi SLB Capturi is dedicated to carbon removal and reduction solutions. The company’s proven modular technologies enable industries to deploy capture technology at speed and scale, meeting the requirements of tomorrow and the opportunities of today. The company is currently delivering seven carbon capture plants to bioenergy, waste to energy, and cement facilities. Find out more at capturi.slb.com Cautionary Statement Regarding Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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