CO2 Capsol rebrands to Capsol Technologies, broadens technology solutions

Capsol Technologies, formerly known as CO2 Capsol, has announced a new name and a broadening of its technology solutions. The company, which was originally focused on offering one carbon capture solution, has now expanded its portfolio to include a range of technology solutions based on the same energy-efficient core process. The move is seen as an important step in the company’s preparation for global scale-up.

As part of its rebranding strategy, Capsol Technologies is also considering an uplisting from the Euronext Growth trading platform to the main list on the Oslo Stock Exchange (Oslo Børs) within the current business year. The ticker at Euronext Growth Oslo remains unchanged: CAPSL.

Jan Kielland, CEO of Capsol Technologies, said, “Built on 20 years of Nordic carbon capture innovation and commercialisation, as we now have a wider selection of carbon capture technology offerings to our clients, this both expands our market opportunity and makes us more competitive.”

In addition to its already commercial CapsolEoP™ (End-of-Pipe) technology, Capsol Technologies is developing CapsolGT® for capturing carbon dioxide from open cycle gas turbines. This technology will enable the generation of additional electricity while capturing more than 95% of the CO2 from exhaust gases of open cycle gas turbines. CapsolGT® is based on learning from ongoing projects, in collaboration with large international players.

“Last year we won our first large-scale licensing agreement for the CapsolEoP™ technology at Stockholm Exergi, in Stockholm, Sweden, and we had our first CapsolGo® demonstration unit in operation in Helsingborg, Sweden. When CapsolGT® is launched in the second half of 2023, it can replace the traditional steam cycle, reduce complexity, and introduce carbon capture as a revenue source,” said Jan Kielland.

Capsol Technologies’ solutions are licensed out, either directly to customers or through global distribution partners. The company has opened its first office outside Norway in Berlin during Q1 2023. It has also launched a second CapsolGo® demonstration campaign in Germany with a major energy company.

“All industries across the globe are relevant for our technology solutions to achieve decarbonisation of operations. To reach the goal of net zero, the International Energy Agency estimates that a capacity for capturing 1 billion tonnes of CO2 is needed by 2030, calling for minimum EUR 21 billion of carbon capture technology capex to be sanctioned in the next eight years according to our estimates. We experience strong interest in especially Europe and North America, two regions where politicians use both regulations and incentives to encourage companies to invest in carbon removal technologies. While our name is new, our vision is the same: To accelerate the world’s transition to a carbon-negative future,” said Jan Kielland.

Capsol Technologies’ Annual General Meeting will be held on May 24, 2023, where the board of directors will propose to change the company name to Capsol Technologies AS.

CO2 Capsol & HZI sign MoU on carbon capture for waste to energy industry