Technology

Aker Carbon Capture ASA: Second quarter 2024 results

Published

2 months ago

July 10, 2024

LYSAKER, Norway, July 10, 2024 /PRNewswire/ — In the second quarter, Aker Carbon Capture ASA (“ACC ASA”) finalized a joint venture (JV) with SLB. The JV strategically combines technology portfolios, expertise, and operational platforms to support accelerated carbon capture adoption for industrial decarbonization at scale. ACC ASA booked a gain on the sale of NOK 4.9 billion and the cash position at the end of the second quarter was NOK 4.5 billion.

“We are immensely proud of making carbon capture a reality today with seven technology installations in progress in Norway, Denmark and the Netherlands that have the combined capacity to capture up to 1 million tonnes of CO2 emissions per year. Through the JV with SLB, we will scale industrial decarbonization and commercialize disruptive technologies for the future. This JV marks a defining moment in our strategy, and we are confident that the partnership with SLB will create significant value for all our stakeholders,” said Valborg Lundegaard, CEO of Aker Carbon Capture ASA.

SLB and Aker Carbon Capture ASA close JV transaction

In June, ACC ASA and SLB announced the closing of their carbon capture JV. Carbon capture is a key technology to fight climate change and achieve net zero by reducing greenhouse gas emissions from power and hard-to-abate industrial sectors. The new JV is well positioned to deploy decarbonization at scale. ACC ASA will retain a 20% ownership stake in the JV and will continue to further develop the business together with SLB, which will hold the remaining 80% ownership stake. The new company will be headquartered in Oslo.

For further details on the JV transaction, reference is made to transaction announcement: https://akercarboncapture.com/?cision_id=DB4E7DA6FBE9D754

Market development and commercial activity progressing

The first half of 2024 saw high activity in the overall carbon capture market and for Aker Carbon Capture, notably including further progress with supportive government policy, the development of carbon removals, and the formation of progressive industry partnerships.

Aker Carbon Capture saw high activity in early-stage work such as test campaigns, FEEDs, pre-FEEDs and studies and took major steps to develop its position in the important North American market. This included signing Memorandum of Understanding agreements with MAN Energy Solutions for CO2 capture and compression, and with carbon capture developer CO280 and Microsoft to accelerate full-scale carbon removal, initially targeting biogenic CO2 emissions from the pulp and paper industry. This builds on the existing partnership between Aker Carbon Capture, Ørsted and Microsoft that supports the landmark Kalundborg CCS project in Denmark.

The Twence CCU, Heidelberg Materials Brevik CCS and Ørsted Kalundborg CCS projects continued to progress in the quarter and are currently the most mature large-scale carbon capture projects under construction in Europe.

The Heidelberg Materials Brevik CCS project in Norway, a Big Catch facility, will be the first industrial scale carbon capture plant at a cement factory anywhere in the world, and will at completion capture 400,000 tonnes CO2 per year.Ørsted’s BECCS project in Denmark, with the delivery of 5 Just Catch™ 100 units at Asnæsværket and Avedøreværket, will capture up to 500,000 tonnes CO2, creating negative emissions from 2026 onwards.The Twence project in the Netherlands, with the delivery of a Just Catch™ 100 unit to the Dutch operator of waste-to-energy plants, will have a rated capacity of 100,000 tonnes CO2 per year and will commence operations 2024. The captured CO2 at Twence will be utilized in local horticulture to increase plant yields from greenhouses, making it one of the first industrial scale examples of carbon capture and utilization (CCU).

Financial results

ACC ASA ended the second quarter 2024 with NOK 4.5 billion in cash and a solid equity position at NOK 5.5 billion. An accounting gain of NOK 4.9 billion was booked related to the sale of ACCH to SLB.

Future strategy

The Board of Directors of ACC ASA is in the process of defining the future strategy and structure of the Company, including the framework for the use of the proceeds from the transaction with SLB.

