Plesner advises SCHWENK Zement in first Danish CCS farm-in on Bifrost

Case News
Plesner has advised German cement producer SCHWENK Zement in connection with a farm-in/out agreement with TotalEnergies on the Bifrost CCS project in the North Sea. The agreement - which marks the first of its kind within the Danish market - was signed on Monday 29 September and means that SCHWENK through its Danish company CarbonVault acquires a 35% share in the Bifrost license to become co-owner together with TotalEnergies (45%) and Nordsøfonden (20%). Completion of the transaction remains subject to final regulatory approvals.

The Bifrost project consists of two storage licenses located approximately 200 km off the Danish coast and has been designated as a cornerstone of Denmark’s ambition to establish a European hub for CO₂ storage.

CCS (Carbon Capture and Storage) enables the capture of CO₂ from industrial processes and its storage in the subsurface instead of being emitted into the atmosphere. The technology is critical for reducing emissions from heavy industry and for achieving global climate targets. 

The license is currently in the exploration phase but is expected to move into the storage phase in the coming years, with Bifrost set to become one of Denmark’s first full-scale CO₂ storage projects.

Plesner's core Energy and Infrastructure team consisted of Niklas Korsgaard Christensen, Frederik Leth Keller, Agnes Skovlund Jensen, and Edward Lind-Holm.

Plesner’s core EU and Competition team consisted of Jacob Borum and Clement Hoff Munk.

Plesner's core Tax team consisted of Anders Endicott Pedersen and Emilie Bundgaard.

Read SCHWENK Zement's press release (in German)