Capsol Technologies ASA: Q1 2025 pipeline growth driven by first FID, EU applications and large client

25 Apr 2025 13:08 CEST

Capsol Technologies ASA, a leading provider of carbon capture technology, today
reports continued growth in its mature project pipeline.

With offtake agreements and the award of Swedish funding in place, and
subsequent Final Investment Decision (FID) for Stockholm Exergi's large-scale
bioenergy with carbon capture and storage (BECCS) project, there is increased
client interest in progressing projects with Capsol's technology.

As of Q1 2025, Capsol's mature pipeline exceeds 21 million tonnes of annual CO?
capture capacity, representing 65% year-on-year growth.

Yesterday, April 24, was the deadline for calls for applications to EU's 2.4
billion EUR innovation fund support for net zero technologies. Capsol has
delivered engineering work supporting applications for projects totalling
approximately two million tonnes of potential CO? capture, with over one million
tonnes contributed by new projects added to the mature pipeline in Q1 2025.

"Industrial clients select Capsol for our energy- and cost-efficient carbon
capture solutions, backed by a strong safety and environmental profile. The
Stockholm Exergi FID has clearly demonstrated that projects using Capsol's
technology can be bankable. As a result, we're seeing increased demand for
engineering support as clients prepare funding applications," said Wendy Lam,
CEO of Capsol Technologies.

In parallel, Capsol has provided engineering work for two US projects in the
BECCS and gas turbine segments, representing a combined potential of 500,000
tonnes. This work is part of ongoing project development activity.

Further pipeline growth was driven by expanded scope with an existing large
client in cement, which added approximately four million tonnes as the company
matures additional projects for carbon capture deployment.

At the same time the company has done a thorough pipeline review and taken out
projects that are deemed less likely to proceed, leaving the current pipeline at
21 million tonnes of annual CO? capture capacity at end of Q1 2025.

Capsol Technologies will publish its Q1 2025 interim report on May 13, 2025.

For further information, please contact:

Ingar Bergh

Chief Financial Officer, Capsol Technologies ASA

+47 926 20330

ingar.bergh@capsoltechnologies.com

About Capsol Technologies

Capsol Technologies ASA is a carbon capture technology provider with the goal of
accelerating the world's transition to a net zero future. The technology
combines inherent heat recovery and generation in a stand-alone unit based on a
proven and safe solvent. Capsol's technology is licensed directly to customers
or through industrial partners globally. Key segments include cement, biomass,
energy-from-waste, and gas turbines. Capsol Technologies is listed on Euronext
Oslo Børs (ticker: CAPSL). For more information, visit capsoltechnologies.com.

To receive Capsol's stock exchange and press releases via email, subscribe at
capsoltechnologies.com/investors.

More information:
Access the news on Oslo Bors NewsWeb site