Capsol Technologies ASA: Capsol awarded feasibility study from cement producer in Germany
Press Release
Oslo, Norway - October 01, 2024
Capsol Technologies has been awarded a feasibility study for the CapsolEoP® (End-of-Pipe) carbon capture technology at a cement plant in Germany. The study is for a plant aiming to capture 400,000 tons of CO2 per annum.
“We are pleased to be awarded our sixth engineering study for carbon capture on a cement plant. It is inspiring to work with industry players that have clear emission targets. With this study, Capsol continues to build a position as a preferred carbon capture technology provider for the cement industry,” says Wendy Lam, CEO of Capsol Technologies.
Carbon capture is the most efficient solution to decarbonize cement production, where up to 60% of CO2 emissions come directly from the conversion of calcium carbonate to clinker, which is hard to abate with other measures. The International Energy Agency (IEA) has estimated that the cement industry will account for 170 million tons of captured CO2 in 2030, rapidly growing to 480 million tons in 2035 and 1.3 gigatons in 2050, paving the way towards a net zero future.
Capsol’s current project pipeline of large-scale cement projects in engineering study phases, and CapsolGo® demonstration campaigns have a total potential carbon capture capacity of around 8 million tons of CO2 annually.
The study will count towards Capsol Technologies project pipeline in Q3 2024.
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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 world’s transition to a net zero future. The technology combines inherent heat recovery and generation in a stand-alone unit based on a proven and safe solvent. Capsol’s technology 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 Oslo Børs (ticker: CAPSL). For more information visit capsoltechnologies.com.