If the CCUS industry in North Jutland is to truly gain a foothold, small and medium-sized enterprises have a key role to play. The first step is to convince them that there is good business to be done.
When building a table, make sure all the legs are securely attached—otherwise, the table might tip over.
The same is true of the CCUS industry. It must be built on all four pillars at once if we are to succeed in creating a CCUS industry rooted in Northern Jutland that can compete on market terms. That’s according to Associate Professor Louise Brøns Kringelum of Aalborg University:
– No company can succeed with CCUS on its own. It is essential that companies connect with one another in the sense that they understand their own role in the system and accept that good business for each individual company requires that the entire value chain be interconnected and function effectively, she explains.
Learn from the wind power industry
Louise Brøns Kringelum points out that the offshore wind industry offers valuable lessons. It has succeeded in creating an entire system—or value chain—of suppliers, subcontractors, customers, and other stakeholders. The system is functioning well now, but it has also taken many years to reach this point.
According to Louise Brøns Kringelum, the question is how we can establish a similarly viable industry around CCUS. She answers this herself:
– “The first step is to get the market and value chain analysis in place so that each company understands what business models other companies have and how they can align them with their own,” she says, adding:
– There is good reason to focus specifically on SMEs, as they are often unable to put together a complete business model for a CCUS initiative on their own. They typically depend on being a small part of a larger whole. The key question for them is: Who can we supply? To answer that, they need to have a thorough understanding of the CCUS value chain and have their business model in place.
SMEs Are Taking Action in CO2Vision
Louise Brøns Kringelum of CO2Vision brings her experience with how SMEs view business opportunities and their role in the value chain within a North Jutland CCUS industry. There, she helps companies assess their readiness and potential fit for playing a role in the future of the CCUS industry.
– They’ll gain insight into what’s being done in the field of CCUS around the world, what the best practices are, how they can fit into the field themselves, and get ideas for building a successful business in CCUS. It’s a great place to start, explains Louise Brøns Kringelum.
