Denmark grants Aalborg Portland $2.6 billion for CCS
Denmark has awarded cement maker Aalborg Portland 16.5 billion crowns in subsidies to capture and store up to 1.25 million tons of carbon dioxide annually starting in 2030. The project is expected to contribute more than half of the national target for annual carbon capture and storage.
Denmark awarded Aalborg Portland $2.55 billion in subsidies on Tuesday to develop carbon capture and storage (CCS) infrastructure. This 15-year contract supports the Danish goal of reducing greenhouse gas emissions 70% from 1990 levels. The project targets the capture of 1.25 million tons of CO2 annually to decarbonize the country's largest industrial emitter.
### Decarbonizing Hard-to-Abate Industrial Sectors Traditional cement production generates 8% of global industrial CO2 emissions through coal-fired kilns and limestone conversion. Aalborg Portland CEO Soren Holm Christensen stated the project is among the largest industrial carbon capture initiatives in Europe. The facility will receive 875 crowns per captured ton of CO2 to cover capture, transport, and storage costs.
