Nordbex builds next major climate initiative to capture carbon 

“I told myself I wouldn’t do it again”

The tastefully decorated seventh-floor office could just as well belong to a prestigious law firm. And while the business certainly involves its fair share of contracts, far bigger plans are being forged here than courtroom arguments. 

We are visiting the Kista One building, right next to Kista Galleria, where a cluster of companies in deeptech, climate, materials, and energy are gathered. 

Thomas Öström is a veteran within the impact world. Not least after his eight years as CEO of Climeon, just around the corner in Kista. With one index finger, he draws the company’s growth curve during his leadership – a journey that was anything but linear. 

“I told myself I wouldn’t do it again. But I just couldn’t resist.” says Öström.

With Nordbex, he is now at the starting line of his next journey. The idea originally came from the UK and a company called Landmark Power Holdings. They use natural gas for power generation while capturing 30 tonnes of carbon dioxide per year and selling it onward, including to soft drink producers. 

Öström was involved in the company and realized, during the electricity price shock three years ago, that something similar should be done in Sweden. He convinced Landmark to invest in Nordbex, which also included the IP rights to the underlying technology. 

Meeting strong demand 

The company name is no coincidence. It plays on the concept of BECCS; “Bioenergy with Carbon Capture and Storage”. In Nordbex’s case, however, it is primarily about carbon utilization, or CCU; “Carbon Capture and Utilization”. Separating, collecting, and selling carbon dioxide for other applications. 

Öström brought on his office neighbor, Gunilla Berggren. A climate-driven mechanical engineer, she had sought out the fast pace and mission-driven nature of the impact world. After intense years at Eco2Energy (later Adven) and Cortus Energy, she was recruited to Nordbex. First stepping in as Head of Project Development and later becoming the COO and Head of Sustainability. 

“Now I have the opportunity to maximize climate impact for real,” says Berggren. 

The business model rests on three pillars. Nordbex will build modular power plants that produce heat and electricity from burning grot – branches and treetops from the Swedish forestry industry. During the process, carbon dioxide emissions will be captured, collected, and sold – including to the production of bio-jet fuel. Even though the CO₂ is eventually released again, climate benefits arise by replacing fossil fuels at every step. Another option is to permanently store the CO₂ underground and sell negative carbon credits. 

“The debate has focused heavily on carbon storage. But the demand for CO₂ will also increase enormously now that the aviation industry must transition to 50 percent biofuel by 2050. Carbon dioxide is a fantastic molecule that can be used for everything from sustainable fuel production to sustainable materials,” Berggren emphasizes. 

Launch planned in Nybro – groundbreaking in 2026 

A Nordbex facility will be able to capture 200,000 tonnes of carbon dioxide per year. Equivalent to the annual emissions of a small Swedish town. All while providing the local community with heat, electricity, and jobs. If all pieces fall into place, groundbreaking in Nybro municipality, in Kalmar County, could take place at the end of 2026. With operations starting in 2029. 

“These are long processes, and a facility requires 15 different studies to secure all permits. That’s why we’re already beginning work on facilities 2 and 3. Proximity to a train station or port terminal is important, and in the first projects we will primarily focus on electricity price area 4,” says Berggren, pointing to a map of the country’s 137 bioheat plants. 

“The common denominator is that they are aging, and that they release carbon dioxide straight into the atmosphere. We hope and believe that carbon capture will become an EU requirement in the future, but it is difficult and expensive to retrofit into an existing facility. That’s where we can contribute enormously,” says Öström. 

20 municipalities interested 

Just like Climeon once did, Nordbex began its journey in the Kista One building. The location is perfect, says Berggren. 

“We have a fantastic office that is far cheaper than being downtown. In addition to that, we have the running clubs and a free gym in the building. The transport connections are great, with easy access to both the city center and Arlanda. I can even bike to work.” 

And there may be many more journeys ahead. Around twenty municipalities have already expressed interest in Nordbex’s solution. And for good reason. In collaboration with Swedbank and Norwegian energy giant Aker Solutions, Nordbex can offer municipalities fully financed projects. 

“Municipalities want to spend their money on welfare, not on carbon dioxide management. We come fully financed and can secure the community’s energy supply. Meanwhile, we create a hundred jobs just during construction,” Öström notes. 

“We are passionate about the climate. And if we can combine that with societal benefits, it’s fantastic. We are the first in the world to make power production optimized for maximum carbon capture in this way,” concludes Gunilla Berggren. 

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