Stockholm Exergi will participate at the UN’s flagship climate conference COP27 in Egypt as part of a business delegation led by Business Sweden.
From the 7 – 18 of November, the United Nations Climate Change Conference, COP27, will be held in Sharm El-Sheikh, Egypt. This year marks Stockholm Exergi’s second consecutive year at COP27 and its first year in Business Sweden’s delegation of several Swedish companies.
– COP27 is a fantastic arena for us. We will be able to meet companies that, just like us, want to drive development forward and are leaders in technology that will be able to contribute to the climate transition, said Charlotte Lindevall, head of strategic communication at Stockholm Exergi and project manager for the company’s COP27 attendance.
Stockholm Exergi is developing Bio Energy Carbon Capture and Storage (BECCS) technology at its biomass-powered combined heat and power plant Värtaverket in Stockholm. The company currently has a BECCS research facility in place and its goal is to build a full-scale facility that, when completed, will be able to capture 800,000 tons of biogenic carbon dioxide per year – more than the carbon emissions of Stockholm’s road traffic over the course of one year.
Stockholm Exergi’s BECCS project is supported by the EU’s Innovation Fund, an important source of support and one of three streams of revenue that Stockholm Exergi has assessed will be needed to finance the full-scale facility. The other two streams are support from the Swedish government through a so-called reverse auction and revenue from sales of so-called Carbon Removal Certificates (CRC) within a voluntary market for negative emissions.
– COP27 will give us the opportunity to meet companies and other actors who are interested in the potential provided by the negative emissions we aim to produce, said Charlotte Lindevall.
Stockholm Exergi is one of currently 17 Swedish companies who will be part of Business Sweden’s pavilion at the climate summit. Business Sweden has described their delegation as leaders within the climate transition and drivers of the climate agenda thanks to their outstanding green innovations and ambitious sustainability goals.
– Business Sweden’s approach to COP27 is completely in line with our ambitions to broaden our international network and create opportunities for future partnerships, said Charlotte Lindevall.
BECCS has the potential to be a new industry with positive economic effects for Sweden, according to a study that Stockholm Exergi commissioned the consulting firm Implement to conduct. If Sweden were to take advantage of the entire country’s potential to capture and store 30 million tons of carbon dioxide per year, it would lead to 11,500 direct employment opportunities and 28,000 jobs in total if counting indirect employment opportunities. It would also contribute SEK 24 billion to Sweden’s GDP.
Facts about BECCS
Carbon dioxide capture projects are being constructed as an addition to Stockholm Exergi’s biomass-powered combined heat and power plant in the Hjorthagen neighborhood of Stockholm. With its research facility, which has been in operation since 2019, Stockholm Exergi has been able to demonstrate the initiative’s height of innovation with very high levels of energy efficiency and sustainability. Results have displayed an ability to capture close to 90 percent of biogenic carbon dioxide while maintaining high levels of energy efficiency thanks to extensive recycling of heat in Stockholm’s district heating network.
Stockholm Exergi is fully investing in its construction of Europe’s first large-scale facility for negative emissions. When the full-scale facility equipped with BECCS technology is completed, it will be able to capture 800,000 tons of carbon dioxide every year – more than the carbon dioxide emissions of Stockholm’s road traffic over the course of one year. The facility will contribute to net zero targets for Sweden as well as those of Swedish and international businesses.