Oslo, Norway - August 13, 2024


Capsol Technologies has signed a contract for the delivery of two CapsolGo®
carbon capture demonstration campaigns at SCHWENK's Building Material Group's
Broceni cement plant in Latvia and the Akmenes Cementas cement plant in
Lithuania.

The CapsolGo® demonstration campaigns follow a feasibility study done by Capsol
for the Broceni cement plant earlier this year and will be delivered as
all-inclusive services with a testing and validation program, providing SCHWENK
with valuable data and information on the CapsolEoP® (End-of-Pipe) capture
technology. The demonstration period will be Q4 2024 to Q4 2025.

SCHWENK is part of the CCS Baltic Consortium which was granted the status of
Project of Common Interest (PCI) by the European Commission in May 2024, aiming
to transport captured CO2 from Lithuania and Latvia to permanent storage sites,
potentially in the North Sea.

"CapsolEoP® offers lower energy consumption with higher CO2 concentration than
competitive technologies, and the capture cost for cement owners is reduced
further as it doesn't require external steam supply. We are looking forward to
demonstrating our technology on SCHWENK's cement plants. The company is one of
the most innovative building materials producers in Europe and are playing an
active role in progressing carbon capture and storage in the Baltic region",
says Philipp Staggat, Chief Product Officer of Capsol Technologies.

"Succeeding with carbon capture will be essential for our industry over the next
decade and a commitment to future generations. It presents a significant
technical challenge and is necessary for ensuring the sustainability and
competitiveness of industrial sites like ours." says Reinhold Schneider, CEO
SCHWENK Northern Europe.

"In collaboration with our clients and stakeholders, we are dedicated to
addressing these challenges. The implementation of CapsolEoP® technology at our
Latvian and Lithuanian plants is a testament to our commitment, marking a
significant stride towards the goal of capturing over 1.5 million tons of CO2
annually. This initiative is a cornerstone in our journey towards a more
sustainable and responsible industry." explains Arturas Zaremba, CEO
Akmenes cementas.

About CapsolGo®
o CapsolGo® demonstration projects are designed to provide emitters with carbon
capture 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 monetize heat and electricity.


For further information, please contact:
Ingar Bergh
Chief Financial Officer, Capsol Technologies
+47 926 020 330
ingar.bergh@capsoltechnologies.com


About SCHWENK
SCHWENK was founded in Ulm in 1847, making it one of the oldest family-owned
companies in the German building materials industry. During these years it has
developed into a group of multiple companies and is one of the most innovative
and modern of its sector. The SCHWENK Building Materials Group has about 4,500
employees and operates in Central, Northern and Eastern Europe as well as
Namibia.


About Capsol Technologies
Capsol Technologies ASA is a carbon capture technology provider with a goal of
accelerating the transition to a net zero future. The company offers a carbon
capture and heat recovery system in one for superior efficiency with a proven
and safe solvent, which is licensed either directly to customers or through
industrial partners globally. Key segments include cement, biomass,
energy-from-waste, and gas turbines. Capsol Technologies is listed on the main
board Oslo Stock Exchange (ticker: CAPSL). For more information visit
capsoltechnologies.com