In Sweden, municipal energy company Öresundskraft AB has announced that its Innozhero carbon capture and storage (CCS) project at its Filbornaverket combined heat and power plant in Helsingborg has been selected to negotiate terms for financial support from the EU Innovation Fund.
The EU Innovation Fund is one of the world’s largest programs for financing and showcasing new technologies that help reduce greenhouse gas emissions. The fund is focused on supporting projects that demonstrate technologies, processes, or products with significant potential to reduce greenhouse gas (GHG) emissions.
The fund can provide up to EUR 40 billion in support over the period 2020 to 2030.
Öresundskraft’s application seeks funding of EUR 54 million. The European Commission has selected Öresundskraft to negotiate the final contract terms and sign a Grant Agreement.
The Innozhero project
Öresundskraft’s carbon capture and storage (CCS) initiative, the Innozhero project – short for ‘Innovation for Zero Emissions in Helsingborg’ – involves building a modern carbon capture facility at its Filbornaverket, a waste-fired combined heat and power (CHP) plant.
The aim is to capture and store approximately 200,000 tonnes of carbon dioxide (CO2) annually from the CHP plant and is a crucial part of the city’s efforts to achieve the goal of net-zero emissions by 2030.
This is an important step in significantly reducing Helsingborg’s emissions and lowering our climate footprint. Öresundskraft’s carbon capture initiative is critical for the city to become climate-neutral and is an excellent example of how the green transition can make a real difference for the city, businesses, and residents, said Christian Orsing, Mayor of Helsingborg.
Once the CO2 is captured, it will transported and stored at a depth of at least 800 meters underground, where it is mineralized and prevented from returning to the atmosphere.
As such Innozhero contributes to local, national, and European climate goals.
The news that the EU Innovation Fund is supporting our project is both a strong acknowledgment of the initiative’s potential and an important driver for continuing our work. A total of 337 projects applied for support, but only 85 projects in Europe were selected. With financial support from the EU Innovation Fund, we have the resources to make a real climate contribution and support a sustainable future for the coming generations. I now look forward to the next step in the process, where we will negotiate the final contract terms with the European Commission and sign the agreement, commented Anders Östlund, CEO of Öresundskraft.
Negative emissions from the biogenic component
The stored CO2 not only helps make the district heating production at Filbornaverket in Helsingborg climate-neutral but also creates negative emissions – the biogenic share of CO2 from the biogenic component of waste.
These negative emissions arise when biogenic carbon dioxide is stored and can be used to offset fossil emissions that are difficult to eliminate despite efforts. These negative emissions can be used by organizations that need carbon offsets in their portfolio to achieve their own net-zero goals.
We are extremely proud to have developed an initiative that not only ensures long-term, climate-neutral district heating and waste incineration but also provides companies and organizations in Helsingborg with a clear opportunity to achieve their net-zero targets. Innozhero is a strong example of how we, together with the city and businesses at the local, national, and international levels, are leading the way in the necessary climate transition and creating sustainable solutions for the future, said Soraya Axelsson, Commercial Manager for CCS at Öresundskraft.
Working toward FID
Intensive preparations are underway ahead of the upcoming final investment decision (FID) required for the CCS initiative to be realized.
The procurement of construction and storage partners is ongoing, and work continues in parallel to secure the necessary permits and financing.
The FID on the implementation of the CCS initiative is expected in 2025.
Helsingborg has set ambitious climate goals, and the CCS initiative is key to achieving them. By combining innovation and local expertise with European support, we are putting Helsingborg on the map as a pioneering city when it comes to sustainable solutions, concluded Anders Östlund.
