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Danish Energy Agency Allocates New Funds to Support the Capture and Storage of Biogenic CO₂ in Denmark
25th April 2024
On 17 April, the Danish Energy Agency awarded funding to three companies, namely BioCirc CO₂ ApS, Bioman ApS, and Carbon Capture Scotland, to support carbon capture and storage (CCS) projects expected to contribute to the development of the CCS value chain in Denmark.
As part of the fund for negative emissions via CCS (NECCS fund), the Danish Energy Agency will allocate a total of Dkr166.6 million to the three CCS projects on an annual basis between 2026 and 2032. The projects are expected to collectively capture and store 160,350 tonnes of biogenic CO2 per year during the contract period.
The announcement follows the European Commission approval of a €350 million (DKK 2.6 billion) Danish scheme under the EU State aid rules, aimed to incentivise the deployment of technologies able to capture, transport and store biogenic or atmospheric CO2.
The three CCS projects will contribute to Denmark’s efforts towards achieving negative emissions and be an important component of the country’s overall climate mitigation strategy.
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