Exploration drilling in Straumsvík

Carbfix Carbfix will in the coming days begin exploratory drilling at Straumsvík in connection with the company's planned CO2 reception and disposal facility. The drilling will take place on the Rio Tinto site in Iceland, in a designated industrial area. Carbfix is planning, as is well known, to build a CO2 reception and disposal facility in Straumsvík called Coda Terminal. The first phase is scheduled to become operational in 2026, reaching full capacity, or 3 million tonnes of CO2 per year, in 2031.

Announcement on the Carbfix website

^{One of Carbfix's injection wells on the Hellisheiði.}

The purpose of the exploratory boreholes is to increase knowledge of the geological strata in the area.

The purpose of the exploration drilling is to increase knowledge of the subsurface in the area and to obtain more detailed information about the conditions for the permanent storage of CO2 in the subsurface using the Carbfix technology. The project involves drilling three exploration boreholes, as well as preparing gravel pads for the drill rigs and constructing short access tracks to them. The construction of the first of the three exploration boreholes will begin in the very near future. It will be located a short distance south of the Reykjanesbraut, opposite the western end of the aluminium smelter. The drilling is expected to take around four to eight weeks. Two further exploration boreholes will be drilled at a later date; one near the first and the other to the east of the smelter, north of the Reykjanesbraut.

Emphasis on transparency regarding the preparation and implementation of the Coda Terminal

The project is permitted by the Environment and Planning Department of the Municipality of Hafnarfjörður. It is not subject to an environmental impact assessment and is not expected to have any negative environmental effects or cause any significant disruption. Emphasis is placed on ensuring transparency throughout the planning and construction of Coda Terminal. Further information about the project can be found at Carbfix website. Enquiries and suggestions regarding the project can also be sent to the following email address: carbfix@carbfix.com

Further information is provided by:

• Ólafur Teitur Guðnason, Communications Manager, Carbfix
• olafurtg@carbfix.com
• Tel. 856-3535