ESTECH A/S and PureteQ A/S, subsidiaries of PureteQ Group, are committed to developing technologies aimed at mitigating humaninduced climate change and pollution, while also advancing the production of green fuel.
PureteQ Group A/S Sverigesvej 13, 5700 Svendborg, Denmark www.pureteq.com | www.estech.dk
Copyright © PureteQ Group A/S 2024
Exerpts, including figures and charts, are allowed with clear source references.
Made by the Executive Team of PureteQ A/S & ESTECH A/S
PureteQ Group A/S is a holding company represented by the two sister companies, ESTECH A/S and PureteQ A/S, including four foreign subsidiaries of PureteQ A/S and one subsidiary of ESTECH A/S.
The majority shareholder is Erik Skjærbæk, owner of PureteQ and ESTECH. Minority shares are owned by key employees.
As joint-stock companies, ESTECH and PureteQ both have a board of directors responsible for the overall and strategic management of the company and for ensuring that the strategy is followed.
See simplified organisational chart below.
In 2024, the focus on the production of green hydrogen and e-methanol for the shipping industry has shifted. Despite political ambitions for a transition to green fuels and significant investments in new technology and infrastructure, green fuels are still not being produced in sufficient quantities or at a competitive price. As a result, both politicians and shipowners have increased their focus on technologies that can mitigate the harmful effects of continued fossil fuel use (e.g. scrubbers) as a key component of climate efforts.
It has also become evident in 2024 that China dominates the global shipbuilding industry. Chinese shipyards secured more than 70% of global orders in 2024, making local expertise essential for accessing the Chinese maritime market. PureteQ’s collaboration with a subsidiary of China State Shipbuilding Corporation (CSSC) has secured this access, leading to a significant number of scrubbers with products that are competitive in both price and quality.
Additionally, in 2024, PureteQ gained a substantial market share as a service provider for other scrubber manufacturers, and the proportion of large-scale service tasks requiring design and engineering expertise has grown. Contributing to this positive development is the completion of PureteQ’s digital web-based platform, Pure-SPOT, for reporting ships' environmental performance, as well as conceptual services such as Internet for Remote Assistance Services (IRAS), crew training, and, notably, our water monitoring systems, which are easy to install and operate. Furthermore, in 2024, PureteQ applied for a patent on an
innovative filtration solution designed to address current challenges in water purification and waste management.
Uncertainty regarding the phase-out of fossil fuels, political discussions on stricter regulations for scrubber wash water, and China's market dominance have not had a significant impact on PureteQ’s financial performance in 2024. Given market changes and achieved growth, the results are satisfactory. We have created opportunities that extend far into the coming years.
In 2024, many Power-to-X and green hydrogen projects were postponed or cancelled. Politically, ambitions for the green transition remain high, but they are not matched by companies’ willingness to invest in new technology and infrastructure.
Denmark needs to store up to 40 million tons of CO2 annually, necessitating substantial investments in infrastructure, such as pipelines, wells, pumps, and onshore facilities. Utilizing biogenic CO2 to produce new fuels reduces the need for underground CO2 storage. The development of renewable energy sources such as wind and solar should continue, but there will still be a need for traditional energy sources. Recycling CO2 for fuels and other purposes helps reduce emissions that would otherwise be difficult to abate.
ESTECH is working to develop and further refine technologies for Power-to-X and CO₂ capture from relevant emission sources. The development of the company's CAPPOW technology is progressing according to plan. The company has scaled up
to an industrial-scale demonstration plant at VandCenter Syd in Odense, which was completed, commissioned, and put into operation in mid-2024.
In 2024 we have been working to meet the growing demand for biogas upgrading. Upgrading biogas involves removing a significant amount of CO₂ directly from the biogas, which is necessary for utilizing the existing natural gas network for distribution. With the CAPPOW technology, the company can both reduce the amount of CO₂ emissions and produce the hydrogen used for further CO₂ reduction in biogas.
In 2025, the development plans for the technology will continue, with a stronger focus on the commercialization phase, which began in 2024.
During this phase, several potential domestic and international customers were identified, particularly within the brickworks and biogas industries. The company has established a sales subsidiary, ESTECH CAPPOW A/S, through which future sales projects will be executed.
Our purpose is clear: ESTECH A/S fights to transform CO2 from a climate burden into valuable resources, driving a sustainable future – now, and for generations to come.
