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    CAPSL   NO0010923121

CO2 CAPSOL AS

(CAPSL)
Real-time Oslo Bors  -  05:05:34 2023-02-06 am EST
14.46 NOK   +7.43%
02/03Co2 Capsol : Presentation of Q4 2022 Results
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02/02Norway's CO2 Capsol to Expand to Germany, to Open Berlin Office in Q1
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CO2 Capsol : First Half Year Report 2022

10/04/2022 | 06:12am EST

Accelerating the world's transition to a carbon negative future

CO2 CAPSOL - FIRST HALF YEAR RESULTS 2022

CO2 CAPSOL HALF YEAR REPORT 2022

Table of contents

CO2 Capsol in brief

3

CO2 Capsol's technology

4

Letter from CEO

5

Business update

6

Sustainability

8

Half year financial performance

9

Key sustainability highlights

10

Risks and mitigating actions

11

Declaration by the board of directors and CEO

12

Income statement

13

Balance sheet

14

Cash flow

15

Notes

16

© 2022 CO2 CAPSOL

2

CO2 CAPSOL HALF YEAR REPORT 2022

CO2 Capsol in brief

Ready to scale carbon capture technology

…with global commercial traction

  • CO2 Capsol has developed a cost-effective carbon capture technology which could be a major contributor in combatting climate change
  • CO2 Capsol licenses out its End of Pipe (EoP) technology and the solution is implemented by partners
  • The technology is applicable to all CO2 intensive industries and in all geographies
  • Key target segments include cement, biomass, waste-to-energy, power generation and large industrial facilities
  • The patented technology is both sold directly to emitters as well as being offered through global distribution partners

in project pipeline

Founded

Euronext

Market cap

Global interest

50+ active leads

Inbound leads

2014

CAPSL

NOK 600m

20+ countries

Totalling 300mt/year

~5-10/week

© 2022 CO2 CAPSOL

3

CO2 CAPSOL HALF YEAR REPORT 2022

CO2 Capsol´s technology

Environmentally friendly, non-carcinogenic,non-flammable,energy-efficient, and affordable.

Safe, non-proprietary HPC (Hot Potassium Carbonate) solvent for capturing of CO2.

  • Flexible. Can be run on electricity-only or utilize excess heat from the host plant.
  • Stand-alone. No costly investments in external steam production or reconstruction of the existing plant.
  • Optimisation - either for minimum electricity consumption or for maximized internal heat generation, for example for district heating.
  • Proven. Chosen by Stockholm Exergi for their 1.200.000 tons of CO2 per year biomass powered Combined Heat and Power (CHP) plant Värtaverket in Stockholm.

© 2022 CO2 CAPSOL

4

CO2 CAPSOL HALF YEAR REPORT 2022

Letter from CEO

The International Energy Agency (IEA) has consistently highlighted the important role of CCUS (Carbon Capture Utilisation and Storage) in achieving net zero emissions, given that without CCUS we would have limited or no solutions for tackling emissions from hard-to-abate sectors.

© 2022 CO2 CAPSOL

Although recent progress in carbon capture and storage projects are promising, its deployment and the planned pipeline of projects are well below the levels required in the Net Zero Emissions by 2050 scenario.

To reach the United Nation's climate goals, carbon capture must increase by hundred times in 30 years (to 2050) - translating to 5.6 billion tons of CO2, which is almost equivalent to today's global oil production. This will require several trillion euros in investments in capture plants, and transportation and storage infrastructure. This is an enormous challenge but a great opportunity for CO2 Capsol.

Applying CCUS in industry and fuel transformation is one of the most cost-effective ways to reduce emissions, particularly from processes that produce concentrated CO2 streams, like Waste-to-Energy (also called Energy-from-Waste), power plants, cement production and heavy industries. We experience that all industries now have a component of CCUS.

CCUS projects are now operating or under development in many countries around the world, with the United States and Europe accounting for three- quarters of the projects in development. However, progress is seen across Asia, Australia, and the Middle East.

Despite the war in Ukraine and the resulting energy crisis, CO2 Capsol has experienced an increased influx of requests for our environmentally friendly HPC (Hot Potassium Carbonate) post-combustion carbon capture technology, Capsol EoP (End of Pipe), and our demonstration unit CapsolGoTM, which offers clients an affordable opportunity to test CO2 Capsol´s technology with their specific flue gas profile, helping clients accelerate the decision processes towards a full-scale carbon capture plant.

We continue to build the organization and strengthen our team, and are pleased to welcome among others, Anders Grinrød (Head of Innovation) and Cato Christensen (Chief Technical Officer) to our team of excellent employees. They will both be essential in our continued growth and success.

CO2 Capsol´s goal is to help capture as much CO2 as possible with our safe, energy-efficient and cost competitive carbon capture technology, a goal we are all proud of contributing to realise.

Jan Kielland

CEO

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Co2 Capsol AS published this content on 04 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2022 10:11:09 UTC.


ę Publicnow 2022
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Managers and Directors
Jan Kielland Chief Executive Officer
Ingar Bergh Chief Financial Officer
Endre Ording Sund Chairman
Cato Ragnvald Christiansen Chief Technology Officer
Einar Christen Lange Director
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