Progressive Energy and Pipe58 have signed a memorandum of understanding for the joint advancement of Highway58, a cross-border carbon capture, storage and utilisation network in the Baltic Sea region.

In Phase 1, potentially online in the early 2030s, Highway58 will comprise an offshore pipeline backbone of around 1,000 km, with the annual capacity to transport some 20 million tonnes of CO₂ for storage or utilisation (e.g., in fuel production).

"With approximately two-thirds of Sweden and Finland's CO₂ emissions being biogenic, the region is uniquely positioned to deploy carbon capture at scale and deliver net-negative outcomes," the parties highlighted in a press brief.

Pipe58 adds on its website, "Industries around the Baltic Sea emit over 100 million tonnes of CO₂ annually. Many of these emissions cannot be abated without carbon capture and storage (CCS). By providing shared, cost-efficient transport infrastructure, Highway58 will reduce costs and risks, making CCS projects possible that would otherwise not happen."

The Swedish company also underscored, "According to the Nordic Carbon Removal Association, the Nordics could deliver up to 160 million tonnes of CO₂ removals per year by 2050, with an annual economic contribution to GDP of €17 billion and 148,000 jobs."

Pipe58's CEO, Johan Beckmann, commented, "Progressive Energy brings extensive experience from the development of complex low-carbon infrastructure projects, including its leading role in the HyNet North West and Peak Cluster initiatives in the UK. That experience will be highly valuable as we advance Highway58 towards commercialisation."

David Parkin, Director, Progressive Energy, also said, "Pipe58 has already brought Highway58 from early research through feasibility, building deep regional insight, strong stakeholder relationships, and a clear strategic focus on CO₂ infrastructure tailored to the Baltic Sea region."

Photo: Pipe58