Anders Skibdal CEO PureteQ Group A/S
On September 18, 2024, we inaugurated ESTECH’s brand-new facility that, as the first of its kind in the world, makes it possible to both capture CO2 from the industrial and energy sectors’ greenhouse gases and produce green hydrogen in the same process. This technology could be the missing piece in the green transition of the industry.
It is a genuine world-first being presented in Odense at VandCenter Syd. As the first of its kind in the world, our so-called CAPPOW technology combines CO2 capture with Power-to-X in a single process.
The facility thus enables the conversion of CO2 from, for example, biogas and production plants into biofuels by regenerating the captured CO2 and the produced hydrogen.
This is the culmination of several years of development for our company. We hope and believe that it will be a milestone not only for us as a company but, in all modesty, also for Denmark’s green transition.
The technology, called CAPPOW, is notable for its ability to capture flue gas, clean it, and then split the CO2-saturated liquid from the flue gas cleaning into CO2, oxygen, and hydrogen via electrolysis. The customer segment is essentially any company that emits CO2 and has access to green electricity, such as biogas plants, combined heat and power plants, and manufacturing companies. The plant can be scaled up or down as needed, making it adaptable to both smaller and larger CO2 emitters.
“CAPPOW will be relevant for virtually any company with a chimney, especially because the technology offers a different business case than a traditional CO2 capture plant. With our technology, flue gas can be converted into valuable resources such as biofuels,” explains CEO Søren G. Larsen, ESTECH A/S.
Carbon Capture, Utility and Storage (CCUS) is expected to play a crucial role in meeting global energy and climate goals to reduce Green House Gas (GHG) emission with 70% by 2030 compared to 1990. Denmark has allocated 450 million DKK for CO2 capture. However, the necessary large-scale plants to capture the required amounts are still missing. Here, the CAPPOW technology could prove to be among the missing pieces of the puzzle.
The facility is a near-full-scale plant located at VandCenter Syd in Odense. It is Denmark’s largest CO2 capture facility to date.
CCUS refers to a suite of technologies that can capture and make effective use of the high concentrations of CO₂ emitted by industrial activities such as production of cement, steel, and hydrogen.
Development of the technology for combined carbon capture and production of hydrogen began in 2019 under the name CAPPOW, a contraction of the words Carbon Capture and Power-to-X.
Now, the facility is complete, and the testing phase has begun. Data has been collected throughout the year, and the results are continuously analyzed, evaluated and optimized.
On the Technology Readiness Level (TRL) scale – a method of estimating the maturity of new technologies on a scale from 1 to 9, with 9 indicating a proven and competitive technology ready for production – the CAPPOW technology currently stands at 7.5.
Read more about the technology at www.estech. dk/technology
The technology combines two otherwise separate processes: carbon capture and hydrogen production via electrolysis (Power-to-X), which is powered by green electricity.
The advantage of combining these two processes is threefold:
1. It is more cost-effective than building two separate plants for CO2 capture and hydrogen production
2. It is more energy-efficient to run the processes together rather than individually
3. The process solely uses harmless chemicals, specifically potassium hydroxide (KOH) – a natural cleaning agent – and does not require heat
Can CO2 Captured from Flue Gas Be Used as Carbonation in Soft Drinks? The answer is yes—if it’s pure enough. On this basis, ESTECH established a collaboration with Naturfrisk Group in 2024, who will purchase some of the CO2 captured at ESTECH’s facility at VandCenter Syd in Odense. A facility that captures CO2 from flue gas, which is then purified to food-grade quality, making it suitable for use in the food industry.
ESTECH’s technology, CAPPOW (a combination of Carbon Capture and Power-to-X), captures CO2 and produces hydrogen and oxygen via electrolysis in a single process. A technology that has potential to play an important role in the green transition.
“Why not start by using some of the CO2 we remove from flue gas emissions at our facility for something useful?” thought Søren Gert Larsen, CEO, before contacting Naturfrisk Group – an organic beverage manufacturer at Ørbæk Brewery.
The captured CO2 will be at least 99% pure, meaning it can be compressed into tanks and directly used for carbonated drinks like beer, cider, and soft drinks. Additionally, the CO2 can be converted into green fuel or compressed and stored underground. The produced hydrogen can either be used directly for green fuel or converted into electricity or heat.
Naturfrisk produces among other things organic soft drinks, and the captured CO2 will specifically be used for carbonation in these drinks. According to Andreas Falkenberg, Production Manager at Naturfrisk Group, the story behind ESTECH’s
circular CO2 capture process fits perfectly with their mission of creating beverages in harmony with nature.
