CAPSOL TECHNOLOGIES ASA Press ReleaseOslo ,June 20, 2022 Reference is made to the Operational Update fromCO2 Capsol AS published29 December 2021 regarding investment in the development, construction, and delivery of mobile carbon capture demonstration units, CapsolGo, utilizing Hot Potassium Carbonate (HPC). CO2 Capsol is experiencing increasing interest for the Company's safe, environmentally friendly, and energy efficient carbon capture technology Capsol EoP, and the mobile containerised carbon capture demonstration unit CapsolGo. Strong demand "We see strong demand for our HPC technology and the demonstration unit. Therefore, we have placed an order for the second CapsolGo unit, which will allow us to fast track the deployment of a second unit, offering additional demonstration capacities to the market in the fourth quarter of 2022", says CEOJan Kielland of CO2 Capsol. CapsolGo is an easy and affordable way for industrial emitters to test CO2 Capsol's HPC technology, and for many the first step towards a full-scale carbon capture plant. Stockholm Exergi has successfully done extensive testing for more than two years. HPC has been widely used in the industry for gas sweetening, including CO2 removal, for 70 years. CO2 Capsol has developed the technology further to become a very cost efficient and environment friendly process. CapsolGo is offered on a rental basis, including a flexible testing and validation program, by an independent third party, providing clients with valuable data and information on CO2 Capsol´s HPC capture technology, with their specific flue gas profile, helping them to accelerate the decision processes towards a full-scale plant. A standard CapsolGo demonstration campaign has a duration of four months, and includes transportation, installation, operation, and testing services. First unit operational in September The first CapsolGo mobile carbon capture demonstration unit is under construction and will be installed at Oresundskraft AB´s EfW (Energy-from-Waste) plant Filbornaverket with operational start inSeptember 2022 . With a CapsolGo demonstration campaign,Oresundskraft AB will gain valuable data and information on the effectiveness, flexibility, and safety of CO2 Capsol's patented HPC capture technology, reducing uncertainties. Well-known, patented technology HPC as an absorption solvent of CO2 is well-documented and used in thousands of plants globally in multiple industries. Using HPC for post combustion carbon capture from flue gases was until recently discarded as a viable option due to high energy demand to compress the flue gas to make the CO2-absorption process effective. To solve this problem, CO2 Capsol developed Capsol EoP (End of Pipe) - a standalone, retrofit carbon capture unit, with a patented energy re-circulation process which offers low capture cost and the flexibility to monetise heat and electricity. Fully-funded The investment in CapsolGoTM is part of CO2 Capsol´s current business plan, fully-funded, and will thus not require additional capital. Unit no 1 will start generating revenue in September. Unit no 2 is expected to generate revenue following delivery. For further information, please contact:Jan Kielland CEO,CO2 Capsol AS +47 415 69 974 jan.kielland@co2capsol.com www.co2capsol.com 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 asWaste-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 GrowthOslo, Norway (ticker: CAPSL). https://www.co2capsol.com/news
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