Valmet And Saipem Signed A Memorandum Of Understanding To Develop Integrated Solutions To Support Decarbonization Of Hard-To-Abate Industries

Espoo, FL /PRNewswire/ - Valmet and Saipem have signed a Memorandum of Understanding (MOU) to develop joint solutions to decarbonize the industrial sectors that face significant challenges in reducing their greenhouse gas emissions, also known as hard-to-abate industries.

The companies will collaborate to offer effective solutions combining Saipem's technologies for CO2 management with the heat recovery and flue gas treatment units engineered and produced by Valmet for the pulp, paper and energy segments, thus bringing integrated and flexible options to their customers in both existing and new facilities.

Both Saipem and Valmet are committed to supporting customers along their Net Zero journey and ensure effective end-to-end CO2 management for emission-intensive industries.

"Sustainability is at the core of Valmet's business strategy and operations. In our climate program − Forward to a carbon-neutral future − we have set ambitious targets as we believe that technology plays a key role in mitigating climate change and global warming in the transition to a carbon-neutral economy. We have already achieved our target of enabling carbon-neutral production for all our pulp and paper customers who have access to fossil-free energy sources. We are also continuously improving the energy efficiency of our current offering. Our collaboration with Saipem fully supports these targets, and we are proud to be part of this initiative," says Lari-Matti Kuvaja, Director, Environmental Systems, Pulp and Energy, Valmet.

"Technology is the key to successfully tackle the decarbonization of hard-to-abate sectors. Together with Valmet, our ambition is to integrate processes and technologies, providing clients with an end-to-end decarbonized solution in line with their Net Zero targets. This MOU expands Saipem's portfolio of energy transition innovations, further strengthening our unique ability to cover the entire CO2 capture, re-utilization and storage value chain, through our drilling, onshore and offshore know-how, assets and technologies," says Fabrizio Botta, Chief Commercial Officer at Saipem.

Information about Saipem S.P.A.
Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is "One Company" organized into five business lines - Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 9 fabrication yards and an offshore fleet of 29 construction vessels and 15 drilling rigs.

Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward – every day.

The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2022 were approximately EUR 5.1 billion.

Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.