How are we going to transport CO₂ from industrial capture in a flexible and safe way to the storage sites? This question is central to Europe’s climate efforts – and that is exactly the challenge that IC Technology wants to solve.
The company is a new member of Aggrator and was founded by Otto Skovholt, who has, among other things, researched cryogenic storage technology and CO₂ transport at Statoil (now Equinor) back to the 1990s. The company has recently changed its focus from liquid hydrogen to liquid CO₂, and appointed Espen Krogh as CEO. He has extensive experience as an entrepreneur and manager, including as CEO and CTO at the technology company Prediktor (now part of TGS).
IC Technology is developing a new type of tank for liquid CO₂. These tanks can carry about 40 percent more than current solutions and are built as standard ISO containers. This means that captured CO₂ can be transported by regular container ships and logistics services – a flexible solution that makes transportation much easier and cheaper.
Together with a digital platform that documents content, ensures purity, and ensures compliance with new regulatory requirements, the solution provides a flexible and scalable way to build out the entire CCS value chain (Carbon Capture and Storage) in Europe.
– We see a great need for more cost-effective and flexible solutions for CO₂ transport. Our technology can reduce both capital and operational costs, as well as reduce lead time in connecting capture to storage, thereby helping to accelerate the deployment of CCS in Europe, says CEO Espen Krogh.
IC Technology’s solution is specifically aimed at smaller and medium-sized fishing facilities. These make up 90% of all future fishing facilities in Europe, and currently these face challenges in finding a storage destination and obtaining direct agreements with the major storage hubs, as these focus on the 10% largest fishing facilities.
The background is that industrial companies increasingly have to pay for their CO₂ emissions. New regulations and investments in capture and storage are making Europe heavily invest in this area. Over 100 billion euros have already been allocated to support schemes, where companies can have their equity capital more than doubled through EU funding.
IC Technology has received support from the CLIMIT program and is now planning a feasibility study in 2025, together with companies such as DNV, Sintef, Leirvik, and Kingsrød. Pilot projects are scheduled to begin in 2026, with commercial operation expected in 2027.
At Aggrator, we look forward to working closely with IC Technology on this journey. Salvador Baille will become the company's Key Account Manager for us.
The photo is AI generated and shows from left to right Espen Krogh (CEO), Otto Skovholt (founder and board member), Rolf Sørli (board member) and Steinar Sælid (owner) and Sturle J Berg (chairman of the board).