Global technology company SLB has signed a deal to purchase an 80% stake in Aker Carbon Capture Holding for $380m to support industrial decarbonisation.
Combined, it is hoped that the pair will create a vehicle for accelerating the introduction of disruptive early-stage technology into the global market on a commercial platform.
Under the deal terms, SLB may also make additional payments of up to $125m over the next three years based on the performance of the business.
Olivier Le Peuch, CEO of SLB, said that, for CUUS to have the expected impact on supporting global Net Zero ambitions, it will need to scale up 100-200 times in less than three decades.
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