A cost effective,

energy efficient,
carbon capture solution

www.co2capsol.com
info@co2capsol.com
Our Why

OUR VISION
To accelerate the world’s transition to a carbon negative future.

OUR MISSION
Our mission is to be a major contributor to solving one of our
biggest global challenges; climate change, with our patented
Capsol EoP (End of Pipe) - a cost effective, energy efficient,
compact, scalable and flexible retrofit capture carbon solution
for power plants and industrial facilities.
We aim
to be a
global leader
in capturing CO2
from power plants
and industrial
facilities
The Capsol End of Pipe (EoP) Solution

Process overview

Near zero emission to air

No amine degradation products
• Gas
• Coal
• Mixed Fuels
• Refinery Waste (Pet-coke)
• Waste Incineration High purity CO2
• Suitable for EOR, Chemicals etc.
• Storage
Capsol EoP

Power Plant
Heat (District Heat)
Electricity

CO2 Capsol offers a well-proven carbon capture solution based on Hot Potassium Carbonate (HPC)
with several competitive advantages compared to Amine based solutions
4
Capsol EoP Patented Energy Recirculation

A unique and very simple set-up designed to keep the energy in the system
CO2
Flue Gas with 90-95% CO2 removed • The HPC technology is
widely used in hundreds of
plants; however with
significant energy loss

• CO2 Capsol has patented

Absorber Desorber
rights for energy
recirculation; that
significantly improves
the HPC process
Pressurized
CO2 Rich Flue Gas

Main difference between a traditional set-up without energy saving and Capsol End of Pipe (EoP)
is the use of steam recycling in the desorber
5
Advantages of Capsol EoP

Field-Proven Technology
Using HPC (Hot Potassium Carbonate) as an absorbent of flue
gas is thoroughly documented and used in thousands of
existing plants.

The Capsol EoP solution has been developed and refined

during a 15 year period. Capsol EoP can capture CO2 from
any power plant, industrial facility or plant powered with biofuel.

Inexpensive Absorbent
Hot Potassium Carbonate (HPC) is significantly more cost
effective than Amines.

Potassium carbonate is a common remedy in the food industry

and readily available.

6
Advantages of Capsol EoP

Flexible and Scalable

A single unit can process flue gas from plants with emissions of
up to 2.5 million tons/year with flue gas CO2 concentrations of
20%.

Two or more units will operate in parallel for facilities with

emissions of more than 2.5 million tons/year.

Cost-Efficient
The industry’s most cost-efficient solution due to low
energy consumption (200 kWh/ton CO2 captured (0.7 GJ/ton))
in the capture process, thanks to our patented energy
recuperation.

For comparison, Amine-based technology requires approximately

2.5 GJ/ton CO2 captured, mostly in the form of heat.
7
Advantages of Capsol EoP

Stand Alone Unit

Easy to install stand-alone unit. Does not interfere with
existing facility. Compact design. Minimal space requirements.
No downtime during installation period. Installation and
commissioning time of only 24-30 months for large plants.

No Harmful Chemicals
In contrast to alternative solutions, no risk related to emission of harmful
chemicals, which is a big advantage of using HPC as absorbent.

Electricity or Steam
The Capsol EoP solution can be powered by electricity or steam.

Benefits of being able to run on electricity only is

1) The capturing facility is independent of the mother plant.
2) No need to invest in steam production to run the capture unit. 8
Case study – Waste-to-Energy (WtE) Plant

Results from engineering study by CO2 Capsol in 2020

Study performed on Waste-to-Energy (WtE) plant in Europe.

CO2 emissions: 300.000-500.000 ton CO2/year

The Capsol EoP solution, using electricity only, gave the

following results:
• OPEX: 19 EUR/ton CO2 captured
• CAPEX: 7–8 EUR/ton CO2 captured
• Capture costs: 26-27 EUR/ton CO2 captured
• CO2 Capture rate: 95%

Studies published by Sintef indicate capture costs of

39–55 EUR/metric ton CO2-captured (depending on the
cost of external energy) for steel, pulp and paper, and
cement, using Amine based technology.
ESWET

9
Most Cost-Effective Carbon Capture Solution

Amine based solutions 50% more expensive

A new report issued by the Swedish Energy Agency on June 18, 2020, shows that carbon
capture cost (Capex and Opex) for kraft pulp mills in Sweden are 50% more than our
patented Capsol EoP solution (see next slide).

Capsol EoP Capture costs: 25-30 €/ton CO2-captured

A similar study by Sintef indicate carbon capture costs of 39–55 €/ton (depending on the cost
of external energy) for steel mills, pulp and paper mills, and cement plants, using amine
based technology. In comparison, capture costs for Capsol EoP is 25-30 €/ton CO2-captured,
depending on application.

Factors affecting the CO2 capture costs

Factors affecting the CO2 capture costs is mainly regional variations in cost of energy and the
CO2-concentration in the flue gas. Flue gas CO2-concentration varies depending on type of
industry/facility.

10
Capsol EoP Provides Unparalleled Cost Efficiency

*)
CO2 capture costs (€/ton)
Capex lower than competitors
01 Our estimated Capex will be lower than
competitors primarily due to reduced cost for
modification/integration of mother plant.

