Oslo, Norway - 15 February 2024
Capsol Technologies has been awarded a carbon capture process design as part of
an ongoing feasibility study for the CapsolEoP® (end-of-pipe) carbon capture
technology at Tekniska Verken's energy-from-waste plant Gärstaverket in
Linköping, in southern Sweden. The full-scale potential for carbon capture is
250 000 tonnes of CO2 per annum.
Tekniska Verken is a municipality-owned energy-from-waste plant providing
electricity and district heating to the wider region of Linköping. The contract
is for a carbon capture process design as part of an ongoing feasibility study
that will lead to a carbon capture technology selection for Gärstaverket. The
project is in part funded through "Industriklivet" - a governmental funding
mechanism provided by the Swedish Energy Agency (Energimyndigheten) supporting
the transition to net zero emissions of greenhouse gases by 2045. The owner's
engineer is Rambøll, a leading global engineering, design and consultancy
company.
Energy-from-waste is one of Capsol Technologies' target segments. Gärstaverket's
waste includes a significant amount of biomass which enables negative emissions.
According to estimates by the International Energy Agency, bioenergy with carbon
capture and storage will need to reach 190 million tonnes of CO2 per annum by
2030 in the net zero emissions by 2050 scenario.
"Converting energy from waste is sustainable and far better than landfilling and
traditional incineration. When combined with carbon capture, Gärstaverket can
create negative emissions as the waste contains a substantial amount of carbon
which is naturally part of the carbon cycle. As such, this is one of the most
effective applications of our technology to accelerate the transition to a net
zero future and we are excited to work with Tekniska Verken on this important
project," says Wendy Lam, CEO of Capsol Technologies.
Capsol's current project pipeline including sales engineering totals more than
55 million tonnes of CO2 captured per year, of which 13 million tonnes are more
mature projects.
For further information, please contact:
Ingar Bergh
Chief Financial Officer, Capsol Technologies ASA
+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
energy-efficient, cost competitive, and environmentally friendly solutions are
licensed out either directly to customers or through industrial partners
globally. Key segments include cement, biomass, energy-from-waste, power
generation 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, Capsol Technologies is listed on Euronext Growth Oslo,
Norway (ticker: CAPSL). For more information visit capsoltechnologies.com.
To receive Capsol's stock exchange and press releases via email, subscribe at
capsoltechnologies.com/investors