A new CO2 capture plant will be built by these two companies at Vestforbrænding in Glostrup. This plant will be expected to have a capture rate of 500,000 tons of CO2 every year.

Due to its Energy Transition Fund I (CI ETF I), CIP will own a majority stake within the joint venture, whilst the construction and operation phase is in place. Further to this, a flue gas agreement has been made between the parties and within this agreement, it has been stated that Vestforbrænding will provide flue gas from waste incineration, whilst the joint venture company will conduct carbon dioxide capture.

Currently, the expectation of the plant is for it to capture an estimated 500,000 tonnes of carbon dioxide from Vestforbrænding's incineration plant. Once the CO2 is captured, it will then be transported and finally, permanently stored underground. It has been shown in figures from 2021, that the captured CO2 corresponds to ~11% of the total CO2 emissions found within the capital area. Through doing this, the project will be directly contributing to the Danish government’s goal of storing 2.4 million tonnes of carbon dioxide by 2030, with an increase to thirty-four million tonnes by 2045.

Along with contributing to the government’s goal, some of the captured carbon dioxide will play a part in achieving Vestforbrænding's goal, which is to achieve CO2 neutrality. Once both of these goals have been catered to, the rest of the CO2 will then be offered to potential buyers who are interested in contributing to climate action. Through this offer, the joint venture anticipates opportunities arising around entering long-term agreement for the sale of credits and the proceeds of these will go towards the project.

Receiving these voluntary credits, provides an excellent opportunity for all kinds of climate-conscious companies to tackle residual emissions, whilst simultaneously contributing to the safe management around residual waste.

A further benefit of this project, is that it will also contribute to Vestforbrænding's district heating roll-out. This is where surplus heat that is produced during the carbon dioxide capture process is then used within the district heating network.

Although the implementation of this project still requires a number of project agreements, this will be a large and important step forwards for Vestforbrænding. It means that they will have made progress towards significantly reducing CO2 emissions from waste incinerations.

CEO of Vestforbrænding, Steen Neuchs Vedel, commented, "It is crucial for Vestforbrænding and our owners that we reduce our direct climate and environmental impact to a minimum. Therefore, our board has set a goal of achieving CO2 neutrality by 2030. We are working resolutely towards this goal, and the partnership with CIP makes us even more hopeful of achieving it. Now our focus is on the collaboration with CIP, so that we can work hard and closely together to establish a CO2 capture plant at Vestforbrænding. The plant will also be a significant contribution to achieving Denmark's climate goals.”

Partner at CIP, Søren Toftgaard, added, "CO2 capture is, together with other technologies, an important part of achieving the net zero goal. We firmly believe that together with a strong partner like Vestforbrænding, we can make a significant contribution to the Danish climate goals. The partnership with Vestforbrænding will enable CIP to expand our experience with CO2 capture, which will benefit the entire fund.”