Dan-Unity CO2 is pleased to announce its partnership with Icelandic Carbfix and together we will, already in 2025, be able to offer transport and storage of CO2 and thereby enable large-scale CO2 emission reductions. 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, offshore included. Carbfix estimates that Iceland has capacity of 2500 giga tons 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. Collaboration of Carbfix and Dan-Unity CO2 further strengthens the robust relationship between Iceland and Denmark. While already being pioneering countries with respect to ambitious climate targets, cross-border climate action will be significantly strengthened by the two companies joining forces,” 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. Whatever is required, shipping by specialized vessels is needed.
“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.
The import and storage of CO2 in Iceland is legalized and supported by local Government and Parliament, carving the way to an early and large-scale CO2 reduction for initially the North European industries, enabling the emissions to be safely locked away forever.
According to the IPCC, UN and EU, CCS is a necessity in the climate action strategies. The Danish government has assessed that CCS has the greatest reduction potential of all climate initiatives. Still, only 3 pct of the Danish CO2 reduction in 2030 is assumed coming from CCS, a number that could easily be more than 10 times as high.
Steffen Jacobsen says: “As shipping plays a crucial role in transporting the CO2 for storage and re-use, Denmark, being a global shipping nation, has a unique opportunity to lead in experience and new technologies. Already internationally well-known for its climate solutions, including alternative fuel for shipping transport, we can further strengthen this position.”
One vessel alone can deliver a safe and cost-efficient 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. The vessels are of course prepared to sail on green energy.