PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide's (Paris:AI) innovative large scale CO2 liquefaction technology, Cryocap™ LQ, has been selected by Stockholm Exergi, Stockholm’s energy company, to contribute to its Bio-Energy Carbon Capture & Storage (BECCS) project. This new technology is an important additional brick in Air Liquide’s portfolio of proprietary technologies that paves the way to developing large-scale Carbon Capture & Storage (CCS) value chains. The CO2 liquefaction solution allows to transport CO2 over long distances to carbon sinks for permanent storage, contributing to the viability of CCS projects and emergence of a low-carbon industry.
Under the framework of the agreement, Air Liquide will provide the CO2 liquefaction technology and equipment for the BECCS project to be built at an existing heat and power biomass (bio-cogeneration) plant in Stockholm. The Cryocap™ LQ CO2 liquefaction unit supplied by Air Liquide will be one of the largest in the world with a capacity of 3,500 tonnes per day. After liquefaction, the CO2 will be transported for permanent storage. The BECCS facility aims to liquefy and store around eight million tonnes of biogenic CO2 over the first 10 years of operation. The BECCS project is supported by the European Innovation Fund, one of the world’s largest programs for promoting innovative low-carbon technologies.
Air Liquide’s innovative Cryocap™ LQ technology, leveraging Air Liquide’s mastery and expertise in cryogenics, stands out with its chemical free, non-flammable process and compact design. This cutting-edge setup will also enable the recovery and reuse of heat generated from the process in order to supply Stockholm’s district heating network. These features allow enhanced sustainability and safety as well as best-in-class energy efficiency compared to traditional liquefaction solutions.
Philippe Merino, Group Vice President supervising Engineering & Construction at Air Liquide stated: “We are pleased that Air Liquide’s technology has been selected for the Stockholm Exergi innovative CCS project. Cryocap™ LQ CO2 liquefaction technology is a new addition to Air Liquide’s portfolio of low-carbon technologies, and is particularly suited to large scale CCS projects. In line with Air Liquide’s strategic plan ADVANCE, Air Liquide’s ambition is to contribute actively to the emergence of a low-carbon society. Drawing on our innovative capabilities and expertise we are able to help our customers achieve their decarbonization goals and forge a sustainable future.”
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 72 countries with approximately 67,800 employees and serves more than 4 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more than 27.6 billion euros in 2023. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good and DJSI Europe indexes.
www.airliquide.com
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