The front-end engineering and design study (FEED) will include a requirement analysis and pre-designs of equipment and buildings, as well as an evaluation of factors such as zoning plans, costs, and schedules. Due this summer, the study precedes the subsequent final design phase. Concurrently, work will commence on an environmental impact study for the project.

Coda Terminal will receive and store 3 million tons of CO₂ per year, mineralizing it underground with the Carbfix technology. By this method, the CO₂ is dissolved in water and injected into basaltic bedrock, where it is permanently transformed into solid minerals through natural processes.

Set to mineralise 3 million tons annually

The CO₂ will be captured from industries across Northern Europe and shipped to Iceland in specially designed carriers. It will also be captured from Rio Tinto’s aluminium smelter at the site. Pilot injections are expected to start in 2023. Full capacity, which amounts to more than half of Iceland’s annual CO₂ emissions, is envisioned for 2031.

Developed since 2007, the Carbfix technology has been continuously applied on an industrial scale since 2014 to mineralize a total of 80 thousand tons of CO₂ from the Hellisheiði geothermal power plant in Iceland. Since 2021, Carbfix has also mineralized CO₂ from Climeworks’ Orca plant, the world’s largest direct air capture and storage facility at the same site.

“Reaching the world’s climate goals requires a significant contribution from carbon capture and storage solutions. Through eight years of continuous industrial scale operations, the Carbfix technology has been demonstrated to be economical, safe, and effective. The Coda Terminal will increase our capacity approximately two hundred-fold, and our agreement with EFLA is an important and welcome step towards that goal,” says Edda Sif Pind Aradóttir, CEO of Carbfix.

"For years, EFLA has brought climate issues to the forefront of all its projects. We at EFLA are therefore very proud to have been considered the most qualified to pre-design Coda Terminal and thus be able to take part in this extremely important project. Global warming will not be stopped without the application of all available solutions. Most IPCC scenarios assume that some of the emission reductions will have to come from CO₂ capture and storage. Iceland plays an important role here, because of the ideal conditions for this type of storage. We can prove to the outside world that this is possible on a very large scale, and in the future, this could be our biggest contribution to combat climate change," says Reynir Sævarsson, Coda Terminal's design director and EFLA's Chairman.

Transparency and close engagement with stakeholders will continue to be emphasised in the development of the project. Further information on Coda Terminal can be found at www.codaterminal.com