Capsol Technologies ASA: Q1 2025 pipeline growth driven by first FID, EU applications and large client
Capsol Technologies ASA, a leading provider of carbon capture technology, today reports continued growth in its mature project pipeline.
With offtake agreements and the award of Swedish funding in place, and subsequent Final Investment Decision (FID) for Stockholm Exergi’s large-scale bioenergy with carbon capture and storage (BECCS) project, there is increased client interest in progressing projects with Capsol’s technology.
As of Q1 2025, Capsol’s mature pipeline exceeds 21 million tonnes of annual CO₂ capture capacity, representing 65% year-on-year growth.
Yesterday, April 24, was the deadline for calls for applications to EU’s 2.4 billion EUR innovation fund support for net zero technologies. Capsol has delivered engineering work supporting applications for projects totalling approximately two million tonnes of potential CO₂ capture, with over one million tonnes contributed by new projects added to the mature pipeline in Q1 2025.
“Industrial clients select Capsol for our energy- and cost-efficient carbon capture solutions, backed by a strong safety and environmental profile. The Stockholm Exergi FID has clearly demonstrated that projects using Capsol’s technology can be bankable. As a result, we’re seeing increased demand for engineering support as clients prepare funding applications,” said Wendy Lam, CEO of Capsol Technologies.
In parallel, Capsol has provided engineering work for two US projects in the BECCS and gas turbine segments, representing a combined potential of 500,000 tonnes. This work is part of ongoing project development activity.
Further pipeline growth was driven by expanded scope with an existing large client in cement, which added approximately four million tonnes as the company matures additional projects for carbon capture deployment.
At the same time the company has done a thorough pipeline review and taken out projects that are deemed less likely to proceed, leaving the current pipeline at 21 million tonnes of annual CO₂ capture capacity at end of Q1 2025.
Capsol Technologies will publish its Q1 2025 interim report on May 13, 2025.
For further information, please contact:
Ingar Bergh
Chief Financial Officer, Capsol Technologies ASA
+47 926 20 330
About Capsol Technologies
Capsol Technologies ASA is a carbon capture technology provider with the goal of accelerating the world's transition to a net zero future. The technology combines inherent heat recovery and generation in a stand-alone unit based on a proven and safe solvent. Capsol's technology is licensed directly to customers or through industrial partners globally. Key segments include cement, biomass, energy-from-waste, and gas turbines. Capsol Technologies is listed on Euronext Oslo Børs (ticker: CAPSL). For more information, visit capsoltechnologies.com.
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