Aker Carbon Capture will deliver a pre-engineering study to the energy company
St1 for the development of a carbon capture facility at Finnsementti's
Lappeenranta cement plant. The captured CO2 would be used for the first
renewable synthetic methanol plant in Finland. Aker Carbon Capture's Just Catch
unit could capture around 40,000 tonnes CO2 per year, enabling the production of
25,000 tonnes of methanol per year.

Aker Carbon Capture is currently delivering the world's first carbon capture
facility at Norcem's cement plant in Brevik, Norway, and will bring learnings
from this project into the study for the Finnsementti carbon capture plant.

"We are excited to enter the Finnish market and deliver a study for the
promising Power-to-X market. Renewable synthetic methanol can replace fossil
fuels used in maritime and road transport," says Valborg Lundegaard, Chief
Executive Officer at Aker Carbon Capture. "We are dedicated to help decarbonize
the hard-to-abate cement industry through our proven and proprietary carbon
capture technology. Finland has a strong ambition to go climate neutral by 2035,
and we are ready to support Finnish industry on its decarbonization journey,"
she continues.

Today, on an industrial scale, methanol is predominantly produced from natural
gas by reforming the gas with steam and then converting and distilling the
resulting synthesized gas mixture to create pure methanol. The synthetic
methanol production plant in Lappeenranta would use the hard-to-abate carbon
dioxide emissions from the limestone raw-material at the Finnsementti factory.
The other raw material needed is low-carbon hydrogen produced in an electrolysis
process involving wind power and water. E-methanol is produced in the synthesis
of captured carbon and low-carbon hydrogen.

"At St1 we see Aker Carbon Capture as a potential technology supplier with
significant experience to support us in the St1 Power-to-Methanol Lappeenranta
project. We seek solutions that offer a high technology readiness level which
can be heat integrated into cement plant processes. Another part of the co
-operation will be to study CO2 liquefaction and on-site storage options to
secure the methanol plant operation, in case when CO2 is not available from the
flue gas of the cement plant," says Riitta Silvennoinen, Head of Energy
Transition Business at St1.

"We're looking forward to working together with St1, who aim to be frontrunners
in the production of renewable synthetic methanol. This collaboration marks the
start of our carbon capture journey in Finland, offering many opportunities,"
says Joel Flitton, Sales Director Sweden and Finland at Aker Carbon Capture.

ENDS

About the St1 Power-to-Methanol Lappeenranta project
St1 researches and develops economically viable, environmentally friendly
sustainable energy solutions and sees Power-to-X as an interesting possibility
to help decarbonize the transport sector. It has extensively studied the
potential of using and producing various Power-to-X products, such as synthetic
methanol, green ammonia, and synthetic kerosene.

St1 is aiming to start producing synthetic methanol by 2026. The Finnish
Ministry of Economic Affairs and Employment has granted this project a
conditional funding of EUR 35.4 million, awaiting approval from the European
Commission. Funding is provided by the European Recovery and Resilience
Facility.

More information about the project is available on St1's website:

https://www.st1.com/st1-is-planning-a-synthetic-methanol-pilot-plant-in
-lappeenranta-finland

Media contacts:
Aker Carbon Capture
Yannick Vanderveeren, Head of Communications
mob: +47 458 36 358 (http://tel:+47 458 36 358),
email: yannick.vanderveeren@akercarboncapture.com

St1
Riitta Silvennoinen, Head of Energy Transition Business
mob: +358 50 589 3036, email: riitta.silvennoinen@st1.com
Investor contacts:
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
david.phillips@akercarboncapture.com
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
christian.yggeseth@akerhorizons.com

Aker Carbon Capture is a pure-play carbon capture company with solutions,
services and technologies serving a range of industries with carbon emissions,
including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen
segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a
unique, environmentally friendly solution for removing CO2 emissions.

Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect
with us on LinkedIn (https://www.linkedin.com/company/aker-carbon
-capture), Facebook (https://facebook.com/akercarboncapture),
Twitter (https://twitter.com/akercarbon),
Instagram (https://www.instagram.com/akercarboncapture/) and
YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press
release may include forward-looking information or statements and is subject to
our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).

St1 Nordic Oy is an energy Group whose vision is to be the leading producer and
seller of CO2-aware energy. The Group researches and develops economically
viable, environmentally friendly sustainable energy solutions. St1 focuses on
the fuel marketing activities, oil refining and renewable energy solutions, such
as advanced biofuels and industrial wind power. The group has 1,290 St1 and
Shell branded service stations and?gas filling points in Finland, Sweden and
Norway. Headquartered in Helsinki, St1 currently employs more than 1,200
people.?www.st1.com