Market and projects:
The market remains very strong despite the Covid-19 situation. We experience increased interest and commitments in all regions. In particular the UK and Scandinavian markets develop at high speed. Projects receive strong political and financial support.
We have engaged with the Stockholm Exergi project since 2018. We are pleased that the invitation to tender (ITT) for the project front end engineering and design (FEED) study based on the hot potassium carbonate (HPC) solution was issued on March 24, 2021. This is an important step towards realizing the project.
We are engaged in discussions with industrial partners with the objective to expand our project portfolio geographically and to new business segments.
We have seen positive developments in several other projects where we are engaged within biomass power plants and Waste-to-Energy (WtE) plants.
The CO2 Capsol EoP (End of Pipe) technology is planned to be implemented in a 50,000 ton prototype plant in Halden in connection with a feasibility study related to “CCS Klynga Øra and regional”. CO2 Capsol will participate in the extended feasibility study.
We have received invitations to participate in new business segments, including Green Hydrogen and Green LNG projects.
CO2 Capsol has agreed to several memorandum of understandings (MOUs) for industry and project collaboration in 2021.
Administration and Finance:
The company secured a funding facility of NOK 75 million in late 2020. Of this, NOK 39 million has been released, and the company is in a comfortable financial situation while maintaining strong capital discipline.
We have added new skilled resources to the organisation. The organisation will be kept lean.
CO2 Capsol has moved into new offices in Madserud Allé 2, Oslo.
CO2 Capsol has experienced a positive and encouraging first quarter of 2021.
Oslo, April 26, 2021
Jan Kielland, CEO
Mobile: +47 415 69 974
About CO2 Capsol AS:
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 will provide the market with operational updates on a regular basis. The company has a number of ongoing projects and activities. The short-term goal is to secure the first license agreement for implementation of the patented CO2 Capsol End of Pipe (EoP) capture solution utilising Hot Potassium Carbonate (HPC) as absorbent for large scale CO2 capture from power and industrial plants. In addition, the company recognises the need for strong industrial partnership(s) to develop a global market.