CO2 Capsol - Second unit of CapsolGo - CO2 Capsol’s mobile carbon capture demonstration unit – ordered

Press Release

Oslo, June 20, 2022


Reference is made to the Operational Update from CO2 Capsol AS published 29
December 2021 regarding investment in the development, construction, and
delivery of mobile carbon capture demonstration units, CapsolGo, utilizing Hot
Potassium Carbonate (HPC).

CO2 Capsol is experiencing increasing interest for the Company’s safe,
environmentally friendly, and energy efficient carbon capture technology Capsol
EoP, and the mobile containerised carbon capture demonstration unit CapsolGo.


Strong demand

“We see strong demand for our HPC technology and the demonstration unit.
Therefore, we have placed an order for the second CapsolGo unit, which will
allow us to fast track the deployment of a second unit, offering additional
demonstration capacities to the market in the fourth quarter of 2022”, says CEO
Jan Kielland of CO2 Capsol.

CapsolGo is an easy and affordable way for industrial emitters to test CO2
Capsol’s HPC technology, and for many the first step towards a full-scale carbon
capture plant.

Stockholm Exergi has successfully done extensive testing for more than two
years. HPC has been widely used in the industry for gas sweetening, including
CO2 removal, for 70 years. CO2 Capsol has developed the technology further to
become a very cost efficient and environment friendly process.

CapsolGo is offered on a rental basis, including a flexible testing and
validation program, by an independent third party, providing clients with
valuable data and information on CO2 Capsol´s HPC capture technology, with their
specific flue gas profile, helping them to accelerate the decision processes
towards a full-scale plant. A standard CapsolGo demonstration campaign has a
duration of four months, and includes transportation, installation, operation,
and testing services.


First unit operational in September

The first CapsolGo mobile carbon capture demonstration unit is under
construction and will be installed at Öresundskraft AB´s EfW
(Energy-from-Waste) plant Filbornaverket with operational start in September
2022. With a CapsolGo demonstration campaign, Öresundskraft AB will gain
valuable data and information on the effectiveness, flexibility, and safety of
CO2 Capsol’s patented HPC capture technology, reducing uncertainties.


Well-known, patented technology

HPC as an absorption solvent of CO2 is well-documented and used in thousands of
plants globally in multiple industries. Using HPC for post combustion carbon
capture from flue gases was until recently discarded as a viable option due to
high energy demand to compress the flue gas to make the CO2-absorption process
effective. To solve this problem, CO2 Capsol developed Capsol EoP (End of Pipe)
– a standalone, retrofit carbon capture unit, with a patented energy
re-circulation process which offers low capture cost and the flexibility to
monetise heat and electricity.


Fully-funded

The investment in CapsolGoTM is part of CO2 Capsol´s current business plan,
fully-funded, and will thus not require additional capital. Unit no 1 will start
generating revenue in September. Unit no 2 is expected to generate revenue
following delivery.



For further information, please contact:

Jan Kielland
CEO, CO2 Capsol AS
+47 415 69 974
jan.kielland@co2capsol.com
www.co2capsol.com



About CO2 Capsol

Carbon capture, utilization and storage (CCUS) is crucial to achieving net zero
emissions of greenhouse gases by 2050. CO2 Capsol´s carbon capture technology is
an essential part in a successful clean energy transition. Carbon capture
contributes both to directly reducing emissions in critical economic sectors and
to remove CO2 from facilities such as Waste-to-Energy (WtE) and biomass power
plants - so-called negative CO2 emissions. Negative CO2 emissions will be
essential in compensating for hard to abate emission sources. CO2 Capsol is
proud to be part of the solution for a sustainable future.

CO2 Capsol has a very competitive technology protected by IP rights. The base
case revenue model is to license out patents. We negotiate directly with project
owners or participate by collaboration with industrial players.

CO2 Capsol is listed on Euronext Growth Oslo, Norway (ticker: CAPSL).

https://www.co2capsol.com/news

 

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