CO2 Capsol signs Patent License Agreement for Europe’s first large-scale negative emissions plant with Stockholm Exergi

Press Release

Oslo, Norway - 11 July 2022


CO2 Capsol and Stockholm Exergi have signed a Patent License Agreement for the
use of CO2 Capsol´s Hot Potassium Carbonate (HPC) carbon capture technology at
Stockholm Exergi´s biomass powered Combined Heat and Power (CHP) plant at
Värtaverket in Stockholm. The facility has the potential of capturing 800,000
tons of CO2 per year. As energy from biomass is considered carbon neutral,
capturing the carbon from Stockholm Exergi´s plant makes it Europe’s first
large-scale plant with negative CO2-emissions.

For CO2 Capsol, the patent license agreement with Stockholm Exergi proves that
our technology can compete on the highest level and is an important step in
showing that our safe, environmentally friendly and energy efficient HPC
technology has several competitive advantages.

When operational, Stockholm Exergi´s BECCS (Bio Energy Carbon Capture and
Storage) plant will contribute to make Stockholm the first carbon neutral
capital of the world, continuing to inspire others and help to accelerate carbon
capture and storage projects in both Europe and the rest of the world.

“We look forward to contributing to this important project, which has the
potential of being a catalyst to accelerate the development of the carbon
capture and storage value chain across Northern Europe. Ultimately the facility
has the potential to unlock a new industry with positive economic and
environment impact,” says Jan Kielland, CEO of CO2 Capsol.

Stockholm Exergi’s project is supported with EUR 180 million from the EU
Innovation Fund, with the expectation that the project will show the way for
others by sharing information and experiences on establishing a complete value
chain for BECCS.

Stockholm Exergi is happy to have reached an agreement with CO2 Capsol regarding
their licenses that will support the design and development of the BECCS
project.

The carbon capture plant is planned to begin operations at the end of 2025.

“This agreement is a proof of our scalable technology platform where we license
out patents, either directly to project owners or through collaboration with
industrial partners, says Jan Kielland.

As a result of being a first mover to install CO2 Capsol´s proprietary
technology, Stockholm Exergi has received more favorable terms than CO2 Capsol
expects to achieve on following projects. Nevertheless, the patent license
agreement will generate highly satisfactory income for the Company no later than
in 2024, as the full payments will be made when Stockholm Exergi makes the Final
Investment Decision (FID) for the carbon capture facility.


FACTS about BECCS

BECCS stands for Bio Energy Carbon Capture and Storage and entails capture and
storage of carbon dioxide that arises in connection with the incineration of
biomass. This creates negative emissions. In this way, the technology
contributes to counteracting global warming and, in the long term, return the
climate to sustainable levels. BECCS is necessary to meet the far-reaching
ambition of negative emissions that, according to the UN’s climate panel IPCC,
are needed to reach climate goals.


For more information please contact:

CO2 Capsol
Jan Kielland
CEO
Mob: +47 415 69 974
Mail: jan.kielland@co2capsol.com


About CO2 Capsol

CO2 Capsol offers a cost competitive and environmentally friendly carbon capture
technology utilizing the safe solvent hot potassium carbonate (HPC). HPC has
been used for CO2 removal from gas streams for more than 70 years in different
industries globally and is a well-known process in the industry. What
differentiates CO2 Capsol´s HPC technology from other HPC (and amine)
technologies, is a patented energy-recuperation which keeps most of the energy
within the system, and optimal integration of the Company´s solution into the
host plant’s processes to decrease complexity and create new revenue streams for
the industrial emitter.

Due to strong interest in the Company´s technology, CO2 Capsol also offers the
mobile, containerised carbon capture demonstration unit, CapsolGo. CapsolGo is
an easy and affordable way for industrial emitters to test CO2 Capsol’s safe and
environmentally friendly HPC technology, and for many the first step towards a
full-scale carbon capture plant.

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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