Aqualung Carbon Capture
Aqualung Carbon Capture is a Norwegian climate technology company founded in 2021 that builds modular membrane-based carbon capture units for hard-to-abate industrial emitters across cement, refining, natural gas, marine, and steel sectors, using proprietary non-pressurized facilitated transport technology from 20+ years of NTNU research.
- Company typePrivate
- Founded2021
- HeadquartersOslo, Norway
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Aqualung Carbon Capture does
Aqualung Carbon Capture is a Norwegian climate technology company founded in 2021 that develops and commercializes industrial-scale carbon capture units based on a proprietary non-pressurized facilitated transport membrane technology. The technology originates from over 20 years of research at the Norwegian University of Science and Technology (NTNU) and uses coated hollow-fiber membranes with fixed and mobile amine carriers to passively separate CO2 from industrial flue gas using water vapor as a carrier. This eliminates the need for toxic absorbents, steam regeneration, and external pressurization, enabling capture at small scale (below 100,000 tonnes per annum) and at low CO2 concentrations where conventional amine-based systems are technically or economically unviable. The architecture is delivered as modular, containerized "Lego technology" units with a footprint approximately 5% that of a conventional absorption column.
Aqualung serves hard-to-abate industrial emitters across cement and lime, refineries and petrochemicals, natural gas processing, waste-to-energy, shipping and offshore, and steel and coal sectors. Its product portfolio includes the core Aqualung Membrane Carbon Capture System, containerized modular capture units, the co-branded ecoCPTR onboard marine system developed with Babcock Marine Sector (granted Lloyd's Register Approval in Principle), and project-specific pilots such as the 700 tpa demonstration at the Standard Lithium/Mission Creek natural gas processing site in Arkansas and the 200,000 tpa commercial unit proposed for a US petrochemical facility. The company is headquartered in Høvik, Norway with a US office in Milwaukee, Wisconsin, and is backed by strategic investors including Nitto Denko, Denbury, Standard Lithium, Golar LNG, ExxonMobil (board observer), Delek, Babcock's LGE, and Tüpraş Ventures.
The company pursues a multi-channel commercial model combining direct enterprise sales to industrial emitters with strategic channel partnerships for distribution, infrastructure access, and manufacturing scale-up. Revenue mechanics span equipment sales of modular capture units, licensing of thin-film coating IP (with Nitto Denko handling manufacturing scale), and managed-service offerings covering the full capture-to-sequestration value chain through partnerships with Denbury (US pipelines) and Victrol (European CO2 barging). Pricing is custom and project-based, structured as multi-year contracts with enterprise customers. Aqualung has deployed multiple pilot units across cement, natural gas processing, and waste-to-energy applications and is transitioning to commercial-scale deployments, including the Nordkalk industrial-scale facility with SigmaRoc in Scandinavia.
Aqualung Carbon Capture firmographics
Firmographics- Name
- Aqualung Carbon Capture
- Legal name
- Aqualung Carbon Capture AS
- Website
- https://aqualung-cc.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Aqualung Carbon Capture is a Norwegian climate technology company founded in 2021 that builds modular membrane-based carbon capture units for hard-to-abate industrial emitters across cement, refining, natural gas, marine, and steel sectors, using proprietary non-pressurized facilitated transport technology from 20+ years of NTNU research.
- Ownership category
- akta.pro rank
Aqualung Carbon Capture industry classification
Industry- Product category
- Industrial Carbon Capture Equipment
- NAICS
- Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413), Measuring, Dispensing, and Other Pumping Equipment Manufacturing (333914)
- SIC
- Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)
- akta.pro primary industry
- Post-combustion Capture Systems (Membranes & Hybrid Membrane Processes) (EUABAGAC)
- akta.pro secondary industry
- Industrial Carbon Capture Integration & Retrofit Engineering (Capture-Ready, Balance-of-Plant) (EUABAJAJ)
Keywords
Where Aqualung Carbon Capture is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Aqualung Carbon Capture business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure
Revenue model
- Carbon Capture Equipment Sales: Sale of modular carbon capture units to industrial emitters. Units can be deployed as containerized solutions with plug-and-play integration. Revenue from equipment sales and installation.
- Thin-Film Coating IP Licensing: Focus on core intellectual property in thin-film coatings while manufacturing partner (Nitto Denko) handles scale-up and production. Licensing of coating materials and processes.
- CO2 as a Service: Full service offering from fully installed carbon capture unit all the way down to sequestration/utilization. Complete value chain solution covering capture, logistics, and sequestration.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom enterprise pricing based on facility requirements |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
Aqualung Carbon Capture product offering
Product offeringCore offering
Aqualung Carbon Capture designs, manufactures, and deploys modular, non-pressurized membrane-based carbon capture units for industrial emitters. The system uses coated hollow-fiber membranes with amine carriers to passively separate CO2 from industrial flue gas, without toxic absorbents, regeneration energy, or steam requirements. Product offerings include the core membrane carbon capture system, containerized plug-and-play units for industrial sites, and a co-branded maritime carbon capture system (ecoCPTR) integrated with Babcock Marine Sector.
