16 firms apply for Denmark ’s $4.1B CCS program

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🗞️ Driving the news: Sixteen companies have applied for Denmark’s $4.1 billion carbon capture and storage (CCS) fund, launched by the Danish Energy Agency
• Only 10 firms will be pre-qualified to proceed, based on strict criteria
• Final bids are due by December 2025, with contracts expected in April 2026

🔭 The context: This is Denmark's third state-supported CCS initiative, adding to $5.5 billion previously allocated for CO₂ capture
• The first CCUS contract was awarded to Ørsted, and a recent NECCS tender selected three firms for biogenic CO₂ storage
• The projects aim to scale Denmark’s CCS capabilities in line with national climate goals

🌍 Why it matters for the planet: The programme is central to Denmark’s strategy to reduce carbon emissions and meet its 2030 climate targets
• CCS is seen as a crucial technology for decarbonising hard-to-abate sectors
• Strong participation signals growing momentum for industrial carbon removal in Europe

⏭️ What's next: Pre-qualified bidders will be announced before summer 2025, followed by negotiations and final bids
• Implementation will depend on European Commission state aid approval
• Selected projects are expected to start reducing CO₂ emissions from 2026 onward

💬 One quote: “It is an important step to achieve Denmark’s climate goals,” - Peter Christian Baggesgaard Hansen, Deputy Director General of the Danish Energy Agency

📈 One stat: Ørsted’s CCS contract will capture and store 430,000 tonnes of CO₂ annually for 20 years starting in 2026

See here detailed sustainability performance of companies like Orsted

Click for more news covering the latest on carbon capture and storage