Capsol Technologies ASA: License Agreement signed with leading European utility

Oslo, Norway - 27 December 2023


Capsol Technologies has signed a Frame License Agreement for the use of
CapsolEoP® in full-scale carbon capture projects with a European utility owning
many waste-to-energy (WtE) and biomass plants in Europe. The first projects
expected to be executed under the agreement will have a combined planned
capacity of around 550 000 tonnes of CO2 per year.

The agreed license fee is within the previously communicated range. Final
Investment Decision (FID), which triggers a license fee payment to Capsol, is
expected within about 24 months. Engineering packages will be provided on a paid
basis.

“It is encouraging to start working on high-impact projects for a customer who
has ambitious emission targets and a portfolio of facilities where our
technology is a great fit. Further, this agreement is a significant milestone
for our company as it confirms both our value proposition and the attractiveness
of our business model,” says Jan Kielland, CEO of Capsol Technologies.

Capsol is preparing the first stage of engineering work for full-scale carbon
capture facilities under the agreement.

“We experience high and growing interest from biomass and WtE players for our
safe and cost-competitive carbon capture technology, which has the potential to
make facilities turn biomass and waste into not only carbon neutral but even
carbon negative energy,” adds Kielland.

Capsol Technologies’ traction within WtE and biomass:

- In July 2022, Capsol was awarded a license agreement for the use of CapsolEoP®
at Stockholm Exergi's biomass powered combined heat and power plant at
Värtaverket in Stockholm, Sweden, planning to capture 800 000 tonnes of CO2 per
year when fully operational. FID is expected in Q1 2024 and operations from
2026.

- In September 2022, a CapsolGo® carbon capture demonstration campaign was
initiated at Öresundskraft´s WtE plant Filbornaverket in Helsingborg, Sweden.

- Capsol is currently running a 12-month CapsolGo® demonstration campaign for a
major German utility company.

- Capsol is currently executing a CapsolGo® demonstration campaign for German
utility EEW Energy from waste.

- Delivered paid engineering study for a plant in the BECCS (Bio-energy Carbon
Capture and Storage) value chain in the US.

- In April 2023, Capsol's technology was selected for a FEED (Front End
Engineering and Design) study at a specific plant in Sweden.

- 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 in the
Nordics, at one WtE plant and one biomass plant. This will be Capsol’s third
carbon capture demonstration unit in operation.



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 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. Plants with capacity below 400 000
tonnes of CO2 per year will typically be priced at the high end of the range.
Capsol Technologies is listed on Euronext Growth Oslo, Norway (ticker: CAPSL).
For more information visit capsoltechnologies.com.

 

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