The first-half 2024 report is attached.

For further information:
Media:
Marianne Stigset, mob: +47 41188482, email: marianne.stigset@akercarboncapture.com

Investors:
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com

——————

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Marianne Stigset, Communications, Aker Horizons ASA, on July 10, 2024, at 07:00 CEST.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-carbon-capture-asa/r/aker-carbon-capture-asa–second-quarter-2024-results,c4013329

The following files are available for download:

https://mb.cision.com/Main/20223/4013329/2909417.pdf

ACC ASA Half-year report 2024

View original content:https://www.prnewswire.co.uk/news-releases/aker-carbon-capture-asa-second-quarter-2024-results-302192966.html

Technology

DANAconnect and eSource Capital Launch PayrollTrace for Digital Payroll Compliance

Published

56 mins ago

September 22, 2024

PayrollTrace is an innovative, secure platform for paperless payroll receipt delivery, ensuring regulatory compliance and real-time traceability.

FORT LAUDERDALE, Fla., Sept. 22, 2024 /PRNewswire-PRWeb/ — DANAconnect, the leading company in automated business communications, in collaboration with eSource Capital, a prominent Google Cloud Partner in Latin America, announce the launch of PayrollTrace, an innovative platform designed for the secure and efficient digital delivery of payroll receipts, ensuring regulatory compliance and complete traceability in every transaction.

Paul Kienholz, CEO of DANAconnect, highlighted: “PayrollTrace is the next step in automating critical business processes, enabling companies to eliminate paper and manage payroll receipt deliveries with full confidence and transparency, while ensuring regulatory compliance.”

PayrollTrace automates the delivery of payroll receipts through multiple channels, including email and SMS, completely eliminating the use of paper or reliance on email. This solution not only simplifies human resources processes but also ensures regulatory compliance with verifiable technical reports that allow companies to manage and audit receipt deliveries in real time.

Juan Aguilera Franceschi, Managing Partner at eSource Capital, added: “Our partnership with DANAconnect allows us to offer companies in the region a robust solution that optimizes payroll management. PayrollTrace provides the security and flexibility companies need to manage payments efficiently and sustainably.”

The partnership between DANAconnect and eSource Capital combines DANAconnect’s strength in omnichannel business communications with eSource Capital’s expertise in cloud digital transformation. Together, they aim to provide businesses across the Americas with a comprehensive solution that not only optimizes payroll delivery but also ensures compliance with local regulations, guaranteeing that every transaction is backed by complete audits.

About DANAconnect

DANAconnect is a North American company and a leader in communication automation for financial companies through its omnichannel platform. It sends communications to more than 10% of the population of the Americas every month, ensuring secure deliveries, traceability, and large-scale regulatory compliance.

About eSource Capital

eSource Capital is a leading Google Cloud partner in Latin America, specializing in digital transformation and cloud solutions. With a focus on Google Workspace and Google Cloud, eSource Capital helps companies optimize their operations in the digital environment.

Media Contact

Fabiana Arroyo, DANAconnect Corp., 1 8556003262, info@payrolltrace.com, https://www.payrolltrace.com

Twitter, LinkedIn

View original content to download multimedia:https://www.prweb.com/releases/danaconnect-and-esource-capital-launch-payrolltrace-for-digital-payroll-compliance-302254651.html

SOURCE DANAconnect Corp.

Technology

Siemon Announces Optical Patching Solutions for GenAI Networks Using NVIDIA Accelerated Computing

Published

7 hours ago

September 22, 2024

Siemon announces it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks.

WATERTOWN, Conn., Sept. 22, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, today announced it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design & deployment of NVIDIA AI Infrastructure.

“Siemon is very familiar with NVIDIA reference architectures and has worked with many customers to design and deploy NVIDIA clusters… Siemon offers a full range of AI-ready fiber cabling, DAC, and AOC solutions that support 400G, 800G, and 1.6T applications.”

