Normod Carbon secures Port of Grenaa exclusivity and offtake deals for a €250m CO₂ hub
Copenhagen, 29 September 2025 – Normod Carbon, a Northern European pioneer in CO₂ aggregation, has secured exclusivity and customers for a phased development of approximately 10 million tonnes of CO₂ intermediate storage capacity per annum (mtpa) at Port of Grenaa, Denmark.
Read more below.
Read more below.
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 to aggregate over 20 mtpa for storage or utilization of CO₂, supporting decarbonization of hard-to-abate industries.
Aggregating volumes at intermediate storage hubs before transportation to dedicated offshore or onshore storage reservoirs typically reduces total CO₂ transport and storage costs by over 25%, enabling more carbon capture projects to reach final investment decisions (FIDs).
“Grenaa has the deepwater access, industrial zoning and scalability the CCUS industry needs,” said Jan Lien, CEO of Normod Carbon. “Our agreement enables emitters to share cost efficient infrastructure instead of building costly standalone solutions – accelerating deployment of carbon capture across the region.”
Commercial traction
Normod has signed Letters of Intent (LOIs) with three industrial emitters for 6.4 mtpa. While the LOIs already cover more than the phase I capacity at Grenaa, Normod continues to work on offtake and is in discussions with emitters representing ~35 mtpa of potential volumes across Northern Europe.
More than 80% of Normod’s CO₂ portfolio is bio CCS, supported by durable carbon removal certificates (CDRs) trading at > EUR 200/t – over 3x the average ETS price YTD.
Phasing aligned with demand
Phase I is a floating terminal planned to be operational in 2029. Phase II adds onshore tank capacity, targeted for 2030, subject to demand. FID for Phase I is targeted in Q1 2027, aligned with Normod’s first customers’ planned FIDs.
Value chain integration
With more than 70 million tonnes per year of planned CO₂ capture in Northern Europe by 2035, very few industrial regions currently have access to transport and storage.
Normod aggregates volumes at its hubs before transporting them to permanent storage with larger ships – enabling shared logistics and lower costs. Port of Grenaa’s deepwater location makes it an attractive gateway for license holders seeking a port to consolidate volumes before shipping them out on large carriers to FSIUs. The company has secured access to permanent storage capacity and is currently in advanced dialogues with CO₂ carrier/FSIU providers, additional permanent storage providers and other strategic ports to expand capacity across the value chain.
Robust economics
“By enabling large-scale CO₂ handling, we are creating new opportunities for industry and ensuring our port plays a pivotal role in meeting climate goals,” said Henrik Carstensen CEO of Port of Grenaa. “This partnership 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 grant support, with its shared hub model ensuring cost efficiency and attractive returns. Profitability strengthens further as capacity and utilisation increase.
“The Grenaa CO₂ hub represents a major opportunity for the local community and Denmark as a whole,” said Kasper Juncher Bjerregaard, Mayor of Norddjurs Municipality. “It will create skilled jobs, attract new industry to our region, and strengthen Denmark’s role in delivering the climate transition. We are proud to support a project that combines business growth with real impact on global emissions.”
Execution pedigree
Founded by the Lien family and partners, with 40 years of offshore project development experience in Northern Europe, Normod Carbon combines proven delivery capability with a partner led model to scale 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 route it cost efficiently to permanent storage. By securing strategic port access, building intermediate storage and partnering across the value chain, Normod enables scalable, bankable carbon management. Headquartered in Denmark, the company is developing Northern Europe’s largest planned CO₂ hub at Port of Grenaa and targets >20 mtpa of full chain services by 2035.
About Port of Grenaa
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 energy transition through activities in offshore wind, recycling and sustainable fuels. Grenaahavn.dk.
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, Grenaa Havn A/S
hec@grenaahavn.dk | +45 22 16 00 16 | +45 87 58 76 00
grenaahavn.dk
Kasper Bjerregaard
Borgmester, Kommunalbestyrelsen
Norddjurs Kommune
kjb@norddjurs.dk | +45 23 60 03 68 | +45 89 59 10 10
norddjurs.dk
Aggregating volumes at intermediate storage hubs before transportation to dedicated offshore or onshore storage reservoirs typically reduces total CO₂ transport and storage costs by over 25%, enabling more carbon capture projects to reach final investment decisions (FIDs).
“Grenaa has the deepwater access, industrial zoning and scalability the CCUS industry needs,” said Jan Lien, CEO of Normod Carbon. “Our agreement enables emitters to share cost efficient infrastructure instead of building costly standalone solutions – accelerating deployment of carbon capture across the region.”
Commercial traction
Normod has signed Letters of Intent (LOIs) with three industrial emitters for 6.4 mtpa. While the LOIs already cover more than the phase I capacity at Grenaa, Normod continues to work on offtake and is in discussions with emitters representing ~35 mtpa of potential volumes across Northern Europe.
More than 80% of Normod’s CO₂ portfolio is bio CCS, supported by durable carbon removal certificates (CDRs) trading at > EUR 200/t – over 3x the average ETS price YTD.
Phasing aligned with demand
Phase I is a floating terminal planned to be operational in 2029. Phase II adds onshore tank capacity, targeted for 2030, subject to demand. FID for Phase I is targeted in Q1 2027, aligned with Normod’s first customers’ planned FIDs.
Value chain integration
With more than 70 million tonnes per year of planned CO₂ capture in Northern Europe by 2035, very few industrial regions currently have access to transport and storage.
Normod aggregates volumes at its hubs before transporting them to permanent storage with larger ships – enabling shared logistics and lower costs. Port of Grenaa’s deepwater location makes it an attractive gateway for license holders seeking a port to consolidate volumes before shipping them out on large carriers to FSIUs. The company has secured access to permanent storage capacity and is currently in advanced dialogues with CO₂ carrier/FSIU providers, additional permanent storage providers and other strategic ports to expand capacity across the value chain.
Robust economics
“By enabling large-scale CO₂ handling, we are creating new opportunities for industry and ensuring our port plays a pivotal role in meeting climate goals,” said Henrik Carstensen CEO of Port of Grenaa. “This partnership 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 grant support, with its shared hub model ensuring cost efficiency and attractive returns. Profitability strengthens further as capacity and utilisation increase.
“The Grenaa CO₂ hub represents a major opportunity for the local community and Denmark as a whole,” said Kasper Juncher Bjerregaard, Mayor of Norddjurs Municipality. “It will create skilled jobs, attract new industry to our region, and strengthen Denmark’s role in delivering the climate transition. We are proud to support a project that combines business growth with real impact on global emissions.”
Execution pedigree
Founded by the Lien family and partners, with 40 years of offshore project development experience in Northern Europe, Normod Carbon combines proven delivery capability with a partner led model to scale 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 route it cost efficiently to permanent storage. By securing strategic port access, building intermediate storage and partnering across the value chain, Normod enables scalable, bankable carbon management. Headquartered in Denmark, the company is developing Northern Europe’s largest planned CO₂ hub at Port of Grenaa and targets >20 mtpa of full chain services by 2035.
About Port of Grenaa
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 energy transition through activities in offshore wind, recycling and sustainable fuels. Grenaahavn.dk.
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, Grenaa Havn A/S
hec@grenaahavn.dk | +45 22 16 00 16 | +45 87 58 76 00
grenaahavn.dk
Kasper Bjerregaard
Borgmester, Kommunalbestyrelsen
Norddjurs Kommune
kjb@norddjurs.dk | +45 23 60 03 68 | +45 89 59 10 10
norddjurs.dk