Knutsen NYK Carbon Carriers

What Knutsen NYK Carbon Carriers does

Knutsen NYK Carbon Carriers AS (KNCC) is a private joint venture established in January 2022 between Norway's Knutsen Group (50%) and Japan's NYK Line (50%), headquartered in Haugesund, Norway. The company is the dedicated platform for both shareholders to develop and execute liquefied CO2 (LCO2) marine transportation and storage solutions, serving industrial emitters, CCS project operators, and energy companies across Europe, East Asia, Oceania, and Southeast Asia. Revenue mechanics are not yet commercial — KNCC is at the MoU, feasibility study, and industrialization phase, with no disclosed revenue or external funding rounds; expected future streams include long-term enterprise contracts for marine CO2 transport and technology licensing of its proprietary LCO2-EP containment system.

KNCC's core offering centers on its proprietary LCO2-EP (Liquefied CO2 – Elevated Pressure) technology, which transports and stores liquefied CO2 at ambient temperatures (0–10°C) and elevated pressures (34–45 barG), avoiding the energy penalties of cryogenic/liquefaction systems. The technology is derived from Knutsen's PNG (Pressurized Natural Gas) platform developed over 20 years ago, now with a patent application filed for the LCO2-EP Cargo Tank. Supporting products include modular Cargo Tank Cylinders (CTCs) designed for automated serial production at existing pipe-manufacturing facilities, Floating Liquefied Storage Units (FLSU) for offshore liquefaction and temporary storage, Direct Injection Offshore (DIO) vessels enabling injection without onshore terminal infrastructure, and Conventional Medium Pressure (MP) and Low Pressure (LP) transport options. The technology stack is validated by Approvals in Principle and a GASA from DNV (2022, 2023), plus AiPs from ABS, ClassNK, and Lloyd's Register (all 2025).

The business operates as a B2B enterprise targeting CCS/CCUS value-chain participants through direct engagement, partnership-driven project development, and industry event participation. Anchor projects include the Trudvang CCS project on the Norwegian Continental Shelf with Vår Energi and Aker Solutions (2 Mtpa initial, scalable to 20+ Mtpa via the Utsira Formation) and the Cliff Head CCS Project in Western Australia with Pilot Energy (~8 Mtpa decarbonization target). The go-to-market leverages the parent companies' tanker and decarbonization expertise plus an expanding partner network spanning classification societies (DNV, ABS, ClassNK, Lloyd's), engineering firms (Aker Solutions, Chiyoda), steel suppliers (SeAH, JFE Shoji), shipyards (COSCO, Nihon Shipyard), and energy operators (PETRONAS CCS Solutions, JX, ENEOS Xplora).

Name

Knutsen NYK Carbon Carriers

Legal name

Knutsen NYK Carbon Carriers AS

Website

https://kn-cc.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Knutsen NYK Carbon Carriers (KNCC) is a 50/50 joint venture between Norway's Knutsen Group and Japan's NYK Line that develops marine CO2 transportation and storage solutions for industrial emitters and CCS project operators, anchored by proprietary LCO2-EP elevated-pressure shipping technology and global classification-society approvals.

Ownership category

akta.pro rank

Product category

Marine CO2 Transportation Services

NAICS

Marine Cargo Handling (488320)

akta.pro primary industry

CO₂ Shipping & Marine Transport (Liquefaction, Carriers, Terminals) (EUABAHAB)

akta.pro secondary industry

LPG & Ammonia Carrier Shipbuilding (IMAJAAAE)

Keywords

• CO2 marine transportation
• Carbon capture storage
• Liquefied CO2 shipping
• CCS value chain solutions
• LCO2 carrier vessels

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Supply Chain, Personnel, Operations

