Alleima receives carbon capture and storage breakthrough order

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Published
2022-12-28
Categories

Alleima has received an order of Oil Country Tubular Goods (OCTG) tubes to be used for a carbon capture and storage (CCS) project. Through this breakthrough order, Alleima enters a new market, which is an important milestone to drive profitable growth by capitalizing on the green transition.

Carbon capture and storage (CCS) is the process of capturing CO2 from heavy industry and energy plants, transporting it, and storing it in underground geological formations. The aim is to prevent the release of CO2 and minimize the effects of climate change. The number of CCS fields in operation are currently limited but project announcements are increasing rapidly, as countries, and energy companies in particular, aim to meet 2050 net-zero target.

“We are excited to have taken this order and we believe that the market for the technology of carbon capture and storage will continue to grow. This is one example of how our advanced materials and products enable new technologies that contribute to the green transition”, says Michael Andersson, President of Tube division.

The order that was received in the fourth quarter of 2022 relates to OCTG tubes in the material SAF 2507, which will be used to control the pressure and keep the CO2 in place. It is valued at about SEK 40 million, with deliveries scheduled for the first half of 2023.

“Similar products that our customers today use for oil and gas extraction, will now be used for carbon capture solutions. We are looking forward to the coming developments”, says Nigel Haworth, President of Business Unit Energy.

Sandviken, December 28, 2022

Alleima AB (publ)

Contact details
Yvonne Edenholm, Press and Media Relations Manager
yvonne.edenholm@alleima.com
Phone: +46 (0) 72 145 23 42

Emelie Alm, Head of Investor Relations
emelie.alm@alleima.com
Phone: +46 (0) 79 060 87 17

About Alleima
Alleima, formerly Sandvik Materials Technology, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industry, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden and revenues of SEK 13.8 billion in 2021, has more than 5,500 employees and customers in approximately 90 countries. Alleima was listed on Nasdaq Stockholm on August 31, 2022, under the ticker ‘ALLEI’. Learn more at alleima.com