Taking responsibility for CO2
Fynd Global AS is a startup company that has recently joined GCE Ocean Technology with a mission to take responsibility for the transportation, storage, and monitoring of CO2 from industrial processes.
We had the opportunity to speak with Martha Lien, the Chief Scientific Advisor of Fynd Global AS, to learn more about their innovative approach to carbon capture and storage.
Q: Could you tell us a bit more about Fynd Global AS and what inspired you to start this company?
Absolutely. Fynd Global AS was founded in 2022 by an experienced and diverse team covering all aspects of the CO2 value chain, from transportation, injection, and storage.
We saw a need for a new lean and cost-effective industrial approach to carbon capture and storage that would enable companies to focus on their core business while ensuring that CO2 is stored safely and effectively. Not to mention that the complete process from production to storage of CO2 should be transparent and traceable.
Q: How does Fynd Global AS fit into the carbon capture and storage value chain?
We see the future of Carbon Storage decoupled from the oil and gas industry. It is, therefore, vital to make carbon storage commercially viable for emitters while at the same time preserving its social acceptance by being executed transparently and safely.
Fynd Global collaborates with industrial companies capturing CO2, and our mission is to take responsibility for the transportation, injection, storage, and monitoring of CO2 from industrial processes.
Our role is to be a licence holder and operator, and our core values are transparency and safety providing assurance to the public that no CO2 is lost during transportation or storage.
Fynd Global is a 100% renewable company which will open for a substantially bigger investment group. We believe that our business model, which focuses on building partnerships along the carbon capture and storage value chain, can make a real difference in the fight against climate change.
Q: What are some of the challenges you have faced in developing your approach to carbon capture and storage?
As of today, the authorities have primarily implemented the oil and gas regulations for CO2 injection, which is a cost-driving process.
CO2 emitters will always search for a cost-effective model, and it is critical to meet this challenge while performing the injection safely and securely.
There is also a public perception that carbon storage must be delivered by an oil and gas company. However, only knowledge and experience from drilling wells offshore is a requirement.
To deliver a cost-effective service, Fynd Global consists of a smaller core competence group and LOIs with specialists for essential support and studies to execute the service. This corporation is organized in an Alliance model.
Q: What are your plans for the future of Fynd Global AS?
Our goal is to become a leading player in the carbon storage market by being the provider of novel subsea technology for lean and efficient injection, together with state-of-the-art monitoring solutions.
We believe that our technologies represent a sustainable and cost-effective alternative in the CCS market, and we are committed to working with our partners to achieve this goal.
In the coming years, we plan to continue to expand our partnerships and grow our business both nationally and internationally while always remaining focused on our mission of taking responsibility for safe CO2 transportation, injection, and storage.
Q: How does Fynd Global AS see the future of the carbon capture and storage industry?
The carbon capture and storage industry have enormous potential to facilitate the green transition helping emitters outside the oil and gas industry to reduce greenhouse gas emissions.
As more companies recognize the need to reduce their carbon footprint, we expect to see increased demand for our services on a commercial basis.
We are committed to being at the forefront of this industry by utilizing the best available technologies in an industrial perspective and to work with our partners to develop new innovative and cost-effective approaches to carbon injection and monitoring.
Q: How does Fynd Global AS see its role in the cluster?
By connecting with an extensive ecosystem as GCE Ocean Technology, we can faster expand our network of clients, partners, and customers.
We see ourselves as playing a key role in the energy transition as we bring with us the required competence for safe storage and monitoring of CO2 without the legacy and challenges existing players in the oil and gas sector have.
As more companies move towards renewable energy sources, for example, blue hydrogen, the need for effective carbon capture and storage solutions will only increase. We are excited to be a part of the cluster and move towards a more sustainable future.
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