Oslo, Norway - 24 July 2023


Reference is made to the Capital Markets Update (CMU) on 4 May 2023 and key
milestones reached during the first quarter of 2023. The company will consider
an uplisting from the Euronext Growth trading platform to the main list of Oslo
Stock Exchange within the third quarter of 2023.

With the increased activity levels, international expansion of the company, the
opening of a Berlin office earlier this year, and increased demand for our
capture technology globally, the Board has decided to nominate a new board
member to support the company's international growth. The nominated new company
director will be up for approval at the next shareholders meeting, planned for
September 2023. In addition, the Board proposes to change the company's form of
incorporation from AS to ASA to be compliant with the requirements to be
accepted at the Oslo Stock exchange main board.

The nomination is:

Ellen Merete Hanetho has extensive experience from executive positions in
investment
banking and private equity in corporations such as Frigaard Invest, Credo
Partners, Goldman
Sachs Investment Banking Division in London and New York, and the Brussels Stock
Exchange and Citibank in Brussels. She is founder and chairperson of Cercis, a
cleantech
investment company established in 2020. Ms. Hanetho holds a BSBA from Boston
University
and an MBA from Solvay University, in addition to executive training from INSEAD
and
Harvard Business School.

Ellen has substantial experience from several board positions including chairman
of the board of Hydrogenpro ASA, Fleks AS and Mer AS, and board member of
Kristian Gerhard Jebsen Group Limited, Stokke Industri AS, Kongsberg Automotive
ASA, Eqva ASA and MPC Container Ships ASA.

Chairman of the board, Endre Ording Sund comments: "Ellen Hanetho will
significantly contribute to the Board and Capsol Technologies AS with a wealth
of experience which is crucial for the growth of Capsol Technologies AS, The
proposal of a new board member is in line with the strategy and expansion of the
company."

An extraordinary General Assembly will be called for in September 2023.


For further information, please contact:

Endre Ording Sund
Chairman Board of Directors, Capsol Technologies +47 458 00 400
endre.o.sund@gmail.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 solution is
licensed out either directly to customers or through industrial partners
globally. Key target segments include cement, biomass, energy-from-waste, power
generation and large industrial. Capsol Technologies is listed on Euronext
Growth Oslo, Norway (ticker: CAPSL). For more information, visit
capsoltechnologies.com.