Oslo, Norway - April 22, 2024


Capsol Technologies ASA, a provider of carbon capture technology to large
emitters, today announced its results for the first quarter of 2024.

Accelerating revenues and pipeline growth
o  Mature stage of sales pipeline totalling 13 million tons of CO2, up 400%
year-over-year, with a record number of engineering studies awarded within
energy-from-waste and cement
o  Revenues of NOK 19.5 million, compared to NOK 0.9 million in Q1 2023, driven
by engineering studies and CapsolGo® carbon capture demonstration campaigns
o  Current business plan fully funded with committed engineering work and
demonstration campaigns and NOK 97.3 million cash balance

Maturing projects towards technology licensing revenue
o  Scalable business model with CapsolEoP® technology licensing agreements
providing EUR 1.5-15 million per project at ~100% gross margin
o  Stockholm Exergi, Capsol's most mature project, received an environmental
permit, de-risking the FID which is expected in 2024 
o  Preliminary license agreement signed for Switzerland's first large-scale
carbon capture plant following a successful feasibility study
o  Recent license agreements confirm Capsol's target revenue range of EUR 7-12
per ton installed CO2 capture capacity