HERACLES signs contract for major carbon capture project in Greece
The Olympus project aims to establish one of Europe's largest carbon capture and storage operations at the Milaki plant, with ambitions to capture 1 million tons of CO2 annually.
HERACLES, a subsidiary of the Holcim Group, has initiated a major advancement in carbon capture and storage with the signing of a Front-End Engineering Design (FEED) contract with Air Liquide Engineering and Construction. This development pertains to the Olympus project, tailored for the Milaki plant in Greece. The initiative aims to capture, liquefy, store, and transport an impressive 1 million tons of carbon dioxide (CO2) annually, establishing it as one of the largest carbon capture and storage operations in Europe.
Set to commence full-scale operations by 2029, the Olympus project secured a notable grant from the EU Innovation Fund earlier this year, indicating strong support for its ambitious goals. The collaboration with Air Liquide is expected to play a vital role in harnessing advanced technologies, including the use of oxygen enrichment and cryogenic separation methods, aiming to effectively integrate CO2 capture systems into the existing infrastructure of the HERACLES plant.
Once captured, the CO2 will be liquefied and shipped by sea to the Prinos offshore sequestration facility, which is located in the northern Aegean Sea, further enhancing the project's logistical capabilities.
The signing of the FEED contract is seen as a significant milestone towards the final investment decision (FID) for the Olympus project. It reflects HERACLES’ commitment to achieving net-zero emissions and reinforces its role in the decarbonisation efforts within the industry. Dimitris Chanis, CEO of HERACLES, noted the significance of this partnership, stating, “This collaboration with Air Liquide embodies a shared vision of innovation and environmental responsibility.”
The FEED study will meticulously outline the project's technical demands, layout, and anticipated investment costs, thereby establishing a clear path forward for equipment acquisitions and construction phases. HERACLES envisions the Olympus CCS project as an essential measure in progressing its net-zero ambitions while actively contributing to the broader energy transition towards increased sustainability in the sector.
As the project develops, it underscores the ongoing global efforts to combat carbon emissions and highlights the critical role that innovative partnerships play in tackling climate change challenges.
Source: Noah Wire Services