Capsol Technologies joins the select few pure-play listed carbon capture companies globally
Capsol Technologies ASA (Oslo: CAPSL), a leading provider of carbon capture solutions has announced its plans to list the company on the main board of Norway’s stock exchange, Euronext’s Oslo Børs. The company expects the first day of trading to be on the 19th of June.
Being traded on the main board of the stock exchange makes the company more accessible to global investors. Following an equity offering in February 2024 of about $8 million USD, the company is fully financed to deliver on its business model, including strategic initiatives for its ongoing North American expansion and the launch of the emerging carbon capture technology solution for gas turbines, CapsolGT®.
In July 2022, Stockholm Exergi – a combined heat and power plant in Sweden, selected Capsol Technologies' CapsolEoP® for its large-scale Bio-energy Carbon Capture and Storage (BECCS) project which will capture 800,000 tons of CO2 annually once fully operational. Microsoft has committed to purchasing 3.33 million tons of permanent carbon removals, the world's largest to date.
Wendy Lam, CEO of Capsol Technologies said: “Capsol Technologies is one of the only pure-play listed carbon capture technology companies globally and by taking the step to Oslo Børs’ main board we are making the shares more accessible for international investors. We're encouraged by the traction we have in Europe with four of the world’s largest decarbonizing industries: Biomass, energy-from-waste, cement and gas turbines. “
Capsol Technologies’ long-term goal is to establish itself in the top three positions for carbon capture technology in cement, energy recovery, biomass and gas turbines, targeting a market share of 5-10% by 2030.
Lam continued “Expanding into North America, the world's largest CCS market, we aim to offer our combined post-combustion carbon capture and heat recovery system to hard-to-abate industries. Our solutions deliver superior efficiency using a proven and safe solvent. With a scalable business model and globally leading industry partners, we are well positioned to make real climate impact while generating attractive returns.”
About Capsol Technologies
Capsol Technologies is a carbon capture technology provider offering a carbon capture and heat recovery system in one for superior efficiency with a proven and safe solvent. The technology is licensed either directly to customers or through industrial partners globally. Key segments include cement, biomass, energy-from-waste and gas turbines.
The company has entered into three license agreements, which allows the use of Capsol’s patented technologies and has sold engineering studies for projects with a total full-scale potential of 13 million tons of CO2 capture. The company also has three CapsolGo® demonstration units that are rented out to customers, enabling them to test the technology on their own flues gases, leading to a faster final investment decision (FID).
Among Capsol's partners are globally leading industrial companies such as Munters, Sumitomo FHI FW, GE Vernova, Siemens Energy, Storegga and Petrofac. The company is headquartered in Oslo, Norway and has offices in Germany and Houston, USA.
