Welltec role in European 'Green Deal'

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Welltec to assume key role in Denmark energy transition and the European 'Green Deal'

As part of the EU’s Green Deal, The Danish Ministry of Business has assigned Welltec a central role in the Danish committee who will be tasked with allocating financial grants to support the energy transition in Denmark; especially focusing on new technology development within CCUS, PtX and Pyrolysis.

The European Green Deal is a package of policy initiatives, which aims to set the EU on the path to a green transition, with the ultimate goal of reaching climate neutrality by 2050. It supports the transformation of the EU into a fair and prosperous society with a modern and competitive economy.

In Denmark, as part of above initiative, the Fonden for Retfædig Omstilling (The Foundation for Fair Transition) has been established to direct EU funds toward initiatives that yield significant reductions in greenhouse gas emissions while creating green employment and business opportunities.

In recognition of Welltec's 25 year role developing and exporting energy technology combined with Welltec’s initiatives within CCS and geothermal energy technology, Welltec CEO, Peter Hansen, has been appointed chair of the Danish selection committee, whose main role is to select and nominate grant applications in accordance with the EU and Danish government mandate. The total grant available is EUR 85m, to be matched by applying institutions and businesses, ensuring a total financial framework of EUR 190m.

The energy transition projects in focus align with the broad political agreements on Power-to-X, Carbon Capture and Storage (CCS), and sustainable agriculture. By harnessing the EU funds effectively, Denmark aims to take a leading role in combating climate change and fostering sustainable development.

"I am honoured to take on the role of Chairman for the Danish Committee and contribute to Denmark's green and fair transition," said Peter Hansen, CEO of Welltec A/S. "By leveraging the EU funds and collaborating with industry and government stakeholders, we will drive tangible projects that not only reduce emissions but also create green jobs, propelling us toward a more sustainable future."

The committee's inaugural meeting on April 13, 2023, marked the beginning of a collaborative journey dedicated to realizing Denmark's ambitious environmental goals. With their shared vision, industry expertise, and access to substantial EU funds, the committee is poised to make a significant impact on Denmark's green transition.


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. As a well-established and trusted partner to energy industry stakeholders across the globe, Welltec is successfully aiding clients within New Energy and Climate Technology, with a focused approach to help develop geothermal energy, and carbon capture and storage (CCS) projects.

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.