15 June 2021

Equinor has the ambition to become a climate-neutral company

CEO Anders Opedal says “We will cut emissions further in the future, and in the longer term Equinor expects to produce less oil and gas than today as a result of reduced demand. Significant growth in renewable energy and low-carbon solutions will result in faster change towards 2030 and 2035.” Opedal added that the company's strategy is to accelerate the restructuring at the same time as they strengthen the cash flow and return, creating value as a leader in the green transition.

The company wants to reduce net carbon intensity by 40% by 2035, increasing investments in renewable energy and low-carbon solutions so that they account for more than 50% of investments by 2030. Nearly NOK 200 billion will be invested in renewable energy in the years ahead, according to the company. (press release)

Wärtsilä and Vantaan Energia to continue towards an investment decision for Finland's largest Power-to-Gas plant

Technology company Wärtsilä and energy company Vantaan Energia have signed a cooperation agreement for the pre-design of a major synthetic methane plant, Power-to-Gas (P2G). The plant planned to be commissioned in 2025 would be the largest in Finland and also the first to produce carbon-neutral, synthetic methane on a commercial scale with a fuel capacity of 10 MW. Synthetic methane is produced from recovered carbon dioxide and hydrogen produced from renewable energy. In May 2020, the parties signed a cooperation agreement on a concept study examining the profitability of the Power-to-Gas plant in connection with the Vantaa Energy waste-to-energy plant. The decision to continue the project is based on the outcome supporting the further planning and development of the study. (press release)

Permascand signs LoI with Verdagy for co-development of green hydrogen

Permascand Top Holding AB, an independent technology-driven manufacturer of electrochemical solutions, announced that it has signed a letter of intent (LOI) with Verdagy - a subsidiary of Chemetry - for the co-development of a new electrochemical cell for the production of green hydrogen. The collaboration with Verdagy is further based on the successful collaboration between Permascand and Chemetry regarding the commercialization of electrochemical cells for Chemetry's eShuttle technology.

The purpose of the co-development agreement is to evaluate processes for the development and commercialization of the electrochemical cell that Verdagy uses in the production of green hydrogen gas. Verdagy operates a pilot plant in California, where Verdagy is working on a new production process to produce green hydrogen. Permascand will contribute its expertise to ensure reliability and a competitive cost base for the commercial electrolyser that is an important part of Verdagy's production process. (Dagens Industri)

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