AF Gruppen invests in CO2 handling

AF Gruppen has entered into a final agreement to purchase shares in the energy technology company RCO2 AS. The agreement will over a three-year period ensure AF 51% of the shares in the company.

RCO2 develops technology for energy efficiency, recycling and recirculation of CO2. Through this technology energy can be produced with much higher efficiency than existing concepts, while CO2 submissions will decrease by 60-90%. The technology has many areas of use: from gas turbines to coal-fired power plants and car engines.

The company carries out research projects at reputable universities and research communities in USA and France, and several parts of the technology is in process of being patented.

- RCO2 is an exciting research community which needs to finance the development of their products during the next two years. AF has gained the opportunity to invest in the company, and will contribute to further development and commercialisation of the technology. This technology has great potential and will be part of our business area Energy, says Pål Egil Rønn, CEO of AF Gruppen.