Greensand

What Greensand does

Greensand (also known as Project Greensand and Greensand Future) is a Denmark-based carbon capture and storage (CCS) joint venture led by INEOS Energy Denmark alongside Harbour Energy and Nordsøfonden (the Danish State Subsurface Resource Company). The project captures CO2 at source, liquefies it, transports it across borders, and injects it into permanent geological storage 1,800 meters below the seabed in the Siri fairway / Nini field of the Danish North Sea — a reservoir that has demonstrably retained hydrocarbons for more than 10 million years. The physical infrastructure spans a 6,000-tonne onshore terminal at Port Esbjerg with six storage tanks handling 60 to 72 trucks per day, the world's first dedicated European-built offshore CO2 carrier Carbon Destroyer 1 with approximately 5,000-tonne liquefied CO2 capacity, and reconfigured injection wells at the offshore site approximately 200 km off the Danish west coast.

The core product is CO2 storage as a service, sold on multi-year subscription contracts to CO2 emitters across the full CCS value chain. Commercial agreements are in place with Danish biomethane/biogas producers for an initial 400,000 tonnes per year of biogenic CO2 and with Swedish energy company Øresundskraft for up to 210,000 tonnes per year starting 2028. Long-term capacity is planned at 4 to 8 million tonnes per annum by 2030, expanding into fossil CO2 from industrial point sources. Safety and compliance are certified by DNV (DNV-SE-0473) and the Geological Survey of Denmark and Greenland (GEUS), with a peer-reviewed Life Cycle Assessment confirming approximately 94% greenhouse gas avoidance. Revenue is pre-commercial as of early 2026; storage operations are scheduled to commence mid-2026 following a December 2024 Final Investment Decision committing more than $150 million across the value chain, funded by the Innovation Fund, the European Union (CINEA), and EUDP, and supported by a 23-partner consortium.

Name

Greensand

Legal name

Greensand

Website

https://greensandfuture.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Greensand is a Danish carbon storage joint venture led by INEOS Energy Denmark that captures, liquefies, and permanently stores CO2 in offshore North Sea reservoirs. It serves industrial emitters and biogas producers through subscription-based storage services, targeting 4-8 million tonnes annually by 2030.

Ownership category

akta.pro rank

Product category

Carbon Capture and Storage (CCS) Services

NAICS

Oil and Gas Extraction (211)

akta.pro primary industry

CO2 Injection / Storage-Field Pipelines (To Wells & Reservoirs) (TLAGAFAD)

akta.pro secondary industries

CO2 Storage & Injection Terminals (CCS Hubs) (TLAGAKAG), CO₂ Shipping & Marine Transport (Liquefaction, Carriers, Terminals) (EUABAHAB), Biomass Carbon Removal & Storage (BECCS/Bioenergy with CO₂ Capture) (EUABAFAB)

Keywords

• Carbon capture storage
• CO2 storage services
• Geological carbon sequestration
• Offshore CO2 storage
• CCS value chain

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. CO2 storage as a service: Greensand offers CO2 storage as a service for companies that want to help accelerate the development of a crucial climate technology and support their own decarbonisation journey by carbon removal credits. Companies (emitters) pay for permanent storage of their captured CO2. Commercial agreements are in place throughout the entire value chain from CO2 emitters to logistics, storage and shipping.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Greensand provides permanent geological CO2 storage as a service for industrial emitters and biogas/biomethane producers. Captured CO2 is received at the Port Esbjerg terminal, transported offshore via the dedicated carrier Carbon Destroyer 1, and injected 1,800 meters below the seabed into sandstone reservoirs in the Danish North Sea. The full CCS value chain covers capture, liquefaction, transport, injection, and permanent storage, with initial capacity of 400,000 tonnes per year scaling to 4-8 million tonnes annually by 2030.

Product overview

Greensand is a world-leading CO2 storage facility located in the Danish North Sea, building a full European CCS value chain. The core offering consists of Greensand Future (commercial CO2 storage service), supported by infrastructure including the CO2 Terminal Port Esbjerg (onshore receiving facility) and Carbon Destroyer 1 (offshore CO2 carrier). The Project Greensand pilot demonstrated cross-border offshore storage feasibility. Greensand aims to safely and permanently store up to 400,000 tonnes of biogenic CO2 per year initially, scaling to 4-8 million tonnes per annum by 2030, making it the first fully operational offshore CO2 storage site in the EU.

Differentiator

Problem solved

Functional benefit

Products and services

• Greensand Future Commercial-scale CO2 storage service in the Danish North Sea for industrial emitters and biogas producers, targeting 400,000 tonnes of biogenic CO2 per year initially, scaling to 4-8 million tonnes per year by 2030.
• Carbon Destroyer 1 The world's first dedicated offshore CO2 carrier vessel, built in Europe by Royal Wagenborg, with capacity of approximately 5,000 tonnes of liquefied CO2. Transports CO2 from the Port Esbjerg onshore terminal to the offshore storage reservoir in the North Sea, completing a round trip in approximately 3 days.
• CO2 Terminal at Port Esbjerg Onshore CO2 transit terminal at Port Esbjerg, Denmark, the first gateway for carbon storage in the EU. Features six storage tanks with 6,000-tonne total capacity, capable of handling 60 to 72 trucks per day for receiving and temporarily storing liquefied CO2 before offshore transport.
• Project Greensand (Pilot) The groundbreaking pilot project that successfully demonstrated feasibility of cross-border, offshore CO2 storage across the full value chain. First in the world to capture CO2, transport it across a border, and safely store it underground. Verified by DNV.