Revenue model

1. LCO2 Marine Transportation Services: KNCC provides marine transportation of liquefied CO2 for CCS projects globally. The company offers transportation at elevated pressure (EP), medium pressure (MP), and low pressure (LP) modes. Revenue is generated through long-term contracts with industrial emitters and CCS project operators.
2. Technology Licensing: KNCC licenses its proprietary LCO2-EP technology to shipbuilders and other partners for vessel construction and CCS infrastructure development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

KNCC provides marine transportation and storage of liquefied CO2 for carbon capture and storage (CCS) projects globally, using its proprietary LCO2-EP (Liquefied CO2 - Elevated Pressure) containment technology that transports CO2 at ambient temperatures (0-10°C) and elevated pressures (34-45 barG). The company offers specialized LCO2 carrier vessels equipped with dynamic positioning, modular Cargo Tank Cylinders, Floating Liquefied Storage Units, Direct Injection Offshore capability, and Medium Pressure and Low Pressure transport modes for CCS value chain integration.

Product overview

Knutsen NYK Carbon Carriers (KNCC) offers a comprehensive suite of CO2 marine transportation solutions centered on its proprietary LCO2-EP (Liquefied CO2 - Elevated Pressure) technology. The core offering consists of LCO2-EP vessels that transport liquefied CO2 at ambient temperatures and elevated pressures, complemented by Medium Pressure (MP) and Low Pressure (LP) transport options. Supporting products include Cargo Tank Cylinders (CTCs) for modular cargo containment, Floating Liquefied Storage Units (FLSU) for offshore liquefaction and storage, and Direct Injection Offshore (DIO) vessels for injection without onshore terminal infrastructure. KNCC provides end-to-end CCS value chain services including the Trudvang project partnership for Norwegian North Sea CO2 storage operations.

Differentiator

Problem solved

Functional benefit

Products and services

• LCO2-EP (Liquefied CO2 - Elevated Pressure) Marine Transportation Service Proprietary marine transportation service for liquefied CO2 at ambient temperatures (0-10°C) and elevated pressures (34-45 barG), reducing energy requirements for CO2 cooling, liquefaction, heating, and pressurization prior to reservoir injection. Sold to industrial emitters and CCS project operators under long-term contracts.
• LCO2 Carrier Vessels Specialized CO2 carrier vessels equipped with dynamic positioning (DP) systems for transporting liquefied CO2. Includes 40,000 cbm capacity vessel concept for terminal-to-terminal operations. Built and operated using KNCC's LCO2-EP containment technology.
• Direct Injection Offshore (DIO) Vessel LCO2 carrier vessel designed for direct offshore CO2 injection without requiring dedicated terminal infrastructure, eliminating the need for onshore storage facilities and saving time and cost in CCUS value chain establishment.
• Floating Liquefied Storage Unit (FLSU) Floating structure that combines LCO2-EP Cargo Tank technology with the Isenthalpic Expansion Cooling & Liquefaction Process, liquefying and temporarily storing CO2 collected and transported as gas, reducing onshore land requirements and construction costs.
• Cargo Tank Cylinders (CTCs) Vertical cylinder-based cargo tanks (CTCs) used both onboard LCO2 carriers and in onshore temporary storage as part of an LCO2-EP system. Modular carbon-steel design enables efficient automated serial production at existing large-diameter steel pipe manufacturing facilities.
• Medium Pressure (MP) Transport Service One of three transportation modes offered by KNCC for LCO2 marine transportation using Type-C tanks. Suitable for CCS projects requiring different pressure specifications than the EP mode.
• Low Pressure (LP) Transport Service One of three transportation modes offered by KNCC for LCO2 marine transportation using Type-C tanks at lower pressures than MP or EP modes. Suitable for specific CCS project requirements.
• LCO2-EP Technology Licensing Licensing of KNCC's proprietary LCO2-EP containment technology to shipbuilders and other partners for vessel construction and CCS infrastructure development. Generates licensing and royalty revenue.

Quantifiable outcome

• Energy reductions of up to 20% for liquefaction process compared to conventional methods
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

19 partnerships are on record, tiered core and major.

