Capsol Technologies ASA: Capsol awarded feasibility study for Bioenergy with Carbon Capture and Storage (BECCS) project in Europe

Oslo, Norway – April 18, 2024


Capsol Technologies has been awarded a feasibility study for the CapsolEoP®
(end-of-pipe) carbon capture technology with a European energy company at one of
their biomass-fired energy-from-waste (EfW) plants. The study, which will be
conducted in Q2 2024, is for a plant aiming to capture 180,000 tons of CO2 per
annum.

Capsol Technologies aims to make carbon capture technology viable for more
emitters to accelerate the transition to net zero. EfW and biomass are two of
the company’s key segments, which are often combined as is the case with this
plant. The superior HSE performance, and ability to recover waste heat and
effectively return it to the district heating system and as a result increase
energy efficiency, is what makes Capsol’s solution particularly attractive for
these segments.

With 70% of global waste destined for landfills being potentially recoverable,
yet only 11% of this potential is currently being utilized, there's a
significant opportunity for waste recovery, according to Wood Mackenzie. This
provides a strong backdrop for growth for the EfW industry as government
policies are implemented. EfW plants that use biomass as an input factor can
generate negative emissions credits from carbon capture and storage which can be
utilized or sold, improving the economics of decarbonization.

According to estimates by IEA, bioenergy with carbon capture and storage (BECCS)
will need to reach 190 million tons of CO2 per annum by 2030 in the Net Zero
Emissions by 2050 (NZE) scenario.

“We are pleased to be awarded this feasibility study, building on our track
record within biomass and energy-from-waste. The client has long-standing
expertise in transforming biomass and other waste into decarbonized heat and
electricity for buildings, cities and industrial sites,” said Wendy Lam, CEO of
Capsol Technologies.

Capsol Technologies’ traction within biomass and EfW to date:
• In total, Capsol Technologies has nine engineering studies for the EfW
industry, totaling a potential of about three million tons of CO2 to be captured
annually.
• In July 2022, Capsol was awarded a license agreement for using CapsolEoP® at
Stockholm Exergi’s biomass-powered combined heat and power plant at Värtaverket
in Stockholm, Sweden.
• In December 2023, Capsol was awarded a frame license agreement for using
CapsolEoP® at an EfW plant of a European utility.
• In September 2022, a CapsolGo® carbon capture demonstration campaign was
initiated at Öresundskraft´s EfW plant Filbornaverket in Helsingborg, Sweden.
• Capsol is currently running a 12-month CapsolGo® demonstration campaign for a
major German energy company, including a campaign on an EfW plant.
• Capsol is currently executing a CapsolGo® demonstration campaign at EEW’s
energy-from-waste site in Hannover, Germany.
• In October 2023, Capsol signed a contract for the delivery of two CapsolGo®
demonstration campaigns to be executed at Sumitomo SHI FW’s client base, one of
them an EfW plant in the Nordics.


For further information, please contact:
Ingar Bergh
Chief Financial Officer, Capsol Technologies ASA
+47 926 20 330
ingar.bergh@capsoltechnologies.com



About Capsol Technologies
Capsol Technologies ASA is a carbon capture technology provider with a goal of
accelerating the transition to a net zero future. The company offers a carbon
capture and heat recovery system in one for superior efficiency with a proven
and safe solvent, which is licensed either directly to customers or through
industrial partners globally. Key segments include cement, biomass,
energy-from-waste and gas turbines. Capsol Technologies is listed on Euronext
Growth Oslo (ticker: CAPSL). For more information visit capsoltechnologies.com.

To receive Capsol’s stock exchange and press releases via email, subscribe at
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