Product overview
Aqualung Carbon Capture offers a portfolio of membrane-based CO2 capture and separation products centered on its proprietary non-pressurized facilitated transport membrane technology. The core offering is the Aqualung Membrane Carbon Capture System, a first-of-a-kind technology using hollow-fiber membranes coated with amine-containing polymer layers to passively separate CO2 from industrial flue gas. This core system serves as the foundation for multiple product variants and integrations: containerized modular units deployed at industrial sites (e.g., cement kilns, lime kilns, natural gas processing), the co-branded ecoCPTR onboard marine carbon capture system developed with Babcock – Marine Sector, and R&D test rigs for diesel engines. The company's products target hard-to-abate industrial emitters across chemicals and refineries, cement and lime, natural gas processing, waste-to-energy, shipping and offshore, and steel and coal sectors. The modular architecture allows phased roll-outs from small scale (<100,000 TPA) to large commercial deployments.
Differentiator
Problem solved
Functional benefit
Products and services
- Aqualung Membrane Carbon Capture System A first-of-a-kind non-pressurized facilitated transport membrane system that uses highly efficient hollow-fiber membranes coated with thin polymer layers containing fixed and mobile amine groups to passively separate CO2 from industrial flue gas using water vapor as a carrier. The system captures CO2 in two stages (bulk separation and purity refinement), targeting a 99% purity CO2 stream for sequestration or utilization, and serves hard-to-abate industrial emitters across cement, lime, refineries, natural gas processing, waste-to-energy, shipping, and steel/coal sectors.
- ecoCPTR Onboard Carbon Capture System Babcock Marine Sector's onboard carbon capture system integrating Aqualung's membrane technology, branded as ecoCPTR. Features low-pressure, modular design with seamless retrofit or newbuild ship installation, targeting maritime decarbonization with scalable capture rates up to 90% for ETSI compliance. Approval in Principle granted by Lloyd's Register.
- Aqualung Containerized Carbon Capture Unit Modular, pre-fabricated, shipping container-sized carbon capture units designed for plug-and-play integration at industrial plant sites. Each unit is capable of capturing up to 25% of a typical kiln's process emissions, with the modular 'Lego technology' approach allowing cost-effective scaling by simply adding more units to capture additional emissions at small-scale (<100,000 TPA) and low CO2 concentration sites.
Quantifiable outcome
- Captures 25% of typical kiln process emissions per shipping container-sized unit
- +4 more outcomes
Companies that use Aqualung Carbon Capture
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles5 records
Aqualung Carbon Capture technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Aqualung Carbon Capture partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major and core.
- Babcock Marine Sector (LGE)majorIntegration of Aqualung's membrane technology into Babcock's ecoCO2 system (ecoCPTR) for maritime decarbonization. Lloyd's Register Approval in Principle received. Liquid Gas Equipment Ltd (wholly owned by Babcock) invested in Phase 1 2025 financing.
- Nitto Denko CorporationcoreJoint Development Agreement and significant equity investment. Nitto Denko provides advanced R&D capabilities, commercial scale manufacturing, and membrane thin-film coating expertise. Goal is to deliver industry-leading cost efficiency for carbon capture with demonstration trials planned for fiscal year 2026.
- Denbury InccoreStrategic carbon capture and sequestration partnership with world's largest CO2 pipeline operator. Denbury made equity investment in Aqualung. Partnership provides access to 14 million metric tons per year of CO2 within 1 mile and 240 million metric tons per year within 30 miles of Denbury pipelines. Target to begin commercial CO2 transportation in 2024.
- SigmaRocmajorAgreement to install Europe's first industrial-scale carbon capture facility using Aqualung's technology at Nordkalk in Scandinavia (Q1 2023). Full roll-out planned across all SigmaRoc operating kilns before 2030. Each container-sized unit captures up to 25% of kiln process emissions.
- VictrolmajorPartnership to develop integrated CCUS solutions including CCUS logistics and onboard capturing and storing of CO2. Victrol provides CO2 barging solution for inland and coastal European waterways. Goal to demonstrate fully decarbonized CO2 logistics chain through onboard CO2 capture.
- Mission Creek Resources LLCcoreOwner and operator of Dorcheat Macedonia natural gas processing facility in southern Arkansas hosting the pilot carbon capture project. Partnership enables deployment of Aqualung pilot unit taking slipstream of flue gas.
- Standard LithiumcorePilot project collaboration for carbon capture at natural gas processing site in southern Arkansas. Standard Lithium funded and initiated the project with Aqualung providing pilot unit. CO2 stream utilized in Standard Lithium's R&D activities. Standard Lithium invested $2.5M as part of $10M funding round.
- Norwegian University of Science and Technology (NTNU)coreR&D partnership where NTNU spent 20+ years developing membrane technology that Aqualung now commercializes. Aqualung is honored to have NTNU as its R&D partner for continued technology advancement.
