Press Release

Oslo, January 25, 2022

Reference is made to the Operational Update from CO2 Capsol AS published 29
December 2021 regarding investment in the development, construction, and
delivery of mobile carbon capture demonstration units, utilizing Hot Potassium
Carbonate (HPC).

The company is experiencing significant interest from industrial emitters across
different industries to test CO2 Capsol's environmentally friendly and energy
efficient carbon capture technology. Therefore, CO2 Capsol has made the final
investment decision for one CapsolGo(TM) mobile carbon capture demonstration

"We see very strong interest from industrial players that want to test
CapsolGo(TM) which is a testament of our highly attractive solutions to capture
CO2", says Jan Kielland, CEO of CO2 Capsol.

CapsolGo(TM) is offered as a paid service with a flexible testing and validation
program, providing clients with valuable data and information on CO2 Capsol's
HPC capture technology and process, helping to accelerate the decision processes
towards a full-scale plant.

A standard test program will have a duration of 4 months and includes
transportation, installation, operation, and testing services. The test program
will be executed by the independent company Captimise AB, specializing in carbon
capture, utilization, and storage, to ensure objective and reliable test

CO2 Capsol has entered into detailed negotiations with first clients for
CapsolGo(TM). The first test campaign is planned for Q3/2022 and the deployment
of additional demonstration units will be considered based on market interest in
the upcoming months. 

The investment in CapsolGo(TM) is part of the current business plan, fully
funded and will thus not require additional capital. 

The revenues generated from the first CapsolGo(TM) will be used to cover
investments in additional CapsolGo(TM) demonstration units. Building a portfolio
of several demonstration units has the potential to generate a significant cash
flow to the company.

"With CapsolGo(TM) clients are offered a flexible and cost-efficient way of
testing the advantages of our HPC technology on their specific flue gas and
operation, in addition to serve as a showcase of carbon capture technology to
stakeholders and help win public approval. For us, CapsolGo(TM) will provide
valuable data and information in our continuous work to improve our patented
technology and drive down the costs for carbon capture even more", says

For further information, please contact:
Jan Kielland
CEO, CO2 Capsol AS
+47 415 69 974

About CO2 Capsol
Carbon capture, utilization and storage (CCUS) is crucial to achieving net zero
emissions of greenhouse gases by 2050. CO2 Capsol´s carbon capture technology is
an essential part in a successful clean energy transition. Carbon capture
contributes both to directly reducing emissions in critical economic sectors and
to remove CO2 from facilities such as Waste-to-Energy (WtE) and biomass power
plants - so-called negative CO2 emissions. Negative CO2 emissions will be
essential in compensating for hard to abate emission sources. CO2 Capsol is
proud to be part of the solution for a sustainable future.

CO2 Capsol has a very competitive technology protected by IP rights. The base
case revenue model is to license out patents. We negotiate directly with project
owners or participate by collaboration with industrial players.

CO2 Capsol is listed on Euronext Growth Oslo, Norway (ticker: CAPSL).

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