Oslo, Norway - 30 March 2023


CO2 Capsol today announces that the company will participate in a front-end
engineering design (FEED) study in cooperation with a Scandinavian engineering
company which will have the overall responsibility for delivering the FEED
study.

"This is an important project to reach Sweden's climate policy goals of net zero
greenhouse gas emissions by 2045, followed by negative emissions from 2045, and
we are pleased to see that the client (non-disclosed) has decided to move
forward with a FEED study. This proves our position in Bioenergy with Carbon
Capture and Storage - BECCS - which involves CO2 captured from biogenic sources
such a plants, trees and soil, and permanently stored. When CO2 from the
incineration of biogenic sources is captured and stored, instead of releasing
the biogenic CO2 to the atmosphere, negative emissions are created by removing
CO2 from the atmosphere," says Jan Kielland, CEO of CO2 Capsol.

BECCS, which is the only carbon dioxide removal (CDR) technique that can also
provide energy, is required to meet net zero ambitions, according to IEA
(International Energy Agency). In IEA's Net Zero Emissions Scenario, 250 million
tonnes of CO2 need to be removed through BECCS by 2030. This is far from the
BECCS projects currently in the early and advanced stages of development which
could reach 40 million tonnes of CO2 per year by 2030.

Traction within the BECCS industry

CO2 Capsol is emerging as an attractive technology provider for CO2 capture from
BECCS plants.

Recent activities within BECCS include:

o In July 2022, CO2 Capsol was a awarded a license agreement for using CapsolEoP
at Stockholm Exergi's biomass powered combined heat and power plant at
Värtaverket in Stockholm, Sweden.
o During Q1 2023, a 12-month CapsolGo demonstration campaign for a major German
energy company will start operating, with a 6-month campaign at a biomass- fired
combined heat and power plant.
o Delivered feasibility (paid engineering) study for a plant in the BECCS value
chain in the United States. The project is expected to move forward to the next
phase. (Not previously disclosed).
o CO2 Capsol's technology selected for FEED at a specific plant in Sweden as
described herein.

CO2 Capsol is now well positioned in the BECCS industry and will be a valuable
partner for existing and new clients in Scandinavia and globally.


For further information, please contact:

Ingar Bergh
Chief Financial Officer
CO2 Capsol AS
+47 926 20 330 
ingar.bergh@co2capsol.com


About CO2 Capsol

CO2 Capsol 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. CO2 Capsol is listed on Euronext Growth Oslo, Norway (ticker:
CAPSL). For more information visit co2capsol.com.