- The BECCS plant will capture 800,000 tonnes of CO2 annually.
- EU funding for the project is 180 million EUR.
- Full financing is targeted by 2023.
- The plant will be integrated with an existing bio-cogeneration facility.
Project Overview
Stockholm Exergi plans to build Europe’s first large-scale negative emissions plant, supported by the EU’s Innovation Fund with a contribution of 180 million EUR. The BECCS plant aims to capture 800,000 tonnes of biogenic carbon dioxide annually, contributing to net zero emissions goals for Sweden and international companies.
EU Innovation Fund Support
The EU Innovation Fund has selected seven European projects that combat climate change with innovative technologies. Stockholm Exergi’s BECCS project is the only one deploying BECCS technology among the selected projects.
Integration and Efficiency
The carbon capture technology will be added to Stockholm Exergi’s existing bio-cogeneration plant in Hjorthagen, Stockholm. Since 2019, the research facility has demonstrated high energy efficiency and sustainability, capturing almost 90% of biogenic carbon dioxide through extensive heat recovery and reuse in Stockholm’s district heating network.
Financing Strategy
Stockholm Exergi aims to secure financing from three main sources: the EU Innovation Fund, the Swedish state through a reverse auction, and income from the sale of Carbon Removal Certificates (CRC) on the voluntary carbon market. The company is in discussions with potential CRC buyers to finalize agreements before the investment decision in 2023.
Future Steps
To ensure the project’s success, agreements for the transport and permanent storage of captured carbon dioxide are necessary. These negotiations are ongoing and are crucial for the final funding decision planned for 2023.
