Aker Carbon Capture proposes a cash dividend of NOK 3.5 billion

FORNEBU, Norway, Feb. 12, 2025 /PRNewswire/ -- Aker Carbon Capture ASA (ACC), an Aker Horizons portfolio company, today announced that the Board of Directors of ACC has proposed an extraordinary cash dividend of NOK 3.5 billion, of which Aker Horizons is expected to receive approximately NOK 1.5 billion based on its 43.27% ownership in ACC.

In June 2024, ACC and SLB announced the completion of a transaction combining their carbon capture businesses in a joint venture (JV), since renamed SLB Capturi. ACC retains a 20% ownership stake in the JV and SLB holds the remaining 80%. ACC booked a gain on the sale of NOK 4.9 billion in its consolidated accounts.  

Going forward, ACC will, through its ownership in SLB Capturi, continue to support the development of the carbon capture business of SLB Capturi. The cash position remaining in ACC following the proposed dividend distribution will enable ACC to retain a sufficiently robust balance sheet to fulfill its role and responsibilities as a minority owner of SLB Capturi, and will back ACC's remaining pro-rata guarantee exposure for projects awarded prior to the formation of the JV.

ACC's proposed cash dividend is among other things subject to approval by an extraordinary general meeting in ACC, expected to be held on or about 7 March 2025. Please refer to ACC's announcement for more details.

For further information, please contact:

Jonas Gamre, Investor Relations, Tel: +47 97 11 82 92
[email protected]

Mats Ektvedt, Media, Tel: +47 41 42 33 28
[email protected]

About Aker Horizons:

Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents.

www.akerhorizons.com

About Aker Carbon Capture:

Aker Carbon Capture ASA was established as a separate entity in 2020, building on more than 20 years long experience and maturation of the carbon capture technology within Aker. Following an agreement with SLB, a joint venture between SLB and Aker Carbon Capture was established

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SOURCE Aker Horizons