A feasibility study into a potential carbon capture and storage (CCS) facility in the north-east is “50% complete” and Acorn, the company behind the project, said it could be even greater than previous CCS plans at the site.
Acorn, who are assessing the plans to build a CCS project at Peterhead Power Station, will host an online seminar to update interested parties later this month.
A spokeswoman said: “On top of this, we have been meeting with local politicians to raise awareness of Acorn and are developing industrial partnerships to drive the Acorn project forward.
“Acorn is a way of starting small, creating optionality and being able to grow quickly at the right time.
“It is an exemplar of a low cost, low risk, option-rich approach that can be used in other places around the world.”
Alan James, a managing director at Pale Blue Dot Energy, said the study was a “significant” step forward for CCS.
He said: “We look forward to progressing the feasibility phase and working with stakeholders to move the project towards development.”
The study was launched in September and is expected to last 19 months.