Ulm, October 2025 – SCHWENK continues to drive forward the decarbonization of its European activities and is participating in the Bifrost Carbon Capture and Storage (CCS) project through its Danish subsidiary CarbonVault.

Under a farm-down agreement, CarbonVault will acquire a 35% stake in the project. TotalEnergies E&P Denmark will remain the operator of the project with a 45% stake, while the state-owned Nordsøfonden will hold a further 20%.

The Bifrost project comprises two offshore licenses for geological CO₂ storage in the North Sea, approximately 200 kilometers west of the Danish coast, and is part of TotalEnergies’ CCS portfolio in the North Sea.

CCS as a strategic component of our climate strategy

SCHWENK aims to reduce its CO₂ emissions effectively in the long term. Around two-thirds of emissions arise during clinker production due to the raw materials used—through the deacidification of limestone—and cannot be completely avoided without carbon capture technology.

“Carbon capture and storage is a key component of our decarbonization strategy. By participating in the Bifrost project, we are laying an important foundation for gradually achieving our goal of becoming the first climate-neutral plant in Europe by 2030,” emphasizes Thomas Spannagl, CEO of the SCHWENK Baustoffgruppe.

The partnership demonstrates how industry and CCS developers can work together to develop solutions for climate targets.

“We look forward to working with our new partner to ensure the successful implementation of the Bifrost project—a cornerstone of Denmark’s ambition to establish a European CO₂ storage hub,” says Arnaud Le Foll, Senior Vice President New Business—Carbon Neutrality at TotalEnergies.

The completion of the transaction is subject to the usual regulatory approvals.

About TotalEnergies and Carbon Capture and Storage (CCS)

TotalEnergies pursues a clear principle: emissions should first be avoided and then specifically reduced—through the use of the best available technologies, tailored to the specific requirements of individual plants.
For unavoidable residual emissions and its customers’ emissions, the company develops industrial projects for safe geological CO₂ storage.

With extensive expertise in managing complex large-scale projects, gas processing, and geosciences, TotalEnergies is actively driving the decarbonization of European industry—including through projects such as Northern Lights (Norway), NEP (United Kingdom), Bayou Bend (United States), Aramis (Netherlands), and Bifrost (Denmark).

About SCHWENK

SCHWENK is a family-owned company with deep roots in the building materials industry and a clear commitment to quality, innovation, and sustainability. Founded in 1847, SCHWENK now operates at several locations in Germany and Europe, focusing on cement, sand & gravel, concrete, concrete pumps, and recycling. As part of its sustainability strategy, SCHWENK develops targeted solutions for carbon capture and carbon management – guided by the approach: “SUSTAINABILITY THAT WORKS.”