We are pleased to share that our portfolio company Carbon Centric has entered into a long-term carbon dioxide removal (CDR) offtake agreement with DNV, a leading global assurance and risk management company, headquartered in Norway.

Key terms of the agreement:

• 10,000 tonnes of CDR per year

• Four-year duration, with deliveries starting in 2028

• Three-digit million NOK commitment

• Linked to the BECCS Kirkenær project, developed together with Solör Bioenergi AB (pictured)

This is Carbon Centric’s largest CDR agreement to date and an important commercial milestone. DNV is one of Norway’s leading industrial and technology companies, with deep roots across energy, maritime and certification. Early commitments from a high-credibility counterparty like DNV play a critical role in de-risking BECCS projects and are a key step toward Final Investment Decision (FID) targeted for 2026 at Kirkenær.

Kirkenær will be Carbon Centric’s first carbon removal project, building on operational experience from its CCU plant in Rakkestad. The project is expected to capture around 32,000 tonnes of biogenic CO₂ annually, generating durable, high-quality carbon removal certificates.

At Obligo, we view this agreement as a strong vote of confidence in Carbon Centric’s technology, execution capability, and business model — and as a clear signal that the market for scalable, durable carbon removal is taking shape.

Carbon Centric is targeting 1 million tonnes of annual CO₂ capture capacity by 2030, and partnerships like this are essential to making that ambition investable and real. We look forward to following the continued progress toward FID and execution at Kirkenær.