OSLO, Aug 26 (Reuters) – Shares of Aker Carbon Seize ACC-ME.OL and Aker Offshore Wind AOW-ME.OL surged on their first day of buying and selling in Oslo on Wednesday, delivering a lift to the Aker conglomerate’s technique of spinning off setting know-how. Aker Options, managed by Norwegian billionaire Kjell Inge Roekke, introduced in July that the 2 corporations would elevate 500 million Norwegian crowns ($55.9 million) every earlier than a list on Oslo’s smallcap Merkur Market. Aker Carbon Seize, which helps corporations reduce their CO2 emissions, was buying and selling at 5.four crowns at 1010 GMT, greater than tripling from the 1.7 crowns price of the preliminary public providing. Aker Offshore Wind AOW-ME.OL, which goals to develop and function floating offshore wind farms, in the meantime traded at 3.Three crowns, greater than double of the subscription price of 1.47 crowns. The increase was pushed by buyers in search of to personal corporations with a powerful profile in environmental, social and company governance (ESG), Kepler Cheuvreux analyst Magnus Olsvik mentioned. “There is limited availability of such stocks in Norway, and the price reflects this lack of supply,” the analyst mentioned. Aker Carbon Seize has two initiatives constructing carbon seize crops, together with one at Heidelberg’s cement manufacturing facility in Brevik, the place it’s going to use a patented know-how developed by Aker Options. Carbon seize is seen as a necessary know-how to cut back emissions from business, equivalent to cement manufacturing, which accounts for about 7% of worldwide CO2 emissions, greater than aviation. Aker Offshore Wind’s intention of growing floating wind farms may in the meantime facilitate the harvesting of wind power in waters too deep for seabed-fixed generators, the corporate instructed buyers on Tuesday. It mentioned it was taking a look at initiatives off California, South Korea, Scotland and Norway, which may present it a web energy capability of 1.5-gigawatt (GW). In California and South Korea, it plans to develop offshore wind farms in partnership with Ocean Winds, a three way partnership between Spanish EDP Renewables and French Engie . Roekke’s funding agency Aker ASA, which controls Aker Options, holds 51% stake in every of the spinoffs. $1 = 8.9485 Norwegian crowns
Enhancing by Terje Solsvik and David EvansOur Requirements:The Thomson Reuters Belief Ideas.