Copenhagen, September 30, 2025 - Normod Carbon, a Northern European pioneer in CO₂ capture, has secured exclusivity and customers for a phased development of approximately 10 million tons of CO₂ intermediate storage capacity per year (mtpa) at the Port of Grenaa.
Operations are planned to start in 2029, with total investments of around EUR 250 million across Phase I and Phase II. The project is part of Normod's ambition to develop Northern Europe's largest network of CO₂ hubs that can bring together over 20 mtpa for storing or using CO₂, supporting the decarbonization of the most difficult to decarbonize industries.
Gathering CO₂ volumes in intermediate storage hubs before transporting them to dedicated offshore or onshore storage reservoirs typically reduces total transportation and storage costs by over 25%, enabling more CO₂ capture projects to reach final investment decisions (FIDs).
"Grenaa has the deepwater access, industrial zoning and scalability that the CCUS industry needs," says Jan Lien, CEO of Normod Carbon. "Our agreement enables emitters to share a cost-effective infrastructure instead of building expensive standalone solutions - accelerating the deployment of carbon capture across the region."
Commercial momentum
Normod has signed Letters of Intent (LOIs) with four industrial operators for 6.4 mtpa. Although the LOIs already cover more than the Phase I capacity in Grenaa, Normod continues to work on offtake and is in dialog with dischargers representing ~35 mtpa of potential volumes across Northern Europe.
More than 80% of Normod's CO₂ portfolio is bio-CCS, supported by permanent CO₂ removal certificates (CDRs) trading at >200 EUR/t - over 3 times the average ETS price year-to-date.
Phases adapted to demand
Phase I is a floating terminal, planned to be operational in 2029. Phase II adds onshore tank capacity with a target of 2030, depending on demand. Final Investment Decision (FID) for Phase I is planned for Q1 2027, in line with Normod's first customers' planned FIDs.
Value chain integration
With more than 70 million tons of CO₂ capture planned annually in Northern Europe by 2035, few industrial regions have access to transport and storage. Normod collects volumes at its hubs before transporting them to permanent storage by larger vessels - enabling shared logistics solutions and lower costs. Grenaa Port's deepwater location makes it an attractive entry point for licensees looking for a port to consolidate volumes before they are shipped on large cargo vessels to FSIUs. The company has secured access to permanent storage capacity and is in advanced discussions with CO₂ shipping companies/FSIU suppliers, additional permanent storage providers and other strategic ports to expand capacity across the value chain.
Strong economy
"By enabling large-scale CO₂ management, we create new opportunities for industry and ensure that our port plays a central role in reaching climate targets," said Henrik Carstensen, CEO of the Port of Grenaa. "Our agreement with Normod and their partners 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 grants, and the hub model ensures cost efficiency and attractive returns. Profitability is further strengthened as capacity and utilization rates increase."The Grenaa CO₂ hub represents a great opportunity for Norddjurs and for Denmark as a whole," said Kasper Juncher Bjerregaard, Mayor of Norddjurs Municipality. "It will create jobs, attract new industry to our region and strengthen Denmark's role in delivering the green transition. We are proud to be part of a project that combines business growth with real impact on global emissions."
Proven experience
Founded by the Lien family and partners with 40 years of offshore project experience in Northern Europe, Normod Carbon combines proven delivery capability with a partner-driven model for scaling shared CO₂ infrastructure.
About Normod Carbon
Normod Carbon is Northern Europe's CO₂ aggregator, developing shared logistics infrastructure to collect CO₂ from multiple emitters and transport it efficiently to permanent storage. By securing strategic port access, establishing intermediate storage and partnering across the value chain, Normod enables scalable and bankable CO₂ management. The company is developing Northern Europe's largest planned CO₂ hub in the Port of Grenaa and aims for >20 mtpa of full-chain solutions by 2035.
About Port of Grenaa
The 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 green transition through activities such as offshore wind, recycling and sustainable fuels.
For more information, contact:
Jan Lien
CEO, Normod Carbon
janlien@normod.com | +45 61 55 09 69 | +47 916 26 969
normodcarbon.com
Henrik Carstensen
CEO, Port of Grenaa
hec@grenaahavn.dk | +45 22 16 00 16 | +45 87 58 76 00
grenaahavn.dk
Kasper Bjerregaard
Mayor, Municipal Council
Norddjurs Municipality
kjb@norddjurs.dk | +45 23 60 03 68 | +45 89 59 10 10
norddjurs.dk
