Aker Carbon Capture is one of the real European success stories in green investing. We hear too many stories about listed companies that are out to save the planet and then end up nose diving. Aker Carbon Capture is not one of them.
The company, which is listed on Euronext in Oslo (also OTC if you are in the US) recently proposed a huge special cash dividend of around USD 314m. This is part of a process that will see it merging its carbon capture operations into a JV with SLB NYSE:SLB, which is going to be called SLB Capturi.
SLB Capturi will represent the leading, cost-effective portfolio of proven carbon capture technology across a range of industrial sectors. Effectively, this means capturing carbon that would otherwise be pumped into the atmosphere by heavy industry, transporting it, and storing it safely where it doesn’t do any harm.
SLB Capturi represents seven industrial scale carbon capture projects across Norway, Denmark and the Netherlands, capturing around a million tonnes of carbon per year. It includes three of the largest carbon capture projects in Europe. In December last year Aker Carbon Capture was responsible for bringing online the world’s first full-scale carbon capture project at a cement plant.
Carbon capture matters
Carbon capture matters because heavy industry remains one of the biggest polluters of the atmosphere on the planet. European firms are leading the way here, helping polluters in the European Union to become more environmentally friendly. The big dividend pay out we are seeing from Aker Carbon Capture illustrates that investors can see profits from this activity.
But companies need to be operating in a political environment that is supportive of this.
The big drop in the share price you will see reflects the dividend pay out and the fact that ACC stock now has to be valued against its share of the bigger SLB Capturi project, which is continuing with the good work.
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Partnership with SLB Solutions
The other half of the SLB Capturi story – and the main partner in the effort – is SLB (formerly known as Schlumberger), ranked one of the top companies in 2025 by LinkedIn. SLB Solutions may be known to UK investors through its proposed acquisition of ChampionX.
SLB is regarded as a key player in reducing the carbon impact of the fossil fuels sector, for example through flaring reduction and methane emissions management.
Like Zefiro Methane, which we have covered on this site previously, SLB also works on plugging oil wells to ensure that they can be left safely without passively polluting the atmosphere.
SLB Capturi and AEB Amsterdam
SLB Capturi has plenty of potential within the European context. Momentum was illustrated earlier this month when it announced it would be taking part in carbon capture FEED delivery to AEB Amsterdam. SLB Capturi will form part of a consortium at the initial design phase, along with ACCIONA and Sener. They will create a CO₂ capture facility within the waste processing facility at AEB Amsterdam.
The project will start with a FEED phase (Front End Engineering Design) during which a construction team, comprising the consortium, AEB and a project management consultancy, will further develop the design and execution strategy for the subsequent building of the installation.
AEB is a waste processing company that operates a separation plant, two incineration plants and a biomass plant in Westpoort, Amsterdam. The two waste incineration plants process approximately 1.4 million tonnes of waste annually, releasing nearly 550,000 tonnes of fossil CO₂.
Carbon capture is likely to play an increasingly important role if countries are going to cut back on the massive amounts of methane and CO₂ that currently gets pumped into the atmosphere. While EU governments are increasingly supportive of these efforts, and ventures like SLB Capturi are likely to get plenty of financial and political support, more needs to be done elsewhere in the world if their efforts are to be impactful.
