First shipping company for transport of captured CO2 launched

Under a partnership with Icelandic Carbfix, Dan-Unity CO2 will offer transport and storage of CO2 starting from 2025, with the aim to enable large-scale CO2 emission reductions.

As explained, the CO2 can be safely injected into and stored in Iceland’s volcanic bedrock where it will be naturally converted into stone within two years, at a price competitive to conventional storage. Carbfix estimates that Iceland has capacity of 2500 gigatons CO2 – more than 55 years of the entire globe’s emissions.

The Carbfix technology provides a safe, permanent and economic alternative to conventional carbon capture and storage solutions by imitating and accelerating nature’s way of CO2 mineral storage. By dissolving CO2 in water and injecting it into underground basaltic formations, the CO2 turns into stone in less than two years,

…says Edda Sif Pind Aradóttir, CEO of Carbfix.

Captured CO2 will also be used for alternative energy forms such as CCU and Power-to-X and once the vessels are built, they can carry CO2 either to storage in Iceland or in offshore depleted oil fields at sea, or to utilization at a Power-to-X plant, Dan-Unity CO2 explained.

The technology and experience are in place. Capture, transport and storage are all proven concepts; thus, what it takes to start building the needed vessels is to secure the regulatory framework including CO2 taxation are in place,

…says Steffen Jacobsen, CEO of Evergas.

One vessel alone can deliver transport of 450,000 tons C02 annually, almost equivalent to the full yearly amount of the Danish Government’s current strategy.

The vessels will be purpose-built, and thus not be compatible with any other trades; consequently, longer term contract commitments are required to initiate newbuilding projects.

Once in place, Dan-Unity CO2 can build the number of vessels required using one of the different vessel size designs currently being developed with a lead time of 27-28 months for building a CO2 vessel.