Technip Energies and Shell Catalysts & Technologies Strengthen Strategic Alliance on CANSOLV Technology to Address Growing Carbon Capture and Storage Demand
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PARIS--(BUSINESS WIRE)-- Technip Energies (Paris:TE) (ISIN:NL0014559478) and Shell Catalysts & Technologies are building on their successful track record of collaboration by strengthening their strategic alliance, which aims to drive cost-effective, large-scale carbon capture and storage (CCS) projects by providing a combination of state-of-the-art technology and project management excellence.
The strategic alliance consists of an integrated collaboration for the joint promotion, marketing, licensing and execution of projects using Shell’s CANSOLV(1) CO2 capture system technology, resulting in lower Capex and Opex for clients.
The two organizations, which have been working together since 2012, share a common objective of contributing to the acceleration of the energy transition. By enhancing their collaboration, they have the ambition to efficiently address the rapidly growing CCS market and the strong need for affordable and proven solutions.
In addition to its CANSOLV technology, Shell Catalysts & Technologies brings to the alliance substantial CCS experience gained from supporting Shell’s projects. Technip Energies, which also has a significant CCS track record, brings end-to-end project delivery experience in front-end-engineering design (FEED), engineering, procurement and construction (EPC), commissioning and start-up, and life-of-asset services. As an example of this collaboration, Technip Energies was recently awarded an EPC contract by Hafslund Oslo Celsio for a world-first CCS project at waste to energy plant located in Oslo, Norway, leveraging Shell’s CANSOLV(1) CO2 capture system technology.
Arnaud Pieton, CEO of Technip Energies, stated: “Both organizations are recognized global energy leaders, bringing complementary skills for CCS and sharing a similar, bold energy transition vision. Strengthening our collaboration will help to drive CCS affordability by developing industrial-scale solutions. This will support the growing demand for CCS across industries and geographies and will help us to make a significant contribution to a sustainable future.”
Yuri Sebregts, Executive Vice President of technology of Shell, said: “Our current cooperation has already unlocked several highly significant improvements. For example, we were able to find ways to make the CANSOLV technology less energy intensive and developed opportunities to modularise and standardise solutions. Consequently, we are able to offer lower capital and operating costs to our customers.”
In June 2022, Technip Energies joined Shell’s Energy Transition Campus Amsterdam (ETCA) to form a joint, co-located delivery team. This followed Shell’s move to transform the site, previously known as Shell Technology Centre Amsterdam, into an open innovation campus and to invite external parties to co-locate there and work together on solutions for cleaner energy. Over the next few years, the joint team stationed at ETCA will continue to work towards achieving strong improvements in cost reduction through joint value delivery and improvement programs.
(1) CANSOLV is a Shell trademark.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States.
For further information: www.technipenergies.com.
About Shell Catalysts & Technologies
Shell Catalysts & Technologies, part of Shell, is a leading technology licensor and brings owner–operator–innovator–capabilities to the market. It has more than 1,200 references for gas processing technologies at gas plants and refineries worldwide.
It supports Shell and non-Shell businesses by working with them to cocreate integrated, customised solutions comprising licensed technologies, refining and petrochemical catalysts, and technical services.
It was formed by combining Shell Global Solutions, a technology licensor with a track record of delivering pioneering process schemes and innovative configurations; Criterion Catalysts & Technologies, the world’s largest hydroprocessing catalyst supplier; and CRI Catalyst Company, a pioneer in the petrochemical catalyst sector.
It operates across the energy value chain: from upstream, gas processing and liquefied natural gas through to downstream refining and petrochemicals.
For more information, visit www.shell.com/ct.
Important Information for Investors and Securityholders
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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