Quantifiable outcome

• ~94% greenhouse gas avoidance verified via peer-reviewed Life Cycle Assessment (LCA, ISO14040/44)
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core.

• Øresundskraft Kraft & Värme ABcoreStrategic or Co-development Partner · 14 April 2025Swedish energy company signed agreement with INEOS on behalf of Project Greensand to store up to 210,000 tonnes of CO2 annually from Sweden in Denmark. CO2 to be stored in Greensand facility in Danish North Sea, with first volumes expected from 2028. Represents cross-border CO2 storage cooperation between Sweden and Denmark.
• Royal WagenborgcoreStrategic or Co-development Partner · 12 November 2024Royal Wagenborg signed landmark agreement with INEOS for delivery of CO2 transportation, signed in presence of HM King Willem-Alexander of the Netherlands and HM King Frederik of Denmark. Built Carbon Destroyer 1 — the world's first dedicated European-built offshore CO2 carrier — at their shipyard in the Netherlands. Carrier capacity ~5,000 tonnes liquefied CO2.
• INEOS Energy DenmarkcoreStrategic or Co-development PartnerINEOS Energy Denmark is the lead operator of Project Greensand and one of three storage license holders (IRIS). INEOS operates the Siri field area and leads the commercial development of Greensand Future. CEO Mads Gade (INEOS Energy Europe) leads the project. INEOS is a global manufacturer with operations in 26 countries, employing 26,000+ people. INEOS operates the Nini field where CO2 will be stored.
• Harbour EnergycoreStrategic or Co-development PartnerHarbour Energy is one of the three storage license holders (IRIS) for Project Greensand. One of the world's largest and most geographically diverse independent oil and gas companies, with significant production in Norway, UK, Germany, Argentina and North Africa. Approximately 5,000 staff and contractors globally. Committed to low GHG emissions intensity and leading CO2 storage position in Europe.
• NordsøfondencoreStrategic or Co-development PartnerNordsøfonden is the Danish State Subsurface Resource Company and one of three storage license holders (IRIS). Tasked with generating value for Danish society from Denmark's subsurface assets, including participation in all underground carbon storage licences. Rests on two pillars: oil and gas production, and carbon storage to reduce atmospheric emissions.
• Port EsbjergcoreStrategic or Co-development PartnerPort Esbjerg is the location of the CO2 terminal, the first gateway for carbon storage in the EU. Construction began May 2025. The terminal has 6 storage tanks with 6,000 tonne capacity and can handle 60–72 trucks per day. Working with Greensand to develop the onshore CCS infrastructure.
• DNVcoreTechnology or IntegrationDNV is the world-leading independent verifier that provided safety approval for Greensand's CO2 storage. Issued site endorsement certificates covering the Nini Main and East area confirming compliance with EU and Danish legislation and international standards. DNV certification framework (DNV-SE-0473) covers reservoir, geology, well engineering concept, and injection facility.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Others

• Climeworks: Swiss direct air capture (DAC) company focused on carbon removal rather than point-source storage. Thematically adjacent — both sell carbon removal credits to corporates — but uses DAC + mineralization rather than geological storage, addressing the same voluntary carbon market customer base.
• Royal Wagenborg: Dutch shipping company that built Carbon Destroyer 1 for Greensand and is positioned as a key supplier of CO2 carrier vessels across European CCS projects. Enabling/ecosystem peer rather than direct competitor; key execution dependency for Greensand's transport leg.
• DNV (CCS verification & standards): Independent verifier (DNV-SE-0473 storage certification scheme) and existing Greensand partner. Not a competitor but a critical enabling player whose certification framework defines the technical bar for all EU offshore CO2 storage including Greensand.

Direct peers

• Northern Lights: Norwegian CCS joint venture (Equinor, Shell, TotalEnergies) operating cross-border CO2 storage in the North Sea with ~1.5 mtpa capacity from 2024. Most direct comparable: integrated CO2 transport, receiving terminal, and offshore saline aquifer storage serving European emitters.
• Porthos: Dutch CCS project (operator: Gasunie, with Air Liquide, Air Products, BASF, ExxonMobil) targeting ~2.5 mtpa CO2 storage in depleted North Sea gas fields from 2026. Direct peer: large-scale EU offshore CO2 storage serving industrial emitters with cross-border scope.
• Aramis: Proposed Dutch CCS value chain (TotalEnergies, Shell, Eni, Gasunie) targeting ~5 mtpa CO2 transport and storage in the Dutch North Sea. Comparable to Greensand: offshore pipeline + storage in depleted reservoirs serving industrial emitters.

Emerging players

• C-Store (Cella Mineral Storage): Norway-based full-chain CO2 capture, transport, and storage developer for industrial emitters in Europe. Direct functional overlap with Greensand: one-stop CCS-as-a-service targeting European industrial CO2.
• Wintershall Dea / Equinor CO2 Storage Hub: Major European E&P companies developing offshore CO2 storage hubs in the North Sea (e.g., Greensand Dea project in German sector). Comparable operating model: re-purposing depleted reservoirs for emitter storage; partially overlapping Danish/German North Sea geography.

Broad incumbents

• Sleipner and Snøhvit (Equinor CCS operations): Equinor's operating offshore CO2 storage projects at Sleipner and Snøhvit in the Norwegian North Sea — pioneer saline aquifer injection since 1996. Broader incumbent (not a standalone storage service) but defines the technical and commercial template Greensand is built upon.
• TotalEnergies (CCS activities): Integrated supermajor pursuing multiple CCS projects (Aramis, Northern Lights, Northern Endurance in UK). Not a pure-play but a key competitor for emitter contracts and storage capacity in the North Sea basin.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greensand-future

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Greensand