Oslo, Norway - 20 March 2024 


Capsol Technologies has been awarded an engineering study for the CapsolEoP®
(end-of-pipe) carbon capture technology at a cement plant in Cauldon, in Stoke
on Trent, by Aggregate Industries UK Ltd, owned by Holcim Group, which is the
world's largest producer of cement. The full-scale potential for carbon capture
from the plant is over 600 000 tonnes of CO2 per annum. 

"CapsolEoP® provides a cost-efficient carbon capture solution for cement, and
with this study, we continue to build a position as the preferred technology in
the industry," commented Johan Jungholm, CCO of Capsol Technologies.

Aggregate Industries UK operates a dry-process cement plant and is one of the
leading providers of building materials in the UK. The plant is part of Peak
Cluster, which aims to cut over three million tonnes of CO2 emissions annually
from cement, lime and energy-from-waste facilities from 2030. The CO2 from the
plant will be geologically stored through the nearby MNZ Cluster or HyNet North
West.  

The contract covers the technology supplier input for a feasibility study, as
well as further pre-FEED engineering if successful in the technology selection
for the project. The feasibility study has received funding from the UK
Government's Industrial Energy Transformation Fund (IETF). Aggregate Industries
UK's engineer is Petrofac, a leading global engineering, procurement and
construction (EPC) company. 

The cement industry is one of the world's largest hard-to-abate emitters
accounting for approximately 8% of global CO2 emissions, and one of Capsol
Technologies' key segments.  

Carbon capture is the most efficient solution to decarbonising cement
production, where up to 60% of the CO2 emissions come directly from the
conversion of calcium carbonate to clinker. The International Energy Agency
(IEA) has estimated that the cement industry will account for 170 million tonnes
of captured CO2 in 2030, rapidly growing to 480 million tonnes in 2035 and 1.3
gigatonnes in 2050.  

"Our solution can be run on electricity alone without expensive heat integration
or external steam supply, and offers flexibility in the optimisation of the
designs, allowing for high capture rates, high reliability and low energy
consumption," said Jungholm.   

Capsol's current project pipeline of large-scale cement projects in sales
engineering and engineering study phases have a total potential carbon capture
capacity of more than 10 million tonnes of CO2 annually.    

This engineering study has previously been included in investor presentation as
"expected award" in our pipeline. 

 

For further information, please contact: 
Ingar Bergh 
Chief Financial Officer, Capsol Technologies ASA 
+47 926 20 330 
ingar.bergh@capsoltechnologies.com 

 

About Capsol Technologies 

Capsol Technologies is a carbon capture technology provider with a goal to
accelerate the transition to a net zero 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, and gas turbines. 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.
Plants with capacity below 400 000 tonnes of CO2 per year will typically be
priced in the higher part of the range. Capsol Technologies is listed on
Euronext Growth Oslo, Norway (ticker: CAPSL). For more information visit
capsoltechnologies.com. 

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