About Aqualung

Aqualung membrane technology developed at NTNU in Norway. The technology will enable a wider market to deal with their emission challenges.

Our mission

Aqualung seeks to take an active role in the industrial energy transition with a high-performing, all-natural process for capturing CO2.

Aqualung’s mission is to provide the lowest cost, smallest footprint, most environmentally friendly carbon capture solution based on our unique second-generation membrane technology.

Why Aqualung?

  • Industry and heavy transport of any scale need to urgently find solutions to mitigate their carbon footprint.
  • The value of capturing GHG emissions is growing rapidly both in terms of volume and price, creating strong economic incentives for decarbonization.
  • Carbon capture is the only solution that will allow for the utilization of the existing fossil fuel infrastructure while practically eliminating carbon emissions across the transportation, industrial and power markets.
  • The Aqualung carbon capture process facilitates a natural reaction between exhaust gas components which prevents CO2 from going to the atmosphere. It represents a highly sustainable and cost-efficient way of capturing carbon across rapidly growing markets.
  • Traditional technologies have targeted large-scale emitters such as coal power plants in order to drive economies of scale and establish an infrastructure for carbon  monetization.
  • Aqualung focuses on markets where there are currently no cost-effective solutions: Heavy transport, gas turbines, LNG, and smaller-scale industrial plants such as cement and waste-to-energy. These are large markets (<300kt pa)  with stringent requirements for CAPEX and operational sustainability.
  • The patented Aqualung CO2-membrane capture technology has been proven at a cement facility, where it operated above targeted goals for numerous weeks.  Successful feasibility study results from live industrial plants have led to strong positive feedback from future clients.

Unique strengths

  • Low complexity and environmentally friendly – No toxins or absorbents used means significantly lower operating risk and lower maintenance costs over time. This also avoids the logistics and costs of sourcing highly specialized absorbents.
  • Highly efficient – The use of specialized coatings ensures a remarkably more efficient membrane than the current standard, tested as a market leader for permeance and selectivity.
  • Highly favorable energy balance – The integrated system saves significant energy costs compared to other membrane or absorbent-based systems as it requires zero amines or associated desorption energy, with the coatings ensuring substantially reduced driving force.
  • Fully scalable – The modular “Lego technology” can cost-effectively capture carbon even at small scale (<100,000 TPA) and at low CO2-concentration. This unlocks whole new markets for Carbon Capture representing 85% of emitters.
  • Highly compact – With down to 5% of the footprint of a spray tower, the Aqualung can fit into existing plants where space is at a premium, and without major modifications to the exhaust structure or power plant.
  • NTNU partnership – NTNU has selected Aqualung to commercialize the technology worldwide and will continue to lead R&D and further strengthen Aqualung’s competitive position.

Main industries

  • Shipping
  • Cement
  • Onshore and offshore E&P
  • LNG
  • Waste-to-energy

Aqualung co-operates with leading companies across diverse CO2 concentration levels to further develop and optimize its second-generation membrane technology for carbon capture.

Management

Erik M. Mathiesen, CEO

  • Over 25 years of experience in Maritime, Transportation, and Energy Industries.
  • Successful track record of establishing and building businesses.
  • Vast experience from asset management, both operationally and as board member.
  • Currently sits on various boards in energy, fund management, technology and renewables.

 

Henrik Utvik, CTO

  • Master’s degree naval architecture from UCL – London’s Global University.
  • Previously with Royal Dutch Shell with focus on marine engineering, clean tech and marine fuel projects.
  • Coordinated initiatives on LPG as Marine Fuel and IMO2020 and in the LNG Marine Fuel segment and other Clean Energy projects.

 

Andrew Robbins, Executive board member

  • Founding investor in Aqualung.
  • Founder and portfolio manager at Piney Point.
  • Extensive investing experience across the inter-related industrial, energy, agriculture and basic materials sectors.
  • Started investment career at SAC Capital after working at Deutsche Bank in their investment banking group.

News

Careers

We are currently looking to enhance our team. Join us on the path for a greener future, and explore our open positions at Aqualung.

Contact our CEO, Erik M. Mathiesen, erik@aqualung-cc.com

Aqualung Carbon Capture AS

18th Floor, Sørkedalsveien 6

0369 Oslo

Norway

Logo Aqualung Carbon Capture AS