Flowserve to Provide Equipment for European Open-Source Carbon Capture and Storage Initiative

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it has been awarded a contract to provide control valves for a portion of Norway’s first cross-border and open-source carbon capture and storage facility. With an estimated 2024 completion, this facility will be the first of its kind and will help further enable the acceleration of decarbonization in Europe.

Flowserve will provide its Flowtop and Mark One control valves for the facility’s onshore site in the Bergen region, which will facilitate carbon capture before it is ultimately transported to an offshore terminal and stored permanently below the seabed. Once completed, the facility will have the ability to potentially store an estimated equivalent of 1,000 years of Norwegian emissions.

Globally, there is a growing need to limit – or even reduce – the world’s carbon emissions. “We recognize that governments and corporations around the world are increasingly focused on efforts to minimize climate change and are making investments to reduce their greenhouse gas emissions. Flowserve is uniquely positioned to capitalize on the flow control aspect of decarbonization, where today, our products and services can be utilized in many aspects of our customers’ carbon reduction efforts,” said Scott Rowe, Flowerve’s president and chief executive officer. “Our strategy to diversify, decarbonize, and digitize – or the 3D growth strategy – supports and aligns directly with Flowserve’s long-standing purpose statement, to provide extraordinary flow control solutions to make the world better for everyone. Our laser focus on, and dedicated resources for, the 3D strategy throughout the organization is intended to accelerate our growth, create a substantial installed base in this emerging marketplace and fulfill our purpose.”

As businesses aim to meet energy demands while also striving to reduce carbon emissions, Flowserve will continue to be a leading provider of products and services which support and enable our customers to meet their carbon reduction goals.

To learn more about Flowserve’s commitment to new and existing customers through the energy transition, visit https://www.flowserve.com/en/energy-transition/energy-transition-in-motion/.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

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