Aker Horizons Asa (AKHOF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everybody to today's presentation of ArcHorizons third quarter 2024 results. My name is Lars-Peder Suvogsberg and I'm happy to be the new CEO of ArcHorizons. Joining me here today we have Christoffer Dahlberg, CFO of ArcHorizons and Mary Kenny, CEO of Mainstream Renewable Power who will present the main developments in the last quarter. You are invited to submit your questions during the presentation, and we will respond to them in the Q&A session at the end. So, I will start with a short summary of the main developments that we have seen in the third quarter. The joint venture between Aker Carbon Capture and SLB, where ACC holds 20%, unveil its new company name, SLB Kapturi. And in August, SAA Captura announced an important milestone when it secured its first US-based project. They were awarded a feed contract by the partner CO280 for a large-scale carbon capture plant at the pulp and paper facility on the US Gulf Coast. This project is large and aims to remove a full 800,000 tonnes of CO2 annually. Importantly, it paves the way into the above 100 million tons of CO2 per year emissions US pulp and paper market, which is an important building block for the JV. Also, the board of ACC continues the process to determine future strategy and structure for ACC. The conclusions of this process will be communicated within the first quarter of 2025. Moving to mainstream, mainstream renewable power will be streamlining its business, with a focus on growth in selected core markets, South Africa, Australia, and the Philippines. In South Africa, the company continues to deliver on its pipeline, and we're glad to see that the 50 megawatt solar project, ILIQUA, came to financial close during the quarter. At the same time, the construction of a 100 megawatt solar project is ...