It was an easy decision to enter into this collaboration because the way ESTECH wants to reuse CO2 aligns perfectly with our organic values, which are centred on protecting nature and the environment and creating products from the best raw materials.
The food industry has specific requirements for the quality and purity of food-grade gases. CO2 from ESTECH’s CAPPOW facility fully complies with Danish and European standards, which require a purity of at least 99%.
A family-owned brewery and distillery that has been producing organic beverages under the Naturfrisk brand since 1997 at the old Ørbæk Brewery. Besides Naturfrisk, the group also includes the brands Ørbæk Brewery (organic beers since 2001), Macarn (organic mixers for cocktails and drinks since 2019), and Nyborg Distillery (organic spirits since 2009, originally at Ørbæk Brewery but relocated to Nyborg in 2017).
In 2024, we have participated in numerous networking meetings and exhibited at a record number of trade fairs, both under the PureteQ and ESTECH banners.
Our exhibition concept, featuring a demonstration model of carbon capture and
power-to-X technology, has proven to be a great attraction.
Overall, we have had a high number of visitors at the trade fairs we attended and have returned home with many promising leads.
Scrubbers, or absorbers in land-based carbon capture, serve as a pretreatment for carbon capture both on land and at sea
In 2024, most orders for scrubber systems for European customers came from the Chinese market through our collaboration with China State Shipbuilding Corporation (CSSC) Power Group (CPGC).
Additionally, we successfully sold and installed new hybrid-ready scrubber systems for American and European shipowners.
PureteQ also designed a new Exhaust Gas Recirculation (EGR) system for WinGD engines, which, after testing, is expected to be installed on larger ship engines.
The most common scrubber systems are openloop scrubbers, primarily due to their lower cost and complexity compared to closed-loop or hybrid alternatives. While cost-effective, openloop scrubbers face increasing scrutiny due to environmental concerns, particularly regarding their potential impact on marine biodiversity. However, open-loop scrubbers emit only a small fraction of the limits set by the International Marine Organization (IMO) for wash water discharge.
Recent discussions about the potential negative
impacts of open-loop exhaust gas cleaning systems in environmentally sensitive areas – such as ports or regions with strict discharge regulations – have prompted the IMO to call for validated sampling data. In response, Norwegian shipowner Solvang has publicly submitted five years of sampling data from its exhaust gas cleaning systems aboard 13 vessels. Verified by SINTEF, an independent research institute, this data effectively refutes a recent German report that presented inflated figures based on inaccurate emission factors and methodological errors. Solvang's validated data, now under review by Norwegian Maritime Authorities and submitted to the IMO for high-level environmental risk assessment, demonstrates that the contamination from exhaust gas cleaning systems is a fraction of the levels reported in the German study.
Globally, the use of closed-loop scrubbers is on the rise. These systems release little to no wash water
into the sea when operating in closed-loop mode, making them ideal for environmentally sensitive regions. Despite being considered future-proof and offering enhanced adaptability, closed-loop scrubbers come with higher costs and greater operational complexity.
To balance cost, compliance, and operational needs, the majority of our current scrubber projects are designed as hybrid scrubbers, which combine both open-loop and closed-loop functionalities.
In 2024 our service and spare parts department, ‘PureServ,’ reached the goal of a 25% market share of all scrubber fitted vessels.
PureServ is a registered trademark and certified service organisation that provides service and support to all brands of scrubbers to include compliance equipment such as Continuous Emission Monitoring Systems (CEMS) and Water Monitoring Systems (WMS).
In total, 6.000 ships have scrubbers, and they clean 35% of all fuel oil consumed on ships. To date we have 1550 registered scrubber-fitted ships registered in our database of which 930 are on a PureteQ service agreement. We expect this growth to continue in the coming years as we expand our value proposition to both existing and new customers.
After initial investments, the service business has proven profitable. In 2024, we increased the number of large-scale service jobs (service projects) considerably, primarily thanks to our pre-drydocking inspection initiatives.
The International Maritime Organization’s (IMO) regulations and classification society standards mandate regular drydocking to ensure a ship’s safety, structural integrity, and certification. PureteQ supports this process through comprehensive pre-drydocking inspections that validate key components such as pumps, fans, internal structures, and compliance equipment. The resulting report defines clear work scopes for shipyards, crews, and stakeholders— minimizing risks, unexpected issues, and
additional costs during drydocking. PureteQ also attends vessels in drydock and maintains an extensive stock of spare parts for most major brands.
Drydocking is also the ideal time to consider retrofitting upgrades that align your ship with future environmental standards.
