Capsol Technologies and Storegga sign Memorandum of Understanding to explore opportunities in the CCS value chain
Oslo, Norway - 29 November 2023
Capsol Technologies ASA, a carbon capture technology provider, and Storegga
Limited (Storegga), an independent, UK-based decarbonisation development
business, have signed a Memorandum of Understanding (MoU) outlining
collaboration for opportunities in commercial development of large-scale CO2
capture, transportation, and permanent storage.
Capsol and Storegga will on a mutually beneficial and non-exclusive basis
identify, pursue, and develop large-scale CO2 value chain projects, leveraging
Capsol’s expertise and engineering capabilities within Hot Potassium Carbonate
(HPC) carbon capture technology, and Storegga’s competency and experience in CO2
transportation and permanent storage, with the goal of providing Carbon Capture
as-a-Service (CCaaS).
By offering CCaaS, industries avoid the upfront investments and can instead opt
for a one-stop shop solution that handles the entire value chain, where they pay
per tonne of CO2 captured from their facility.
Storegga provides end-to-end, integrated, carbon capture and storage (CCS) and
hydrogen services for CO2 emitters utilising net zero infrastructure in the UK,
US, Norway and internationally, including the Acorn CCS and Hydrogen project in
Scotland and Trudvang CCS in Norway with a potential to inject approximately 225
million tonnes of CO2 over a period of 25-30 years.
Capsol is a technology licensor of an energy-efficient, cost-effective, safe,
and flexible HPC carbon capture process to many different emitters within
cement, biomass, energy-from-waste (EfW), chemical and power industries.
“This agreement with Storegga underlines Capsol’s commitment to develop the
carbon capture market, paving the way towards net zero. The collaboration will
facilitate the development of a full value chain approach to carbon capture,
transportation and storage for different emitters and partners. As a leading
provider of energy-efficient and safe carbon capture technologies to large-scale
emitters, we see the need for deeper collaboration across all segments to make
carbon capture, utilisation, and storage economical for more emitters, and to
accelerate the deployment of CO2 removal measures to reach our climate
mitigation goals,” said Jan Kielland, CEO of Capsol Technologies.
For further information, please contact:
Ingar Bergh
Chief Financial Officer, Capsol Technologies ASA
+47 926 20 330
ingar.bergh@capsoltechnologies.com
About Capsol Technologies ASA
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 solutions are
licensed out either directly to customers or through industrial partners
globally. Key segments include cement, biomass, energy-from-waste, power
generation and large industrial. Capsol is targeting significant long-term value
creation with a scalable model with an ambition of 5-10% technology licensing
market share in 2030, EUR 7-12 in licensing revenue per tonnes installed
capacity and 40-60% pre-tax profit margin. Capsol Technologies is listed on
Euronext Growth Oslo, Norway (ticker: CAPSL). For more information visit
capsoltechnologies.com.
About Storegga Limited
Storegga Limited is an independent, UK-based decarbonisation development
business. It develops early-stage carbon capture and storage and hydrogen
projects in the UK and internationally to contribute to achieving net-zero
targets. The company employs approximately 80 people in the UK, US, and
Singapore, with its head office in London.
Storegga is a private company backed by GIC, Mitsui & Co., Ltd., M&G
Investments, Macquarie Group and Snam. For more information visit
storegga.earth.
Contacts:
storegga@dentonsglobaladvisors.com
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