Capsol Technologies: Capsol and GE Vernova sign collaboration agreement to explore CapsolGT® solution on GE Aero-derivative gas turbines

Oslo, Norway – 1 September 2023


Capsol Technologies and GE Vernova’s (gevernova.com) Gas Power business
(NYSE:GE) aim to offer lower-carbon gas power by deploying GE’s aeroderivative
gas turbines in combination with CapsolGT® carbon capture plants. A first
project specific three-party collaboration agreement with Marine Low Carbon
Power Company Limited (MLCP) has been signed for gas-to-wire projects.

CapsolGT®, Capsol's technology designed for simple cycle gas turbines, not only
captures over 95% of CO2 emissions of the exhaust gas but also generates
additional electricity. CapsolGT® holds great potential to reduce CAPEX and OPEX
when capturing 95%+ of the carbon dioxide from the lower CO2 concentrated flue
gas of a gas turbine. What makes CapsolGT® a promising technology is the
lower-energy penalty, the use of a lower-cost and benign solvent, and the simple
yet efficiency-enhancing plant setup.

"We are actively working with customers to introduce breakthrough technologies
for a lower carbon future," said Aman Joshi, General Manager at GE Vernova’s
Aeroderivative Business. "Gas turbines have a pathway to decarbonisation through
post-combustion with carbon capture and sequestration and this collaboraton
represents another key milestone in GE Vernova’s efforts to provide power plant
operators with the most advanced technologies."

"Natural gas is expected to be the longest-lasting hydrocarbon-based energy
production. By introducing CapsolGT® we are expanding our value proposition for
the world’s largest emitters. The collaboration agreement represents another
milestone towards the commercialisation of the CapsolGT® technology and is in
line with our strategy to scale by partnerships. With this project we add
significant value for low-carbon power producers, helping them to reduce costs
and improve efficiency of their future gas power plants. We believe this can
solve a major challenge for the oil and gas industry," said Jan Kielland, CEO of
Capsol Technologies.
 

For further information, please contact:

Ingar Bergh
Chief Financial Officer, Capsol Technologies
+47 926 20 330
ingar.bergh@capsoltechnologies.com

Tone Bekkestad
Chief Marketing Officer, Capsol Technologies
+47 412 92 013
tone.bekkestad@capsoltechnologies.com


About Capsol Technologies

Capsol Technologies is a carbon capture technology provider with a goal to
accelerate the transition to a carbon-negative future. The company’s
energy-efficient, cost-competitive and environmentally friendly solution is
licensed out either directly to customers or through industrial partners
globally. Key target segments include cement, biomass, energy-from-waste, power
generation and large industrial. Capsol Technologies is listed on Euronext
Growth Oslo, Norway (ticker: CAPSL). For more information, visit
capsoltechnologies.com.


About Marine Low Carbon Power

MLCP is an English developer of gas-to-wire power projects focused on balancing
power in support of renewable energy in the energy transition era. Its primary
market is the east coast of England where near zero-carbon power is needed to
provide electricity to National Grid when North Sea offshore wind is
unavailable. Its shareholders have worked with GE for gas turbine generators for
over 25 years and have operated aero-derivative power plants for BP and for
governments across the globe. MLCP expects to play a major role in supplying
balancing power to new UK gigafactories serving the EV battery market.

 

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