• SeAH Steel CorporationcoreStrategic or Co-development Partner · 8 June 2026SeAH Steel and KNCC entered MOU to conduct full-scale CTC (Cargo Tank Cylinder) trial production. SeAH will manufacture pipe sections and assemble parts based on KNCC's technical specifications to validate production processes for class approval.
• JFE Shoji CorporationcoreStrategic or Co-development Partner · 8 June 2026JFE Shoji partnered with KNCC and SeAH for full-scale CTC trial production. JFE Shoji supplies steel plates and end caps for manufacturing Cargo Tank Cylinders for LCO2-EP system.
• Vår Energi CCS AScoreStrategic or Co-development Partner · 4 May 2026Vår Energi CCS AS, operator for Trudvang CCS ANS, signed MoU with KNCC and Aker Solutions to mature the Trudvang CO2 transportation and storage project on Norwegian Continental Shelf. Project targets initial injection of 2 Mtpa with potential to scale to 20+ Mtpa using Utsira Formation storage site.
• Aker SolutionscoreStrategic or Co-development Partner · 4 May 2026Aker Solutions partnered with KNCC and Vår Energi to design an unmanned offshore CO2 injection platform for the Trudvang project. Partnership combines offshore engineering expertise with marine transportation capabilities.
• Chiyoda CorporationcoreStrategic or Co-development Partner · 31 March 2026Chiyoda, NYK, and KNCC signed MoU to collaborate on global CCS projects. Partnership includes concept studies, feasibility studies, basic engineering (Pre-FEED/FEED), and EPC for CCS projects in Japan and overseas.
• PETRONAS CCS Solutions Sdn. Bhd. (PCCSS)coreStrategic or Co-development Partner · 23 December 2025NYK and KNCC signed MoU with PCCSS for joint feasibility study on CCS value chain using Elevated Pressure (EP) method. Study focuses on cross-border LCO2 marine transportation and offshore injection into subsurface reservoirs in Southeast Asia.
• Lloyd's RegistercoreTechnology or Integration · 10 September 2025Lloyd's Register awarded Approval in Principle for KNCC's Elevated Pressure LCO2 cargo containment system as part of joint development project.
• American Bureau of Shipping (ABS)coreTechnology or Integration · 5 June 2025ABS awarded Approval in Principle for KNCC's innovative 40,000cbm LCO2-EP Carrier Concept design during Nor-Shipping 2025.
• ENEOS Xplora Inc.coreStrategic or Co-development Partner · 27 March 2025NYK, KNCC, and ENEOS Xplora developed Floating Liquefied Storage Unit (FLSU) combining LCO2-EP Cargo Tank technology with Isenthalpic Expansion Cooling & Liquefaction Process. ClassNK awarded AiP for the FLSU concept.
• ClassNKcoreTechnology or Integration · 27 March 2025ClassNK issued Approval in Principle for KNCC's LCO2-EP carrier design and Floating Liquefied Storage Unit concept.
• Nihon Shipyard Co., Ltd. (NSY)majorStrategic or Co-development Partner · 2 December 2024NYK and KNCC conducting joint constructability study with NSY for 40,000 cbm LCO2-EP terminal-to-terminal vessel. NSY is joint venture between Imabari Shipbuilding and Japan Marine United.
• JX Nippon Oil & Gas Exploration CorporationcoreStrategic or Co-development Partner · 13 September 2024JX, NYK, and KNCC jointly conducted demonstration experiment of EP method in CO2 liquefaction and storage process. Successfully achieved TRL 6 for isenthalpic expansion cooling and liquefaction process.
• Pace CCSmajorTechnology or Integration · 12 September 2024KNCC and Pace CCS completed joint study assessing CO2 specification for elevated pressure shipping. Study evaluated corrosion, dry-ice formation, light ends tolerance, and energy efficiency comparisons.
• COSCO Shipping Heavy Industry Co., Ltd. (CHI)majorStrategic or Co-development Partner · 21 August 2024KNCC and CHI signed Joint Study Agreement for detail design development of LCO2 carriers based on LCO2-EP technology. Study focuses on Direct Injection Offshore (DIO) vessel design for CCUS projects.
• Chiyoda CorporationcoreStrategic or Co-development Partner · 31 January 2024Chiyoda, NYK, and KNCC conducted joint study to quantitatively evaluate CCS value chain including liquefaction, temporary storage, and marine transportation across EP, MP, and LP methods.
• Pilot EnergycoreStrategic or Co-development Partner · 16 June 2023KNCC and Pilot Energy signed MoU for collaboration on Cliff Head CCS Project in Australia. Partnership offers integrated CO2 capture, marine transportation, and offshore injection solutions for industrial emitters.
• DNVcoreTechnology or Integration · 5 April 2022DNV awarded Approval in Principle (2022) and General Approval for Ship Application (2023) for KNCC's LCO2-EP containment system, validating the technology for marine transportation.
• NYK LinecoreOthers · 18 January 2022NYK Line (Japan) holds 50% stake in KNCC joint venture. KNCC serves as NYK's designated platform for developing and executing LCO2 marine transportation business.
• Knutsen GroupcoreOthers · 18 January 2022Knutsen Group (Norway) holds 50% stake in KNCC joint venture. KNCC draws on Knutsen's extensive experience from marine transportation of oil, chemicals, and natural gas, including advanced offshore operations.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Wärtsilä: Large marine technology and services group supplying systems for gas carriers and decarbonization technology including CCS solutions. Comparable as a marine CCS equipment/infrastructure supplier overlapping with KNCC's value chain position.
• Saipem: Italian energy services company executing CCS pipelines and CO2 transport infrastructure projects globally. Adjacent incumbent competing for CO2 transport solutions including marine CCS infrastructure development.
• Aker Carbon Capture: Aker group company providing carbon capture plant technology and integrated CCS offerings. Currently a partner of KNCC (via Aker Solutions on Trudvang) but broadly competes for the integrated CCS value chain including the transport leg.
• Höegh LNG Holdings: Independent owner/operator of LNG carriers with technology adaptable to gas/CO2 shipping. Comparable as an established gas carrier operator with marine cargo system experience relevant to LCO2 vessel operations.

