Oslo, Norway - 31 October 2023


Capsol Technologies has signed a contract for the delivery of two CapsolGo®
carbon capture and liquefaction demonstration campaigns to be executed at
Sumitomo SHI FW (SFW) client base in the Nordics. The campaigns have a combined
duration of 8 months and are planned to be executed at one Energy from Waste
(EfW) plant and one Biomass to energy plant. Due to the strong and increasing
demand for such demonstration campaigns, Capsol Technologies has ordered its
third CapsolGo® demonstration unit.

In December 2022, SFW and Capsol entered into a cooperation agreement to develop
and deliver standardised carbon capture plants for EfW and biomass-fuelled
combined heat and power (CHP) facilities based on Capsol's technology. As such,
the CapsolGo® campaigns 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.

"This agreement represents an important commercial milestone of our
collaboration with SFW and is in line with our strategy to scale by
partnerships. Through the collaboration with SFW we add significant drive to
market, sell and deliver Capsol's technologies, ultimately helping us achieve
our vision of accelerating the world's transition to a carbon negative future",
commented Jan Kielland, CEO of Capsol Technologies.

SFW has a wide and strong foothold in the global energy, waste, and process
industries, which are served by its 1 800 employees across 20 locations in 14
countries. SFW has execution and service hubs in Europe, Asia, and North America
with manufacturing facilities in China, Poland, Thailand, Finland, and Sweden.
The company is part of the Japanese Sumitomo Heavy Industries Group (SHI).
 
"By partnering with Capsol, SFW has grown its portfolio of carbon capture
solutions, and significantly expanded its serviceable market. What makes
Capsol's solution particularly attractive is the low energy use, the use of a
low-cost and benign solvent, and the possible thermal heat export from the
capture plant to a district heating network", commented Tomas Harju-Jeanty, CEO
of Sumitomo SHI FW.

The procurement and construction process of the third CapsolGo® unit has been
initiated to be deployed in Q2 2024 as the first of the two demonstration
campaigns will start running. The unit is fully funded. 


About CapsolGo® 

o CapsolGo® demonstration projects are designed to provide emitters with carbon
capture and liquefaction data using Capsol's HPC-based process on their specific
plants, supporting accelerated decision processes towards full-scale carbon
capture. 
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

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.


About Sumitomo SHI FW

Sumitomo SHI FW (SFW) is a global provider of solutions and services that drive
the decarbonization of energy. Our solutions include energy from biomass and
waste, long duration energy storage, recycling of waste to valuable end
products, carbon capture, flue gas cleaning, waste heat boilers, as well as
related services to digitalize, optimize, and decarbonize assets that we deliver
to the global power and industrial markets. We strive to provide sustainable
energy solutions for customers in a wide range of industries including energy,
waste, chemicals, metal, sustainable fuels, cement and pulp and paper. SFW's
excellence in delivering projects worldwide rely on our 1,800 talented people,
across 20 locations in 14 countries, with deep know-how and experience in the
industry.