Carbon capture and storage: Aalborg Portland signs agreement with the Danish Energy Agency

Aalborg Portland, a subsidiary of Cementir Holding, has achieved a significant milestone in Denmark. The company has signed an agreement with the Danish Energy Agency to receive a subsidy for CO₂ capture amounting to approximately €117 per tonne of CO₂ captured, up to 1.25 million tonnes of CO₂ per year from 2030, when the CO₂ capture plant is expected to be operational.

The grant amounts to €146 million per year for 15 years, for a maximum cumulative total of approximately €2.2 billion, and concerns Accsion, one of the first and largest onshore carbon capture projects in Europe, the completion of which will depend on the timely and coordinated deployment of capture, transport and storage infrastructure. The agreement therefore represents a key milestone in the industrial decarbonisation of one of the main ‘hard-to-abate’ sectors and will also enable the development of a new Danish value chain for the onshore capture, transport and storage of CO₂.

Through the Accsion project, the Cementir Group is pursuing its climate strategy, helping to achieve carbon neutrality for direct Scope 1 emissions at its European cement plants. “With this agreement, we can take a decisive step towards completing one of the largest industrial CO₂ capture projects in Europe, which will enable Cementir to be at the forefront of decarbonisation and demonstrate how ‘hard-to-abate’ sectors can be transformed on a large scale,” commented Francesco Caltagirone, Chairman and Chief Executive Officer of Cementir Holding.

Once fully operational, the project is expected to account for almost half of the Danish Fund’s overall target of capturing 2.3 million tonnes of CO₂ per year, making a significant contribution to Denmark’s climate goals whilst also strengthening the country’s long-term industrial competitiveness in the green transition.