As part of the solution integration, Siemon has joined the NVIDIA Partner Network (NPN) as a Solution Advisor Consultant. NPN Solution Advisor Consultants provide consultation services and expert advice to customers looking to implement NVIDIA-based solutions or technologies. Siemon joins the network to offer its expertise in addressing the unique infrastructure and cabling challenges presented by accelerated computing.

NVIDIA optical reach specifications are calculated assuming two optical patch panels are used in the link and assuming each employ two optical connectors, which makes for a total allowance of four optical connectors in the link. The Siemon optical patching solutions meet NVIDIA requirements and provide customers with flexibility and ease of management.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

View original content:https://www.prweb.com/releases/siemon-announces-optical-patching-solutions-for-genai-networks-using-nvidia-accelerated-computing-302254640.html

SOURCE Siemon

Technology

AMSimpkins & Associates Awarded Wisconsin Technical Purchasing Consortium Contract RFB 25-002TP – for Identity Verification Solutions

Published

8 hours ago

September 22, 2024

AMSimpkins & Associates has been awarded the Wisconsin Technical Colleges Purchasing Consortium (WTC-PC) contract for Identity Verification Solutions. This partnership includes providing their advanced S.A.F.E. (Student Application Fraudulent Examination) platform to 16 Wisconsin technical colleges, enhancing security and safeguarding against fraudulent student applications. With a focus on higher education, AMSA aims to support these institutions in maintaining the integrity of their admissions processes and preventing identity fraud. This collaboration underscores AMSA’s commitment to delivering innovative solutions tailored for the education sector.

ATLANTA, Sept. 22, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates is proud to announce its selection by the Wisconsin Technical College System Purchasing Consortium (WTC-PC) to provide Identity Verification Solutions through the S.A.F.E. platform. The WTC-PC comprises 16 independent, publicly funded two-year technical colleges across Wisconsin, including Blackhawk Technical College, Chippewa Valley Technical College, Fox Valley Technical College, and Milwaukee Area Technical College, among others.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSA. This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

With a focus on preventing identity fraud, AMSimpkins & Associates’ comprehensive solutions will strengthen the security measures across admissions, enrollment, and financial aid processes, ensuring secure verification and compliance with federal and state regulations. S.A.F.E. will now support Wisconsin’s higher education system, offering its cutting-edge technology to streamline operations and safeguard student data.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSimpkins & Associates,” said Maurice Simpkins, President and Founder. “This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

As part of this agreement, AMSimpkins & Associates will deliver comprehensive services, including system integration, training, and ongoing support to ensure seamless implementation. S.A.F.E.’s capabilities are designed to evolve with growing threats of fraudulent activities, keeping institutions one step ahead in securing student identities.

Institutions in the Wisconsin Technical College System:

Blackhawk Technical CollegeChippewa Valley Technical CollegeFox Valley Technical CollegeGateway Technical CollegeLakeshore Technical CollegeMadison Area Technical CollegeMid-State Technical CollegeMilwaukee Area Technical CollegeMoraine Park Technical CollegeNicolet Area Technical CollegeNorthcentral Technical CollegeNortheast Wisconsin Technical CollegeNorthwood Technical CollegeSouthwest Wisconsin Technical CollegeWaukesha County Technical CollegeWestern Technical College

The S.A.F.E. platform’s advanced identity verification services will play a pivotal role in securing sensitive data and ensuring a safe and fraud-free environment for Wisconsin’s technical colleges and their students.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com.

Media Contact

LAQWACIA SIMPKINS, AMSimpkins & Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, amsa-highered.com

Twitter, Facebook, LinkedIn

View original content:https://www.prweb.com/releases/amsimpkins–associates-awarded-wisconsin-technical-purchasing-consortium-contract-rfb-25-002tp—for-identity-verification-solutions-302253867.html

SOURCE AMSimpkins & Associates