Stockholm Exergi has announced plans to develop one of the world’s largest facilities for capturing and storing biogenic carbon dioxide, which will be located near Värtaverket in Stockholm.
Construction on the SEK 13 billion bio-CCS facility is set to commence, with the site expected to be operational by 2028. It will have the capacity to capture and permanently store 800,000 tonnes of CO₂ annually, more than the emissions from Stockholm’s road traffic over the same period.
‘A historic moment’
“This is a historic moment for Stockholm Exergi and for the green transition,” commented Anders Egelrud, CEO of Stockholm Exergi. “We have worked purposefully for many years to make bio-CCS a reality, and today’s decision means that we are moving from plans to action. With this, we assume global leadership in the industry for permanent removals.”
The project is being funded through a combination of public support and private purchases of negative emission certificates from companies with ambitious climate targets, Stockholm Exergi said.
Stockholm Exergi, which has operated a test bio-CCS facility since 2019, added that the captured carbon will be stored in bedrock beneath the seabed, where it mineralises over time. It has selected Northern Lights as its partner for CO₂ transport and storage.
‘Perseverance and collaboration’
“This investment decision is a milestone that reflects years of dedication, perseverance, and collaboration,” said Carlo Maddalena, senior director at APG and chair of Ankhiale, one of the owners of Stockholm Exergi. “Congratulations to the team at Stockholm Exergi, whose commitment – together with our partners – has made this groundbreaking project a reality. Bio-CCS will play a crucial role on the path to net-zero, and we are proud to support an initiative of global importance.”
Elsewhere, Emilia Bjuggren, chair of Stockholms Stadshus AB, added that the Swedish capital is “leading the way in climate action”, noting that bio-CCS will be a “critical part of reaching the goal to make Stockholm a climate-positive territory by 2030. We must accelerate the transition, and we are determined to do so.”
Stockholm Exergi provides heating, electricity, cooling, and waste services to over 800,000 residents in Stockholm. The company is jointly owned by the City of Stockholm and Ankhiale, a consortium of European pension funds, including APG, PGGM, Alecta, Keva, and AXA IM Alts. Read more here.
