Baker Hughes Bets on Carbon Pricing Future, Acquires Compact Carbon Capture

Posted on 11/04/2020

Baker Hughes agreed to buy Dutch carbon capture company Compact Carbon Capture. Compact Carbon Capture AS (3C) was founded through the collaboration between Fjell Technology Group AS, Equinor ASA, Prototech AS and SINTEF. The first patent for the technology was granted in 1999 after which it was tested and developed together with several partners including Fjell Technology Group AS and Equinor AS who respectively at different stages led the management of the technology development program between 2007 and 2017. In 2018, 3C was fully established as a company, during which the IP and know-how from both the Equinor and the Fjell Technology Group management periods was fully transferred to 3C.

The agreement includes all intellectual property, personnel and commercial agreements. ABG Sundal Collier acted as advisors to 3C.

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