CO2 Capsol secures first debt financing through “green loan” for CapsolGo™ units
Oslo, Norway 03 November 2022
CO2 Capsol AS has entered into a loan agreement with the Norwegian bank DNB for
financing of CapsolGo™ unit 1 and unit 2. This is a “green loan” facility of
23,000,000 NOK.
“With this facility the company has strengthened its financial position and
improved its growth capacity,” says Ingar Berg, Chief Financial Officer at CO2
Capsol.
In October, CO2 Capsol announced start of operations on its CapsolGo™ unit 1 at
Östersundskraft’s Energy-from-Waste plant in Helsingborg, Sweden. Due to strong
demand from the European market, the company has invested in a second unit which
is expected to be ready for deployment by end of 2022.
“The fact that CO2 Capsol qualified under the DNB Sustainable Product Framework,
which is verified by DNV as an independent third party, is a testament to our
commitment to drive sustainability. We are very pleased with the support from
DNB in this process,” adds Mr. Berg.
“DNB will be a driving force for sustainable transition, and we will use our
expertise and provide banking services to help our customers move in a
sustainable direction. We are excited to play our part in bringing much needed
technologies like CO2 Capsol’s carbon capture technology to the market,” says
Gry Berit Lundal, SVP Energy & Industry.
About CapsolGo™
With CapsolGo™, CO2 Capsol has developed an easy and affordable way for
large-scale CO2-emitters to test and verify the effectiveness of the company’s
technology on the client´s specific flue gas and processes, helping the client
to accelerate the decision towards a full-scale carbon capture plant. CapsolGo™
is offered on a rental basis, including a flexible testing and validation
program, by an independent third party. A standard CapsolGo™ demonstration
campaign has a duration of four to six months, and includes transportation,
installation, operation, and testing services.
About DNB’s “green loan”
A green loan is a financing product where the loan proceeds are used for
projects and investments with specific environmental credentials. In partnership
with ESG rating company Sustainalytics, DNB has developed a framework for
qualifying “green loans”. DNV makes an external assessment and issues green
certificates for loans that qualify. A green loan offers better terms than an
equivalent loan that does not meet the criteria for “green loans”.
For further information, please contact:
Ingar Bergh
Chief Financial Officer, CO2 Capsol AS
+47 926 20 330
ingar.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.
More information:
Access the news on Oslo Bors NewsWeb site