Lower/no chemical cleaning costs

02 We use non-toxic chemicals (absorbent) which
36 37 reduce capture cleaning costs.

24
Free to choose EPC contractor
03 We are independent. No exclusive agreement
with any EPC contractor. Plant owner can choose
EPC contractor with lowest price during
Amine HPC El. HPC St. tendering process.
Capture Cost

Note: *) «Conceptual study for Bio-CCS within Stora Ensos Swedish kraft pulp mills» 11
HPC vs Amine Based Solvent

HPC (Hot Potassium Carbonate) Amines

✓ More than 675 installations using HPC globally ▪ High energy consumption

✓ Low level of complexity, cost efficient and non-toxic ▪ Chemical reactions can form new compounds such as
process nitrosamines and nitramines, which can negatively
affect health and the environment
✓ No hazard to environment or people
▪ The nitrosamines needs to be collected and treated
✓ Less expensive than Amines or Amino acids which is a costly procedure
✓ The captured CO2 is totally free of degraded ▪ Can react with oxygen or NOx in the flue gases
(potentially carcinogenic) amines, it has a very low forming corrosive degradation products and
oxygen content and it is suitable for technical use nitrosamines which are harmful
✓ Studies show 50% higher carbon capture costs using ▪ Can be degraded to some extent in the presence of
Amines compared to our Capsol EoP (HPC) solution O2, SO2, NO2 and HCl. Makeup is needed to be added
✓ Potassium carbonate is readily available and a which increases OPEX
common remedy used in the food industry

So why does not everybody use HPC?

Using HPC as absorbent requires pressurized gas for the chemical reaction between CO2 and HPC to take place. The flue gas in ordinary
plants is not pressurized. The flue gas must therefore be pressurized. This requires large amounts of energy i.e. very expensive. Our Capsol
EoP solution recycles most of the energy used for pressurizing the flue gas, thus making it energy efficient and very cost effective.

12
Brief History and Growth Expectations

Breakthrough as Sign minimum one contract in

A successful test in selected best technology 2021. Then 2+ contracts per
Stockholm at the for Stockholm biomass year
Värtan power plant power plant

2008 2019 2021

2003 2014 1H 2020

Conceptual idea and CO2 Capsol was Growing organization
preparation of first established; taking over on marketing and
patent by Sargas patents and technical business development
staff from Sargas
Some of the projects we are involved in:

Sweden: Biomass-fired CHP Plant (Combined Heat and

01 Power), Waste to Energy(WtE) plants and kraft pulp mills.

02 Norway: Waste to Energy and industrial plants

03 Europe: Power and Waste to Energy Plants

04 US: Industrial Plants

05 Far East: Partnering with large Engineering

Procurement and Construction(EPC)
company.
Core Staff Members

Jan Kielland Tone Bekkestad

CEO Marketing and Communication Manager
▪ Various roles at Shell, Saga Petroleum, Lundin ▪ On-air meteorologist at TV4 Sweden, lecturer,
Petroleum, Panoro Energy, Clean Carbon Group author, various roles at WeatherOne, NILU
▪ MSc in Petroleum Engineering ▪ MSc in Meteorology

Marius Firing
Business Development Manager
▪ MD of Melberg Partners, various roles at DNV,
Hydro, Esso Norway, Exxon Mobile
▪ MSc in in Marine Technology
Patent founders / technical expertise:

Eirik Lunde Tor Christensen

CFO Senior Specialist Engineer
▪ Broad financial and analytical background. ▪ Leading research positions in oil company, co-
KPMG London and Melberg Partners founder and partner, developed several patents
▪ MSc from London School of Economics ▪ PhD and MSc in Chemical Engineering

Ingvild Ombudstvedt Stellan Hamrin

Legal Advisor Senior Specialist Engineer
▪ Extensive experience on legal issues relating to ▪ Developed the Capsol EoP and other patents. Has
CCS, CCU, CCUS, business development also worked with other capture technologies
▪ Economist and lawyer ▪ MSc in Mechanical Engineering
Solid Patent Portfolio

Patent rights in all key regions and within several patent families, each with equal priority and
based on the same invention

Thermal power plant with CO2 sequestration

Entered: 20.02.2008 Duration: 20.02.2029

Heat integration in CO2 capture

Entered: 28.10.2010 Duration: 28.10.2031

Method and plant for CO2 capture

Entered: 08.09.2015 Duration: 06.09.2036

New patents will be filed related to experience from ongoing projects and new opportunities

*For more details, see Appendix page 36

16
Dilutive securities

Options Warrants

With reference to the Investment Agreement dated 23 December The Company has issued 5 million non-transferrable warrants to
2020, the investors who participated in the equity issue were the Existing Shareholders prior to the investors participating in
granted the following options the equity issue
(on a pro-rata basis): (on a pro-rata basis)
• (i) to subscribe for shares in the Company with a total The warrants shall be exercisable if the 30-day volume-weighted
subscription amount of NOK 25m to a subscription price of NOK
average share price of the Company’s shares on a multilateral
4.04 per share
trading facility or a regulated market, (i) at any time has
• (ii) to subscribe for shares in the Company with a total increased above NOK 9.69 per share and (ii) represents in
subscription amount of NOK 25m to a subscription price of NOK aggregate more than 5% of the shares outstanding.
3.23 per share
The share option set out in (i) above must be exercised by written If such a reference price is not available, the market price shall be
determined based on the last available issue or sales price, or
notice to the company by the end of 2021. The share option in (ii) alternatively by an independent valuation committee to be
must be exercised by written notice to the Company within 30 appointed by the Company with the approval of at least 50% of
days following the company entering into its first license the shareholders in the company who are not existing
shareholders. If a valuation committee is not appointed, each
agreement party may request the Norwegian Securities Dealers Association
to appoint the valuation committee

The warrants’ strike price, if exercised, shall be NOK 1 per share

17
 Contact Person
Jan Kielland

CO2 Capsol AS,

Nobels gate 10, 0273 Oslo, Norge

CONTACT US +47 415 69 974

info@co2capsol.com

www.co2capsol.com