CO2 Capsol: Second CapsolGo™ unit contracted for two firm 6-month demonstration campaigns in Germany

Oslo, Norway 08 November 2022


CO2 Capsol has signed a 12-month contract for the delivery of two CapsolGo™
demonstration campaigns, one at an Energy-from-Waste (EfW) and one at a
biomass-fired Combined Heat and Power (CHP) plant both of a major German energy
company. The demonstration campaigns will be executed in Germany, with
operational start early 2023, and will test the CO2-capturing of flue gas
streams of both plants.

“This is an important milestone for CO2 Capsol as it marks our entry into the
German market, the largest market for Energy-from-Waste in the EU, and it
underpins the positive response we experience for our Carbon Capture
Technology”, says Philipp Staggat, Head of the CapsolGo™ program, CO2 Capsol.

The CapsolGo™ demonstration campaigns will be delivered as a service with a
testing and validation program, by an independent third party. The program will
provide the client with valuable data and information on CO2 Capsol’s capture
technology, its effectivity, flexibility, and safety, helping to accelerate the
decision processes towards full-scale carbon capture plants at their facilities.


More details will be provided at a later stage and prior to start of operations.

Contract volume
The contract will ensure 12 months of full-time employment for one CapsolGo™
unit and includes the option for an extension period. The contract will deliver
revenue from Q1 2023, and commercial terms are in line with CO2 Capsol’s
expectations for this type of project.

CO2 Capsol’s long-term goals
On 14 September 2022, CO2 Capsol provided an update on its strategic roadmap for
long-term value creation. The company has set long-term targets of achieving 5%
technology licensing market share and EUR 7-12/ton per capacity installed.
CapsolGo™ demonstration projects are key enablers for winning large-scale
projects, and hence, important milestones towards achieving the company’s
overall market share ambition.


For further information, please contact:

Ingar Bergh
Chief Financial Officer, CO2 Capsol AS
+47 926 20 330
íngar.bergh@co2capsol.com
www.co2capsol.com

Tone Bekkestad
Chief Marketing Officer, CO2 Capsol AS
+47 412 92 013
tone.bekkestad@co2capsol.com
www.co2capsol.com



About CO2 Capsol

CO2 Capsol 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 solution is licensed out either
directly to customers or through industrial partners globally. Key target
segments include cement, biomass, energy-from-waste, power generation and large
industrial. CO2 Capsol is listed on Euronext Growth Oslo, Norway (ticker:
CAPSL). For more information visit co2capsol.com.

 

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