In 2024, we developed PurePass, a standalone easy-to-operate water filtration system designed for retrofitting a ship’s existing water treatment system. It removes sludge and wastewater (bleed-off water) directly from the wash-water tank, reducing the dirt load by up to 90% and improving water treatment performance and reducing service intervals.
PurePass features cost-effective, multi-layer filters that capture particles of varying sizes. Wash water is pumped through the system using energy-efficient, variable-speed pumps, and the entire process is fully automated.
The filter exchange cycle—typically every 24 hours in closed-loop mode—can be extended through setting adjustments or by using larger filters.
We believe that scrubber maintenance isn’t just about minor cost savings—it’s about smart operations and crew training
By 2030 world-wide emission of C02 must be reduced with
In 2030 EU must reduce its CO2-emissions with
Scope 1, 2 and 3 emissions enable companies to understand their full value chain emissions
The world must limit global warming to
PureteQ Group is committed to optimizing current technologies and investing heavily in R&D for CO2 and Power-to-X solutions 70% 55% 1.5°
Scope 3 emissions typically account for 70–90% of the total greenhouse gas emissions
For PureteQ Group, ESG serves as the foundation for our engagement with society, employees, customers, suppliers, and other stakeholders, reflecting our commitment to addressing climate change in preparation for future carbon limits.
EU law requires companies above a certain size to disclose information on what they consider as the risks and opportunities arising from social and environmental issues, and on the impact of their activities on people and the environment.
Large companies subject to the Corporate Sustainability Reporting Directive (CSRD) were required to report according to the European Sustainability Reporting Standards (ESRS) for the first time in 2024 financial year. The standards include 12 topical standards related to environment, social and governance impacts.
Although PureteQ Group is not subject to the CSRD requirements, we are preparing for the new standards and how small and mediumsized enterprises (SMEs) can contribute to the sustainability agenda and continue to attract and retain customers, capital, and employees in both the short and long term.
On the social and governance scale, PureteQ Group fosters a healthy and positive
working environment, conducts workplace assessments and employee satisfaction surveys, plans at least four social events per year, and ensures that both national and international employment conditions are attractive.
On the road to net zero, one of the main ways to measure and assess the impact of greenhouse gas emissions is to categorize them in three different scopes. Incorporating Scope 1, 2 and 3 emissions enable companies to understand their full value chain emissions and how to focus their efforts on the greatest reduction opportunities.
Scope 1 are direct emissions that are owned or controlled by a company, whereas scope 2 and 3 are indirect emissions that are a consequence of the activities of the company but occur from sources not owned or controlled by it.
For PureteQ Group scope 1 emissions cover company car fuel consumption, waste separation and the company lunch program.
With the UN Sustainable Development Goals as a starting point, PureteQ Group is committed to taking part in the green transition
• We are gradually planning to replace petroldriven company cars with electric or hybrid cars and have installed two EV charging stations on our HQ’s parking lot.
• We recycle our plastic, glass, and paper waste in our offices, warehouse and kitchen.
• Our lunch program offers a varied and healthy seasonal menu, including a weekly meat-free dish. To minimize food waste, any leftovers are served on Fridays.
Scope 2 emissions include electricity and heat consumption. Our HQ offices are heated by a
For most companies, Scope 3 emissions typically account for 70–90% of their total greenhouse gas emissions — sometimes even more, depending on the industry. Scope 3 emissions for PureteQ Group include business travel, transportation and distribution of spare parts and scrubber components, and the use and end-oflife treatment of our sold products.
• We offer our customers certified gas analyser and sensor replacement programmes to reduce disposal of defective ones and ensure correct operation.
Our service engineers are dispatched from
What is not accounted for in terms of sustainability reporting is efforts to develop products that help other companies reduce their emissions.
In PureteQ Group we believe in the reutilization of CO2, as an alternative to fossil fuels or other purposes. We focus on reducing CO2 emission from exhaust gas, as well as technologies for using and/or storing CO2 (Carbon Capture, Utility & Storage (CCUS).
CCUS plays an important role in achieving climate objectives, as the CCUS technology contributes to reducing emissions that are difficult to reduce by other means.
With focus on minimizing the energy consumption in our combined technology for CO2 capture and Power-to-X, we expect to reduce the energy consumption significantly compared with other carbon capture technologies. Our CAPPOW technology is thereby essential to the world’s green transition.
