Oslo, Norway - 11 January 2024 


Capsol Technologies has been awarded a feasibility study for the CapsolEoP®
(end-of-pipe) carbon capture technology at SCHWENK's Building Material Group's
Broceni cement plant in Latvia. The study is for a plant aiming to capture 750
000 tonnes of CO2 per annum.   

SCHWENK Latvija is part of the CCS Baltic Consortium which was included in the
provisional 6th list of Projects of Common Interest by the European Commission
in November 2023, aiming to transport captured CO2 from Lithuania and Latvia to
permanent storage sites, potentially in the North Sea. 

"Checking the best carbon capture methods and how they can be integrated with
our production process is a crucial task for us on the way to carbon neutrality,
and likely the major investments direction for the coming decade. To that end,
we are excited to investigate the energy consumption and the scale of equipment
required for carbon capture at Broceni plant, if potentially partnering with
Capsol for this challenge", says Reinhold Schneider, CEO SCHWENK Northern
Europe. 

"We are excited to work with SCHWENK, one of the most innovative building
materials producers in Europe that has constantly improved its processes to
reduce emissions since operations started at the Broceni plant's new kiln line
in 2010," says Jan Kielland, CEO of Capsol Technologies. 

Cement is one of Capsol Technologies' target segments. IEA (International Energy
Agency) has estimated that the cement industry will account for more than 300
million tonnes of captured CO2 in 2030. This equals 30% of the total carbon
capture market. 

Capsol's current project pipeline includes 10 large-scale cement projects which
are in the sales engineering and engineering studies phase. The total potential
carbon capture capacity of these projects is 11 million tonnes of CO2 annually. 


"The response from the industry is that Capsol's technology reduces risk and
cost significantly while delivering superior sustainability. With this
feasibility study, we are taking another step towards building a position as the
preferred carbon capture technology provider for cement," says Kielland.  

 

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 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. 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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