Direct peers

• Evergas: European operator of semi-refrigerated LPG and petrochemical gas carriers, including CO2-capable vessels used in European industrial CO2 logistics today. Closest active operational peer in CO2 marine transportation on comparable European trade lanes.
• Mitsui O.S.K. Lines (MOL): Major Japanese shipping group actively developing LCO2 carrier designs and CCS logistics services. As a fellow Japanese-headquartered shipping major with decarbonization ambitions, MOL is the most direct strategic competitor to KNCC in the Asian CCS shipping market.
• Northern Lights JV: JV between Equinor, Shell, and TotalEnergies developing CCS infrastructure including CO2 shipping from European emitters to Norwegian North Sea storage. Directly competes for the same CCS shipping and storage value chain KNCC targets via Trudvang.
• Cool Carriers: Niche European carrier of CO2 and other refrigerated liquid gases, operating smaller-scale vessels in the Baltic/NW Europe. Comparable business model focused on CO2 bulk marine transport for industrial emitters.
• MISC Berhad: Malaysian energy logistics arm of MISC with announced plans for CCS value chain development in SE Asia including CO2 marine transportation. Comparable as an Asian-headquartered shipping major pursuing CCS, and a potential competing partner for PETRONAS-led projects.

Emerging players

• Navigator Holdings: Glasgow-headquartered owner/operator of ethylene and LPG gas carriers, with emerging interest in CO2 shipping. Comparable as a gas carrier operator whose vessel class expertise is adaptable to the LCO2 carrier market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/knutsen-nyk-carbon-carrier

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Knutsen NYK Carbon Carriers