04:53 PM EDT, 08/01/2024 (MT Newswires) -- Computer Modelling Group ( CMDXF ) on Thursday said its comprehensive carbon capture and storage (CCS) solution was selected by Sval Energi to support its Trudvang project, located in the Norwegian North Sea.

The Trudvang project involves capturing CO2 from several industrial emission sources in Northern Europe and transporting it, either via ships or pipeline, to the Trudvang store for injection and permanent storage beneath the seabed. The project has the potential to store nine million tons of CO2 annually and is targeting to start storing CO2 in 2029.

The company's shares closed up $0.71 to $14.57 on the Toronto Stock Exchange