Normod Carbon has secured exclusivity and customers for a phased development of approximately 10 million tonnes of CO2 intermediate storage capacity per annum (mtpa) at Port of Grenaa, Denmark. Operations are planned to start in 2029, with total investments of around EUR 250 million across Phase I and Phase II.
Aggregating volumes at intermediate storage hubs before transportation to dedicated on shore or onshore storage reservoirs typically reduces total CO2 transport and storage costs by over 25%, enabling more carbon capture projects to reach final investment decisions (FIDs) and supporting decarbonisation of hard-to-abate industries.
“Grenaa has the deepwater access, industrial zoning and scalability the CCUS industry needs,” said Jan Lien, CEO of Normod Carbon. “Our agreement enables emitters to share cost-e icient infrastructure instead of building costly standalone solutions – accelerating deployment of carbon capture across the region.”
Normod has signed Letters of Intent (LOIs) with three industrial emitters for 6.4 mtpa. While the LOIs already cover more than the phase I capacity at Grenaa, Normod continues to work on offtake and is in discussions with emitters representing ~35 mtpa of potential volumes across Northern Europe.
More than 80% of Normod’s CO2 portfolio is bio-CCS, supported by durable carbon removal certificates (CDRs) trading at > EUR 200/t – over 3x the average ETS price YTD.
Phase I is a floating terminal planned to be operational in 2029. Phase II adds onshore tank capacity, targeted for 2030, subject to demand. FID for Phase I is targeted in Q1 2027, aligned with Normod’s first customers’ planned FIDs.
With more than 70 million tonnes per year of planned CO2 capture in Northern Europe by 2035, very few industrial regions currently have access to transport and storage. Normod aggregates volumes at its hubs before transporting them to permanent storage with larger ships – enabling shared logistics and lower costs. Port of Grenaa’s deepwater location makes it an attractive gateway for license holders seeking a port to consolidate volumes before shipping them out on large carriers to FSIUs.
The company has secured access to permanent storage capacity and is currently in advanced dialogues with CO2 carrier/FSIU providers, additional permanent storage providers and other strategic ports to expand capacity across the value chain.
“By enabling large-scale CO2 handling, we are creating new opportunities for industry and ensuring our port plays a pivotal role in meeting climate goals,” said Henrik Carstensen CEO of Port of Grenaa. “This partnership positions Grenaa as a key logistics hub in the green transition and supports new industrial activity in the region.”
The Grenaa project qualifies for EU and local grant support, with its shared hub model ensuring cost efficiency and attractive returns.
“The Grenaa CO2 hub represents a major opportunity for the local community and Denmark as a whole,” said Kasper Juncher Bjerregaard, Mayor of Norddjurs Municipality. “It will create skilled jobs, attract new industry to our region, and strengthen Denmark’s role in delivering the climate transition. We are proud to support a project that combines business growth with real impact on global emissions.”
Port of Grenaa is one of Denmark’s largest commercial deepwater ports, strategically located on the Kattegat with deepwater access and modern facilities. The port supports the energy transition through activities in offshore wind, recycling and sustainable fuels.