Nysnø invests in 44.01's innovative carbon removal technology to accelerate global CO₂ reduction
Published: Stavanger, 07. February 2025
Stavanger, 7.februar 2025 – Nysnø Climate Investments (Nysnø) is investing in the pioneering carbon removal company 44.01, which has developed an innovative solution for permanently storing CO₂ in ultramafic rock formations. This technology addresses a key bottleneck in scaling carbon removal globally and represents a significant step towards reducing greenhouse gas emissions in hard-to-abate sectors.
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– 44.01’s technology provides a decentralized and scalable solution for carbon storage, with the potential to store millions of tonnes of CO₂ annually. We look forward to supporting their international expansion and contributing to a faster transition to a low-emission society, says John Egil Johannesen, Investment Manager at Nysnø Climate Investments.
Cutting-edge technology with global potential
44.01’s method involves injecting CO₂-enriched water into deep rock formations, where the carbon is permanently mineralized. This technology has already been successfully demonstrated through pilot projects in the Middle-East, with a promising project pipeline, including partnerships with ADNOC.
– We are proud to have Nysnø on board. Their support and expertise will be crucial in our continued growth journey. Together, we can accelerate the deployment of our technology and contribute to significant global greenhouse gas reductions, says Talal Hasan, CEO of 44.01.
Climate goals and Norway’s strategic relevance
Norway holds significant competitive advantages in carbon storage, including expertise from the oil and gas sector and geological formations well-suited for CO₂ mineralization. The investment in 44.01 aligns with Norway’s goal of reducing emissions by at least 55% by 2030. The company has established itself in Norway and also has Equinor as a shareholder.
With this investment, Nysnø continues to strengthen its portfolio with companies playing a key role in the global energy transition.
Strong investor consortium
44.01 is backed by a robust consortium of investors, including renowned names such as Equinor Ventures, Amazon, Sumitomo, Siemens, Air Liquide, Apollo Projects, and Breakthrough Energy Ventures. This consortium provides both financial strength and strategic support to the company’s long-term objectives.
For more information:
Nysnø: John Egil Johannessen, Investement Manager, john.egil.johannessen@nysnoinvest.no, +47 93417682
44.01: Charlie Booth, Chief Corporate Affairs Officer, charlie@4401.earth, +968 9255 1597