Given the predictable scarcity and high production costs of green fuels, scrubbers and CO2 capture systems are emerging as vital, long-term, and cost-efficient solutions rather than merely interim measures.
Container shipping companies have saved USD 15.7 billion since 2020, according to a report by Sea-Intelligence. The report highlights the
economic advantages of effective environmental measures, such as scrubbers, which ensure compliance with stringent environmental regulations. Sea-Intelligence emphasizes the vital role of innovation and technological investment in fostering economic growth and sustainability within the shipping sector.
Maximizing energy efficiency is critical as the shipping industry navigates the challenges of low-carbon fuels and onboard carbon capture technologies, which are still on the horizon.
Our conceptual products, such as Internet for Remote Assistance Services (IRAS) – a comprehensive hardware and software installation for ship-wide WiFi access and realtime support, along with crew training, and our simplified water monitoring system, are gaining popularity among ship owners and operators.
Our digital web-based platform, Pure-SPOT, plays a crucial role in automatically uploading data to a cloud-based platform for optimizing and reporting environmental performance across ships equipped with scrubbers. This helps reduce energy consumption from scrubbers, assisting shipowners in lowering operational expenses, and enhancing the CII rating.
In 2024, the company recorded loss of DKK 8.5 million, with equity as of December 31, 2024, accounting to DKK 47.0 million, which is in line with expectations.
As of the reporting date, DKK 52.2 million has been capitalized in development costs. The need for potential write-downs is continuously assessed. Depreciation will commence upon the commissioning of projects. The company’s
liquid assets amount to DKK 5.2 million as of the reporting date, which, together with grants from sources such as EUDP funding and financial support from the parent company, PureteQ Group, ensures the company’s continues operations.
Based on this, management considers the year’s results and financial position satisfactory.
The amounts are stated in TDKK For further financial details see the official annual report at www.virk.dk
The financial result for 2024 shows a profit of DKK 12.1 million. The result has been positively impacted by strong growth in the company's aftermarket and service sector under the PureServ brand.
Minimal warranty work has been required on the company's products, leading to a reversal of provisions from previous years, which has further contributed to the positive result in 2024.
Given market changes and the achieved growth, the overall results for 2024 are satisfactory, creating opportunities extending far into the future.
The amounts are stated in TDKK For further financial details see the official annual report at www.virk.dk
PureteQ Group is dedicated to fighting climate change, continuously developing and improving our products while adapting the business to meet evolving market needs and demands.
In 2025, ESTECH will launch a project in collaboration with multiple partners to use the produced hydrogen and captured CO₂ for e-methanol production. Methanol is a key building block in the future production of green fuels.
Efforts are being made to meet the increasing demand for upgrading biogas, which in the short term can be an alternative way to utilize ESTECH's CAPPOW technology.
By upgrading biogas, a large amount of CO2 naturally present in biogas is removed, as required by authorities to allow it to be pumped into the natural gas grid. With the CAPPOW technology, it is possible to both reduce the amount of CO2 and produce the hydrogen needed for further reduction of CO2 in biogas.
In 2024 tests to demonstrate this will be completed and presented to interested biogas plants.
In Denmark alone, more than 120 biogas plants have the potential to use the technology for biogas upgrade.
Carbon capture and production of green hydrogen in one and the same process require access to green electricity in sufficient quantities. Parallel to our own
patented technology, opportunities for developing a technology for thermal desorption of CO2 will be explored.
Onboard Carbon Capture (OCC) is expected to be the next focus for PureteQ. In cooperation with ESTECH a marine adaptable carbon capture technology is being developed. A feasibility study has been performed, which proves the PureteQ OCC technology to be competitive, especially on energy consumption, which is the downside of all known carbon capture technologies, as energy production onboard a ship is still limited and regarded as a ‘black energy’ source. A partner for the onboard testing of such a system will be identified during 2024.
PureteQ’s future project business will partly be based on hybrid-ready or closed-loop sulphur scrubber projects that comply with the potential stricter regulations on discharge of wash water from scrubbers.
Many scrubbers will be upgraded to closed-loop systems during the coming years as the Mediterranean Sea is becoming SECA (Sulfur Emission Control Area) from June 2025.
In addition to PureteQ’s service of scrubbers and their water monitoring systems, servicing other types of process equipment such as ballast water treatment (BWT) systems and systems for reducing NOx are in the future business pipeline.
PURETEQ GROUP A/S
Sverigesvej 13
DK-5700 Svendborg
+45 62 21 27 87 info@pureteq.com | info@estech.dk
www.pureteq.com | www.estech.dk