Oslo, Norway - 6 November 2023

 
Capsol Technologies ASA has entered into a loan agreement with the Norwegian
bank DNB for the financing of one CapsolGo® carbon capture demonstration unit
and one CapsolGo® liquefaction unit. The facility is a so-called "green loan" of
3 070 000 EUR.
 
With the CapsolGo® demonstration units, Capsol Technologies provides an easy and
affordable way for large-scale CO2-emitters to test Capsol's energy-efficient
and cost competitive carbon capture technology on their own plant and flue gas. 

On 31 October 2023 Capsol announced entering into an agreement with Sumitomo SHI
FW (SFW) for two CapsolGo® demonstration campaigns to be executed at their
client base in the Nordics. The CapsolGo® campaigns will provide valuable data
to both the industrial emitters, supporting their investment decisions, and to
Capsol and SFW in the efforts to optimise and standardise full-scale carbon
capture plants to reduce cost and delivery time.
 
Simultaneously with the SFW agreement, Capsol signed a contract to build and
deliver a third CapsolGo® carbon capture demonstration unit to meet increasing
demand for our carbon capture demonstration campaigns. Part of the loan is
subject to Capsol finalising the order for a new CapsolGo® liquefaction unit.
The loan has a 3-year payment profile priced at EURIBOR 3 month + margin.

With three CapsolGo® units in operation from Q2 2024, Capsol has an annual
capacity to run 6 demonstration campaigns, capturing ~3 000 tonnes CO2, adding
~15 000 hours of operation per year.
 
"We are pleased with the continued support from DNB. The CapsolGo® demonstration
campaigns help project owners accelerate investment decision for large scale
plant by reducing perceived technology risk. We are experiencing high demand
across industries and geographies, including the US, Europe, Asia, and Middle
East," said Ingar Bergh, Chief Financial Officer at Capsol Technologies. 
 

About CapsolGo®

o CapsolGo® demonstration campaigns are designed to provide emitters with carbon
capture and liquefaction data using Capsol's HPC-based (Hot Potassium Carbonate)
process on their specific plants, supporting accelerated decision processes
towards full-scale carbon capture plants.
o A standard CapsolGo® demonstration campaign is offered on a rental basis,
typically has a duration of six months, and includes transportation,
installation, operation, and testing services.
o Capsol's HPC-based process is using potassium carbonate as the CO2 solvent, a
process which is well-documented and used in more than 750 plants globally in
multiple industries. A patented energy re-circulation process offers low capture
cost and the flexibility to monetise heat and electricity.
 
 
For further information, please contact:
 
Ingar Bergh
Chief Financial Officer, Capsol Technologies ASA
+47 926 20 330
ingar.bergh@capsoltechnologies.com

 
 
About Capsol Technologies ASA
 
Capsol Technologies 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 solutions are
licensed out either directly to customers or through industrial partners
globally. Key segments include cement, biomass, energy-from-waste, power
generation and large industrial. Capsol is targeting significant long-term value
creation with a scalable model with an ambition of 5-10% technology licensing
market share in 2030, EUR 7-12 in licensing revenue per tonnes installed
capacity and 40-60% pre-tax profit margin. Capsol Technologies is listed on
Euronext Growth Oslo, Norway (ticker: CAPSL). For more information visit
capsoltechnologies.com.