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Fortum and Kvaerner into a memorandum of understanding for project cooperation – aims to cooperate on industry projects such as CO2 capture

02 March 2020, 13:29 EET


Fortum Corporation and Kvaerner have signed a memorandum of understanding (MoU) to identify projects and opportunities for e.g. technical, or commercial cooperation. The companies are both engaged in, for example, onshore energy plants, waste management, and wind projects. The non-exclusive cooperation can cover other areas as well. One opportunity to be evaluated is the potential realisation of a new and very much needed carbon capture plants.

“We are very excited to sign this MoU with a partner like Kvaerner to further strengthen Fortum’s energy initiatives. One of the possible projects is carbon capture and storage (CCS) for Waste-to-Energy (WtE) plants. CCS is very well suited for combatting climate change and creating a cleaner world,” says Fortum's President and CEO Pekka Lundmark.

Fortum is driving the change towards cleaner energy, decarbonization, and more sustainable use of natural resources. We invest in CO2-free energy production and are active in piloting Carbon capture solutions and other initiatives to reduce CO2-emissions. Kvaerner is a valuable partner for potential future Fortum projects in our common efforts to mitigate climate change.

“Carbon capture and storage facilities will be a significant focus area for Kvaerner moving forward, and it is a great advantage for us to be partnering up with Fortum. We are excited to join them in accelerating the change by reshaping energy systems, improving resource efficiency and providing smart solutions for the future,” says President and CEO in Kvaerner, Karl-Petter Løken.

Any future realisation of collaboration between the parties is subject to applicable statutory, contractual, or internal procurement regulations.

Further information:
Stian Mathisen, Communications Manager, Fortum Group Communications, +47 93249862, stian [dot] mathisen [at] fortum [dot] com