CO2 Capsol becomes Capsol Technologies

Oslo, Norway – 25 April 2023


CO2 Capsol today announces a new name – Capsol Technologies. The rebranding
reflects the Company’s move from offering one carbon capture solution to now
having a portfolio of technology solutions leveraging the same energy-efficient
core process. The broadening of the portfolio is an important step in the
Company’s preparation for global scale-up. As a part of the rebranding strategy
and the strong growth prospects, the Company will also consider an uplisting
from the Euronext Growth trading platform to the main list on the Oslo Stock
Exchange (Oslo Børs) within the current business year. The ticker at Euronext
Growth Oslo remains unchanged: CAPSL.

“Built on 20 years of Nordic carbon capture innovation and commercialisation, as
we now have a wider selection of carbon capture technology offerings to our
clients, this both expands our market opportunity and makes us more
competitive,” said Jan Kielland, CEO of Capsol Technologies.

In addition to the already commercial CapsolEoP™ (End-of-Pipe) technology,
Capsol Technologies is now developing its CapsolGT® offering for capturing
carbon dioxide from open cycle gas turbines. This technology will make it
possible to generate additional electricity while capturing more than 95% of the
CO2 from exhaust gases of open cycle gas turbines. CapsolGT® is based on
learning from ongoing projects, in collaboration with large international
players.

“Last year we won our first large-scale licensing agreement for the CapsolEoP™
technology at Stockholm Exergi, in Stockholm, Sweden, and we had our first
CapsolGo® demonstration unit in operation in Helsingborg, Sweden. When CapsolGT®
is launched in the second half of 2023, it can replace the traditional steam
cycle, reduce complexity, and introduce carbon capture as a revenue source,”
said Jan Kielland.

Capsol Technologies’ solutions are licensed out, either directly to customers or
through global distribution partners. In addition to the CapsolGo® demonstration
campaign in Sweden, a second CapsolGo® demonstration campaign is operational in
Germany with a major German energy company. Capsol Technologies opened its first
office outside Norway in Berlin during Q1 2023.

“All industries across the globe are relevant for our technology solutions to
achieve decarbonisation of operations. To reach the goal of net zero, the
International Energy Agency estimates that a capacity for capturing 1 billion
tonnes of CO2 is needed by 2030, calling for minimum EUR 21 billion of carbon
capture technology capex to be sanctioned in the next eight years according to
our estimates. We experience strong interest in especially Europe and North
America, two regions where politicians use both regulations and incentives to
encourage companies to invest in carbon removal technologies. While our name is
new, our vision is the same: To accelerate the world’s transition to a
carbon-negative future,” said Jan Kielland.

CO2 Capsol AS will hold its Annual General Meeting on 24 May 2023, where the
board of directors will propose to change the company name to Capsol
Technologies AS.

For further information, please contact:
Tone Bekkestad
Chief Marketing Officer
Capsol Technologies AS
+47 412 92 013
tone.bekkestad@capsoltechnologies.com
http://www.capsoltechnologies.com/


About Capsol Technologies
Capsol Technologies is a carbon capture technology provider with the 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 target segments include cement, biomass, energy-from-waste, power
generation and large industrial. Capsol Technologies is listed on Euronext
Growth Oslo, Norway (ticker: CAPSL). For more information visit
capsoltechnologies.com.

 

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