- ExxonMobilmajorCommercial pilot planned at ExxonMobil Delhi site from 2026 with upscaling from Standard Lithium pilot. Abhinav Charan from ExxonMobil serves as Board observer.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Aqualung Carbon Capture competitors and assessment
Company assessmentDirect peers
- Aker Carbon Capture: Norwegian-headquartered direct competitor also selling modular post-combustion carbon capture units to industrial emitters (cement, waste-to-energy, gas processing). Competes head-to-head against Aqualung in Europe with amine/solid sorbent technology, and is the closest analogue on geography, customer profile, and technology maturity.
- Carbon Clean: UK-based point-source industrial CCS company selling modular CycloneCC capture units using a proprietary solvent to hard-to-abate sectors (cement, steel, refineries, oil & gas). Targets the same small-to-mid scale emitter segment as Aqualung with comparable containerized, retrofit-friendly technology.
- Climeworks: Swiss leader in direct air capture (DAC) using sorbent-based technology. Different capture point (atmospheric vs. flue gas) but competes for the same industrial decarbonization budgets and corporate offtake contracts, and serves as a comparable carbon-capture pure-play with global deployment footprint.
Broad incumbents
- Mitsubishi Heavy Industries: Established Japanese industrial conglomerate with the KM CDR Process, the most commercially deployed post-combustion amine capture technology globally. Competes against Aqualung for large cement, power, and petrochemical CCS projects but operates at much larger scale and as part of a diversified engineering portfolio.
- Honeywell UOP: Honeywell's process technology arm offering solvent-based (Honeywell UOP SELEXOL, MDEA) and adsorbent CO2 capture solutions for petrochemical, refining, and gas processing customers. Overlaps with Aqualung's natural gas processing and refinery targets as a deeply entrenched incumbent with global EPC channels.
- Linde plc: Global industrial gases major offering large-scale CO2 capture, hydrogen production, and CCUS infrastructure. Competes for the same refinery, gas processing, and steel customers as Aqualung but as part of a multi-billion-dollar gas portfolio rather than a focused membrane play.
Emerging players
- CarbonCapture Inc. US-based direct air capture startup backed by Oxy and others, focused on solid sorbent modular capture units. Different capture point (DAC vs. point source) but comparable company stage, modular technology approach, and industrial emissions decarbonization mission.
- Heirloom Carbon Technologies: US-based DAC company using limestone-based looping capture technology. Competes in the broader carbon removal market and for climate-tech capital with Aqualung, though it addresses atmospheric rather than point-source CO2.
- CarbonCure Technologies: Canadian company injecting captured CO2 into concrete during production to permanently mineralize it. Direct overlap with Aqualung's cement customer segment (e.g., SigmaRoc, Nordkalk) and represents an alternative decarbonization pathway for cement producers.
- Charm Industrial: US carbon removal company converting biomass into bio-oil and sequestering CO2 underground. Competes with Aqualung for corporate carbon removal offtake contracts and high-profile climate-tech funding despite a fundamentally different sequestration pathway.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Aqualung Carbon Capture social profiles
Digital presenceAqualung Carbon Capture financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aqualung Carbon Capture leadership team
Management profileNumber of profiles
Profiles5 records
Aqualung Carbon Capture funding detail
Funding detailFunding overview
Funding rounds5 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aqualung Carbon Capture M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aqualung Carbon Capture
What does Aqualung Carbon Capture do?
Aqualung Carbon Capture designs, manufactures, and deploys modular, non-pressurized membrane-based carbon capture units for industrial emitters. The system uses coated hollow-fiber membranes with amine carriers to passively separate CO2 from industrial flue gas, without toxic absorbents, regeneration energy, or steam requirements. Product offerings include the core membrane carbon capture system, containerized plug-and-play units for industrial sites, and a co-branded maritime carbon capture system (ecoCPTR) integrated with Babcock Marine Sector.
Is Aqualung Carbon Capture a public or private company?
Aqualung Carbon Capture is a private company. It is classified as venture growth investor backed and is currently operating.
When was Aqualung Carbon Capture founded?
Aqualung Carbon Capture was founded in 2021. It employs 1 to 10 people.
Where is Aqualung Carbon Capture based?
Aqualung Carbon Capture is headquartered in Oslo, Norway, in the Europe region.
How does Aqualung Carbon Capture make money?
Three revenue lines are on record. Carbon Capture Equipment Sales are the primary driver. The others are thin-Film Coating IP Licensing and CO2 as a Service.
Who are Aqualung Carbon Capture's main competitors?
Direct peers on record are Aker Carbon Capture, Carbon Clean and Climeworks. Broad incumbents are Mitsubishi Heavy Industries, Honeywell UOP and Linde plc. Emerging players are CarbonCapture Inc., Heirloom Carbon Technologies, CarbonCure Technologies and Charm Industrial.
Does Aqualung Carbon Capture have an API?
No public API is recorded for Aqualung Carbon Capture.
What industry is Aqualung Carbon Capture in?
Aqualung Carbon Capture's product category is Industrial Carbon Capture Equipment. Its primary akta.pro industry code is EUABAGAC, Post-combustion Capture Systems (Membranes & Hybrid Membrane Processes), with a secondary code of EUABAJAJ, Industrial Carbon Capture Integration & Retrofit Engineering (Capture-Ready, Balance-of-Plant). Its NAICS code is 333413 and its SIC code is 3564.