Oslo, Norway - 15 September 2023


Capsol Technologies has been awarded feasibility studies for the CapsolEoP®
(end-of-pipe) carbon capture technology at two large cement plants in the EU
with the potential to capture more than 1.5 million tonnes of CO2 per annum
combined. The studies will start in Q3 2023.

"We are receiving firm response from the industry - a strong indication that our
CapsolEoP® provides highly competitive value propositions for cement. CapsolEoP®
reduces energy consumption by more than 50% compared to competing technologies,
resulting in 25% lower costs per ton of CO2 captured. In addition, the
CapsolEoP® is safe and not harmful to the local environment," says Jan Kielland,
CEO of Capsol Technologies. 

The company owning the two cement plants has operations in more than 10
countries, with total emissions of more than 20 million tonnes of CO2 in 2022. 

These awards are Capsol Technologies' third and fourth engineering studies for
the cement industry. In total, Capsol currently has nine cement projects in
sales engineering and engineering studies totalling a potential of about 10
million tonnes of CO2 to be captured annually. 

"We are pleased that our solution is gaining attention as demonstrated by an
increasing number of incoming requests for sales engineering and engineering
studies and look forward to being a major contributor in the path to net zero
for cement," says Jan Kielland, CEO of Capsol Technologies.

Cement, which is one of Capsol Technologies' four target segments, is estimated
by IEA to account for more than 300 million tonnes of captured CO2 in 2030,
representing 30% of total installed carbon capture capacity. Hence, it
represents the largest industry opportunity for carbon capture. 

Please see attached slides.



For further information, please contact:

Ingar Bergh
Chief Financial Officer, Capsol Technologies
+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 safe and
cost-competitive solutions are licensed out either directly to customers or
through industrial partners globally. Key segments include cement, biomass,
energy-from-waste, gas turbines 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 tonne 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.