Significant funding awarded to Carbon Capture Storage (CCS) project

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Mette Lind Fürstnow
+45 6114 1849

Project Greensand receives government funding of 197 million DKK

The Danish Energy Agency announced yesterday that 197 million DKK is to be awarded to the consortium behind Project Greensand, an ambitious full value chain demonstration project for offshore Carbon Capture Storage (CCS) in the North Sea.

“The announcement confirming the EUDP grant award is highly appreciated and we are ready to start working on the project so we can help reach the climate ambitions of 70% reduction in CO2 emissions by 2030,” says Mette Fürstnow, Solutions Director for Green Initiatives, Welltec. 

The project now enters the proof-of-concept phase, where Welltec® will be the project manager for the conceptual well design, material testing and selection. Testing of well materials will take place at Welltec’s facility in Esbjerg, and support the acceleration and commercialization of the new full-scale CO2 test loop, one of Europe’s largest.

Project Greensand
A consortium of 29 companies is behind Project Greensand, led by INEOS Energy and Wintershall Dea.  The ultimate goal is to create safe and permanent CO2 storage in Danish North Sea fields, with a storage potential for 0.5 to 1 million tonnes of CO2 per year from 2025, and then 4 to 8 million tonnes of CO2 per year by 2030.

About Welltec

Welltec® is a global technology company that develops and provides efficient, hi-tech solutions for the energy industry.

The company was founded in 1994 and grew rapidly by supplying innovative robotic technology to oil and gas operators. In 2010, Welltec introduced a new business segment focused on the development of Completion products. Commercialization of these products began in 2014, and the company is now a global leader in the field of metal expandable packer technology. Welltec’s cutting-edge products and services are designed to optimize the performance and integrity of a well, in any environment.

Through advanced engineering and lightweight design, Welltec’s solutions have helped clients increase operational efficiency and reduce carbon footprints in a safe and sustainable way for more than 25 years.