Exolum acquires stake in SeaSeaS Amsterdam CO2 terminal

Exolum has completed the purchase of a minority stake in SeaSeaS Amsterdam. This project involves the development of a multimodal CO2 export terminal in the Port of Amsterdam.

The operation will accelerate the development of an infrastructure designed to connect industrial emitters in the Amsterdam area and other regions of the Netherlands and Germany with permanent geological storage sites located beneath the North Sea seabed.

CO2 capture is one of the available solutions to reduce emissions from hard-to-decarbonize industrial sectors. However, its large-scale implementation requires infrastructure capable of collecting captured CO2, aggregating volumes from different emitters, and transporting them to their storage destinations.

SeaSeaS Amsterdam, as indicated, aims to become the first open-access CO2 export terminal in Western Europe. Its design contemplates a management capacity of up to 3.5 million tons annually and the reception of CO2 by ship, rail, truck, or pipeline. From Amsterdam, the CO2 will be transported by sea to various permanent storage sites in the North Sea.

This multimodal model will facilitate access to the carbon capture and storage chain for companies of different sizes, including those without a direct pipeline connection. The terminal is expected to commence operations in 2030.

Exolum's participation will bring to the project its experience in the development and operation of large logistics infrastructures, as well as its knowledge in the transport and storage of liquid products. These capabilities will contribute to advancing towards a safe terminal prepared to grow as demand increases.

Nacho Casajús, Senior Vice President of Exolum Global Energy Logistics, stated that "CO2 capture can only be deployed at scale if there are infrastructures capable of efficiently connecting industrial emitters with different permanent storage destinations. SeaSeaS Amsterdam has the potential to become a relevant piece of that chain in Northern Europe." He added that "this project fits perfectly with our strategy to develop infrastructures that facilitate industrial decarbonization. Furthermore, it complements our participation in 7CO2, the CO2 export terminal project we are promoting in the port of Bristol, United Kingdom."

For their part, Kees van Seventer (CEO) and Peter Boers (COO), founders of SeaSeaS, jointly affirmed that "the capture and permanent storage of CO2 can directly contribute to reducing industrial emissions, but this requires facilitating access to efficient infrastructure capable of adapting to different types of emitters" and that, "our goal is to develop an open-access terminal in Amsterdam that connects industry from inland Europe with storage sites in the North Sea. The incorporation of Exolum will strengthen the project's capacity to advance towards its commissioning."

The Port of Amsterdam offers a strategic location for the development of this logistics chain due to its connection with the main industrial areas of the Netherlands and Germany. The terminal will initially allow CO2 to be sent to permanent storage sites and could facilitate its future use as a raw material in projects developed within the port environment.